On April 8, the Internal Revenue Service (IRS) announced it would allocate an additional $8.2 Million in unused federal low-income housing tax credit (LIHTC) carryovers to the 28 states that received 2023 national pool credit authority last October. Texas, which received $450,000 in October, has been allocated an additional $1.13 million in HTCs, the most compared to the other states.

Because states did not have the ability to allocate this supplemental authority in 2023, IRS effectively is treating the additional national pool authority as unused Housing Credit ceiling carried forward for allocation in 2024. Any additional amount of unused housing credit carryover published in this. Revenue Procedure 2024-18 that a qualified state fails to allocate before the close of 2023 will not be considered in determining whether that state qualifies for an allocation of unused housing credit carryover for calendar year 2024.