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.
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.
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.
Examples of Carryover Allocation in a sentence
In the event that State Designation is anticipated to occur more than 60 days after the Agency's receipt of Cost Certification, then, for purposes of Section 5.01(c) hereof, State Designation shall mean evidence of the Agency's receipt of Cost Certification, provided that the Partnership's Carryover Allocation of 1994 Tax Credits remains valid and in full force and effect.
The Tax Credit Set Aside for the Partnership was issued by the Agency through a Preliminary Reservation Letter to the Partnership dated June 26, 1995, and subsequently superseded by the Carryover Allocation.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.
Carryover Allocation means the Allocation of a portion of the
Carryover Allocation means the Allocation for a Project which is not expected to be
Carryover Allocation means the Allocation for a Project which is not
Carryover Allocation. N/A 1. Date: N/A 2. Credit Amount Allocated: N/A
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.
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.¶