Thirty-four states will share $2.64 million of unused low-income housing tax credit carryover that has been placed in the 2016 national pool, announced the Internal Revenue Service.
The five states receiving the largest amounts are:· California ($416,376);
· Florida ($215,622);
· New York ($210,564);
· Illinois ($136,789); and
· Pennsylvania ($136,178)
Unused housing credit carryover gets placed into a national pot. Qualified states can request to receive additional credits from this pool. Although the pool hasn’t had a lot of money, it does help a number of states fund additional projects.