File: 
RP-11-57 National Pool.pdf

Summary

  • Part III - Administrative, Procedural, and Miscellaneous

    26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability.
    (Also Part I, § 42; 1.42-14.)

    Rev. Proc. 2011-57

    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 2011.

    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 2011.

    SECTION 3. PROCEDURE
    The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2011 is as follows:




     

    Qualified State                   Amount Allocated    

       California                                   570,425

       Delaware                                     13,749

       District of Columbia                       9,213

       Florida                                       287,882

       Georgia                                     148,335

       Illinois                                        196,460

       Kansas                                        43,686

       Kentucky                                     66,444

       Louisiana                                    69,414

       Maine                                          20,340

       Maryland                                     88,404

       Massachusetts                          100,256

       Michigan                                    151,336

       Minnesota                                    81,213

       Nebraska                                     27,965

       Nevada                                        41,350

       New Jersey                                134,620

       New York                                   296,714

       North Carolina                            146,051

       Ohio                                           176,645

       Oregon                                        58,661

       Pennsylvania                             194,496

       South Carolina                            70,823

       Texas                                         385,024

       Utah                                             42,320

       Vermont                                         9,581

       Virginia                                       122,510

       Washington                                102,965


    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 2011.  

    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 on (202) 622-3040 (not a toll-free call).