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IRS ANNOUNCES INFLATION ADJUST LIHTC, BOND CAPS FOR 2010

Tuesday, November 10, 2009 - 8:00AM

The Internal Revenue Service (IRS) last month announced in Revenue Procedure 2009-50 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2010. For calendar year 2010, the amount used under §42(h)(3)(C)(ii) to calculate the state LIHTC is the greater of $2.10 multiplied by the state population or $2,430,000. The amount used under §146(d)(1) to calculate the state ceiling for the volume cap for private activity bonds in 2010 is the greater of $90 multiplied by the state population or $273,775,000. Click here to view Rev. Proc. 2009-50.

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