IRS Releases Official Population Figures to Calculate LIHTCs, PABs
Reporting an annual growth rate of 0.7 percent nationwide to 325.7 million residents, the Internal Revenue Service today released official population figures for the 2018 calendar year for purposes of calculating states’ allocations of low-income housing tax credits (LIHTCs) and private activity bonds. The state LIHTC cap is the greater of $2.70 per resident or $3,105,000 and state bond caps are the greater of $105 per resident or $310,710,000. Idaho and Nevada were the fastest growing states by percentage, while Texas and Florida gained the most residents by numeric growth. Eight states dropped in population, with Illinois having the largest numeric decline.