IRS Rev. Proc.: 2025 Unused Housing Credit Carryover Allocations to Qualified States (IRC §42)

The Internal Revenue Service (IRS) published a revenue procedure providing the amounts of unused housing credit carryovers allocated from the National Pool to qualified states for calendar year 2025 under I.R.C. §42(h)(3)(D). The procedure allocates unused housing credit authority across 25 qualified states, with amounts ranging from $39,297 for Vermont to $2,389,455 for California. Because of the timing of the publication of this revenue procedure, any amount of unused housing credit carryover published in this revenue procedure that a qualified state fails to allocate before the close of 2025, will not be considered in determining whether that state qualifies for ...