IRS Distributes Unused 2011 LIHTC Allocation

The IRS recently published the amounts of unused low-income housing tax credit carryovers for calendar year 2011. Revenue Procedure 2011-57 details how nearly $3.66 million of unused LIHTCs were divided among the eligible states in the national pool. States qualify for the national pool if they have allocated all their housing tax credits in a calendar year and request to receive an allocation of additional LIHTCs left over by other states.

The national pool of unused tax credits for 2011 were allocated to 28 qualified states, with California receiving the largest allocation of $570,425. The following chart lists each state that received an allocation of the unused low-income housing tax credits.

2011 National Pool Allocation