Internal Revenue Bulletin:  2008-41 

October 14, 2008 

Rev. Proc. 2008-57


SECTION 1. PURPOSE

This revenue procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under § 42(h)(3)(D) of the Internal Revenue Code for calendar year 2008.

SECTION 2. BACKGROUND

Rev. Proc. 92-31, 1992-1 C.B. 775, provides guidance to state housing credit agencies of qualified states on the procedure for requesting an allocation of unused housing credit carryovers under § 42(h)(3)(D). Section 4.06 of Rev. Proc. 92-31 provides that the Internal Revenue Service will publish in the Internal Revenue Bulletin the amount of unused housing credit carryovers allocated to qualified states for a calendar year from a national pool of unused credit authority (the National Pool). This revenue procedure publishes these amounts for calendar year 2008.

SECTION 3. PROCEDURE

The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2008 is as follows:

Qualified State Amount Allocated
Alabama $ 100,398
Connecticut 75,980
Florida 395,947
Georgia 207,066
Idaho 32,528
Indiana 137,656
Kansas 60,223
Massachusetts 139,923
Michigan 218,501
Minnesota 112,758
Mississippi 63,321
Missouri 127,528
Nebraska 38,498
New Jersey 188,434
New Mexico 42,736
New York 418,650
North Dakota 13,878
Ohio 248,766
Pennsylvania 269,720
South Carolina 95,622
South Dakota 17,273
Tennessee 133,565
Texas 518,587
Utah 57,388
Vermont 13,478
Virginia 167,308
Washington 140,328
Wisconsin 121,523

EFFECTIVE DATE

This revenue procedure is effective for allocations of housing credit dollar amounts attributable to the National Pool component of a qualified state’s housing credit ceiling for calendar year 2008.

DRAFTING INFORMATION

The principal author of this revenue procedure is Christopher J. Wilson of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact Mr. Wilson at (202) 622-3040 (not a toll-free call).


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