Revenue Procedure 2023-32
Internal Revenue Service
2023-41 I.R.B. 1064
   
   
   
 26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also: Part I,§§      6011, 6662, 6662A, 6707A; 1-6011-4.)      
     
 Rev. Proc. 2023-32      
     
 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 2023.   
     
 SECTION 2. BACKGROUND      
     
Rev.Proc. 2019-45, 2019-48 I.R.B. 524, 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). 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) is published by the Internal Revenue Service in the Internal Revenue Bulletin. This revenue procedure publishes these amounts for calendar year 2023.   
     
 SECTION 3. PROCEDURE      
     
The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2023 is as follows:   
   
                          
   
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 2023.
   
DRAFTING INFORMATION 
   
The principal author of this revenue procedure is Dillon Taylor of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact Mr. Taylor at (202) 317-4137 (not a toll-free number).