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IRS Releases New Population Figures for Calculating the 2005 Population-Based Component of States’ LIHTC Ceilings

Tuesday, February 22, 2005 - 7:15AM

In Notice 2005-16, the Internal Revenue Service (IRS) today released new population figures for calculating the 2005 population-based component of states’ low-income housing tax credit (LIHTC) ceilings, 2005 volume caps and the 2005 volume limit. The population figures for the 50 states, the District of Columbia, and Puerto Rico were released by the Census Bureau on December 22, 2004. The population figures for American Samoa, Guam, Northern Mariana Islands and U.S. Virgin Islands were released on July 17, 2003. Under Revenue Procedure 2004-71, each state’s LIHTC ceiling in 2005 is the greater of $1.85 multiplied by the state population or $2,125,000. Each state’s ceiling for the volume cap for private activity bonds in 2005 is the greater of $80 multiplied by the state population or $239,180,000.

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