Sign Up For Novogradac Industry Alert Emails

IRS Publishes Population Figures for CY 2023 LIHTC, PAB Cap

Monday, March 20, 2023 - 8:45AM

Eight states, the District of Columbia and the U.S. territories except Puerto Rico will receive the small-state minimum allocation for 9% low-income housing tax credits (LIHTCs) in 2023, based on resident population figures published by the Internal Revenue Service in Notice 2023-22. The resident population figures are also used to calculate private activity bond (PAB) cap. Alaska, Delaware, Montana, North Dakota, Rhode Island, South Dakota, Vermont, Wyoming, the District of Columbia and the territories will all receive $3,185,000 in 9% LIHTC allocation, while other states will receive $2.75 multiplied by their population. Those states plus Hawaii, Idaho, Kansas, Maine, Mississippi, Nebraska, New Hampshire, New Mexico and West Virginia will receive the small-state minimum PAB cap of $2,990,375, while the other states will receive $120 multiplied by their population figure.

Competition for 9% LIHTCs and PABs for affordable housing will be a topic at the Novogradac 2023 Affordable Housing Conference, April 27-28 in San Francisco.

Learn more about Novogradac's expertise and many services