The Internal Revenue Service (IRS) today published the Internal Revenue Bulletin No. 2021-11, which includes calendar year 2021 resident population figures to calculate state allocations of the 9% low-income housing tax credit (LIHTC) and private activity bond (PAB) cap. Notice 2021-19 includes population figures for 50 states, the District of Columbia, Puerto Rico, American Samoa, Guam, the Northern Mariana Islands and the U.S Virgin Islands. Nationally, 9% population-based LIHTC allocations will increase by 0.4% ($3.7 million) in 2021 and PAB allocations will increase by 0.5% ($182 million). Based on the population figures, Alaska, Delaware, the District of Columbia, Montana, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming will receive the small-state 9% LIHTC minimum of $3,245,625. Those states, plus Arkansas, Hawaii, Idaho, Kansas, Maine, Mississippi, Nebraska, New Hampshire, New Mexico and West Virginia, will receive the small-state PAB minimum of $324,995,000.

The use of PABs and competition for state LIHTCs will be among the topics at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.