Carryover Allocation definition

Carryover Allocation means an Allocation made to the Project if the Project will not be Placed in Service by close of the calendar year of the Allocation.
Sample 1Sample 2Sample 3
Carryover Allocation means the provision under Section 42 of the Code which allows a Project, under certain conditions allowed by Section 42 of the Code, to receive a Tax Credit allocation in a given calendar year and to be Placed In Service within a period of two calendar years after the calendar year in which the Applicant qualifies for a Carryover Allocation. The Carryover Allocation is MFA’s Binding Commitment for Tax Credits.
Sample 1Sample 2Sample 3
Carryover Allocation means the Allocation for a Project which is not expected to be Placed in Service in the year of the initial Allocation, made pursuant to the provisions of Section 42(h)(1)(E) of the Code.
Sample 1Sample 2Sample 3

Examples of Carryover Allocation in a sentence

  • The Carryover Allocation Agreement provides a space for such designation.

  • The Carryover Allocation allows the Applicant up to the end of the second year following the Carryover Allocation to have the Development placed-in-service.

  • If an Applicant cannot complete its Development by the end of the year in which the Preliminary Allocation is issued, the Applicant must enter into a Carryover Allocation Agreement with the Corporation by December 31st of the year in which the Preliminary Allocation is issued.

  • All supporting Carryover documentation and the signed certification evidencing the required basis must be submitted to the Corporation within six (6) months of the date the Corporation issues the Carryover Allocation Agreement, unless extended as provided in the Carryover Allocation Agreement, or the Housing Credits will be deemed to be returned.

  • An exception is provided in the case where the Owner has expended more than ten percent (10%) of the reasonably expected basis in the building (the “Ten Percent Test”) no later than twelve (12) months after the Carryover Allocation.


More Definitions of Carryover Allocation

Carryover Allocation means, an Allocation which is made with respect to a Building or Development pursuant to Code Section 42(h)(1)(E) and/or Code Section 42(h)(1)(F), as the case may be, and in conformance with IRS Notice 89-1 and Treasury Regulation Section 1.42-6.
Sample 1Sample 2Sample 3
Carryover Allocation means the Allocation of a portion of the
Sample 1Sample 2Sample 3
Carryover Allocation means the Allocation for a Project which is not expected to be
Sample 1Sample 2Sample 3
Carryover Allocation. N/A 1. Date: N/A 2. Credit Amount Allocated: N/A
Sample 1Sample 2Sample 3
Carryover Allocation means the Allocation for a Project which is not
Sample 1Sample 2Sample 3
Carryover Allocation means a conditional allocation of HCs based upon an MBOH Carryover determination, which allocation is conditional upon the Applicant performing all conditions and requirements for Final Allocation as set forth in the Applicable QAP, the Carryover Allocation document issued by MBOH and applicable law.
Sample 1Sample 2
Carryover Allocation means an allocation of LIHTCs that is made with respect to a project pursuant to IRC Section 42(h)(1)(E) and/or IRC Section 42(h)(1)(F), and in conformity with IRS Notice 89-1 and Treasury Regulations Section 1.42-6. OHCS issues a carryover allocation when a project will not be placed in service by close of the calendar year of the allocation but has incurred more than 10% of its anticipated costs within the calendar year in which the allocation was received or six (6) months after the date of the carryover.
Sample 1