SECTION 3. PROCEDURE

The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2009 is as follows:

Qualified State Amount Allocated

Alabama $104,336 California 882,632 Connecticut 78,360 Delaware 19,540 Florida 410,197 Georgia 216,772 Illinois 288,743 Kansas 62,713 Kentucky 95,548 Maine 29,463 Maryland 126,083 Massachusetts 145,428 Michigan 223,881 Minnesota 116,835 New Hampshire 29,448 New Jersey 194,322 New Mexico 44,411 New York 436,202 North Dakota 14,365 Ohio 257,060 Oregon 84,823 Pennsylvania 278,599 Rhode Island 23,517 South Dakota 17,998 Tennessee 139,092 Utah 61,243 Vermont 13,904

September 28, 2009 438 2009–39 I.R.B.

Qualified State Amount Allocated

Virginia 173,876 West Virginia 40,609

is specified on the election form. The effective date specified on Form 8832 cannot be more than 75 days prior to the date on which the election is filed and cannot be more than 12 months after the date on which the election is filed. If an election specifies an effective date more than 75 days prior to the date on which the election is filed, it will be effective 75 days prior to the date it was filed. If an election specifies an effective date more than 12 months from the date on which the election is filed, it will be effective 12 months after the date it was filed.

.05 Section 301.7701–3(d)(1) provides in general that a foreign eligible entity’s classification is relevant when its classification affects the liability of any person for federal tax or information purposes.

.06 Under § 301.9100–1(c) the Commissioner may grant a reasonable extension of time to make a regulatory election or certain statutory elections under all subtitles of the Code, except subtitles E, G, H, and I.

.07 Section 301.9100–1(b) defines the term “regulatory election” as an election whose due date is prescribed by a regulation published in the Federal Register, or a revenue ruling, revenue procedure, notice, or announcement published in the Internal Revenue Bulletin. An entity classification election made pursuant to § 301.7701–3(c) is a regulatory election.

.08 The Commissioner has authority under § 301.9100–1 and § 301.9100–3 to grant an extension of time if a taxpayer fails to file a timely election under § 301.7701–3(c). Section 301.9100–3 provides that the Commissioner will grant an extension of time when the taxpayer provides the evidence to establish to the satisfaction of the Commissioner that the taxpayer has acted reasonably and in good faith and the grant of relief will not prejudice the interests of the government.

.09 Rev. Proc. 2002–59, 2002–2 C.B. 615, provides guidance under § 301.7701–3 for entities newly formed under local law to request relief for a late initial classification election filed by the due date for the first federal tax return (excluding extensions) of the entity’s desired

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 2009.

DRAFTING INFORMATION

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).

26 CFR 601.201: Rulings and determinations letters. (Also: Part 1, §§ 7701; 301.7701–1, 301.7701–2, 301.7701–3, 301.9100–1, 301.9100–3.)

Rev. Proc. 2009–41