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IRS Releases Notice on CY 2003 Ceilings, Caps

Tuesday, March 18, 2003 - 1:45AM

The Internal Revenue Service (IRS) released Notice 2003-16, which informs state and local housing credit agencies that allocate low-income housing tax credits (LIHTCs) under § 42 of the Internal Revenue Code, as well as states and other issuers of tax-exempt private activity bonds under § 141, of the proper population figures to be used for calculating the 2003 calendar year population-based component of the state LIHTC ceiling under § 42(h)(3)(C)(ii), the 2003 calendar year volume cap under § 146, and the 2003 volume limit under § 142(k)(5). Click here for Notice 2003-16 and the IRS’ 2003 calendar year resident population estimates.

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