IRS PUBLISHES LIHTC, BOND CAPS FOR 2016

Wednesday, October 21, 2015 - 12:30PM

The Internal Revenue Service (IRS) today announced in Revenue Procedure 2015-53 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2016. For calendar year 2016, the amount used under §42(h)(3)(C)(ii) to calculate the state LIHTC ceiling is the greater of $2.35 multiplied by the state population or $2,690,000. Those amounts are up from $2.30 and $2,680,000 in 2015. The amount used under §146(d) to calculate the state ceiling for the volume cap for private activity bonds in 2016 is the greater of $100 multiplied by the state population—the same as 2015—or $302,875,000, up from $301,515,000.

Tune into the Oct. 27 episode of the Tax Credit Tuesday podcast to learn more.

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