Internal Revenue Bulletins  
Revenue Procedure 2006-38 October 2, 2006

Low-Income Housing Credit


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 2006.


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 2006.


The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2006 is as follows:

Qualified State Amount Allocated
Alabama $119,717
Arizona 156,003
California 949,059
Connecticut 92,203
Delaware 22,156
Florida 467,274
Georgia 238,303
Illinois 335,247
Indiana 164,742
Kansas 72,093
Kentucky 109,620
Maine 34,711
Maryland 147,102
Massachusetts 168,072
Michigan 265,838
Minnesota 134,820
Missouri 152,353
Nebraska 46,197
New Jersey 228,988
New York 505,748
North Dakota 16,723
Oregon 95,637
Pennsylvania 326,480
Rhode Island 28,268
Tennessee 156,625
Texas 600,447
Utah 64,867
Vermont 16,365
Virginia 198,770
Washington 165,156
Wisconsin 145,416


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 2006.


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).

Internal Revenue Bulletin 2006-39


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