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IRS Announces LIHTC, Private Activity Bond Caps for 2005

Monday, November 22, 2004 - 1:45AM

The Internal Revenue Service (IRS) announced in Revenue Procedure 2004-71 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2005. For calendar years beginning in 2005, the amount used under §42(h)(3)(C)(ii) to calculate the state LIHTC ceiling is the greater of $1.85 multiplied by the state population or $2,125,000. The amount used under §146(d)(1) to calculate the state ceiling for the volume cap for private activity bonds in 2005 is the greater of $80 multiplied by the state population or $239,180,000. Click here to view Rev. Proc. 2004-71.

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