SECTION 2. BACKGROUND

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

Qualified State Amount Allocated

Alabama $ 107,371 Alaska 15,643 Arizona 143,961 California 851,151 Connecticut 81,825 Delaware 19,926 Florida 422,333 Georgia 218,614 Illinois 299,580 Indiana 147,398 Kansas 64,531 Kentucky 98,197 Maine 30,854 Maryland 131,107 Massachusetts 150,285 Michigan 235,697 Minnesota 120,633 Missouri 136,406 Nebraska 41,284 New Hampshire 30,698 New Jersey 203,687 New Mexico 45,633 New York 450,729 North Carolina 206,767 North Dakota 14,845 Ohio 267,970 Oklahoma 83,562 Oregon 86,399 Pennsylvania 290,443 Rhode Island 24,925 South Carolina 100,885 South Dakota 18,255 Tennessee 140,984 Texas 548,821 Utah 59,535 Vermont 14,566 Virginia 178,434 Washington 149,319 Wisconsin 129,724 Wyoming 12,023

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 2007.

DRAFTING INFORMATION

The principal author of this revenue procedure is Christopher J. Wilson of

2007–33 I.R.B. 354 August 13, 2007

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).

August 13, 2007 355 2007–33 I.R.B.