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IRS Publishes Population Figures to Calculate CY 2024 LIHTC, Private Activity Bond Cap

Monday, March 18, 2024 - 3:00PM

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 2024, based on resident population figures published today by the Internal Revenue Service (IRS) in Internal Revenue Bulleting Notice 2024-12. The same figures also are 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 $3,360,000 in 9% LIHTC allocation, while other states will receive $2.90 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 $378,230,000, while the other states will receive $125 multiplied by their population figure.

Learn more about LIHTCs and private activity bonds at the Novogradac 2024 Affordable Housing Conference, May 2-3 at the Grand Hyatt in San Francisco.

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