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IRS INCREASES LIHTC, BOND CAPS FOR 2011

Friday, October 29, 2010 - 8:00AM

The Internal Revenue Service (IRS) announced in Revenue Procedure 2010-40 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2011. For calendar year 2011, the amount used under §42(h)(3)(C)(ii) to calculate the state LIHTC is the greater of $2.15 multiplied by the state population or $2,465,000. The amount used under §146(d)(1) to calculate the state ceiling for the volume cap for private activity bonds in 2011 is the greater of $95 multiplied by the state population or $277,820,000.

Tune in to the Tax Credit Tuesday podcast on November 2 to hear more about this change, as well as other news of interest to the LIHTC community.

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