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IRS Releases Population Estimates for 2016

Monday, March 28, 2016 - 10:45AM

The Internal Revenue Service (IRS) today released Notice 2016-24, which lists its 2016 Calendar Year Resident Population Figures. These figures are used to determine states’ 2016 low-income housing tax credit (LIHTC) ceiling and tax-exempt private activity bond caps. Under Rev. Proc. 2015-53, each state’s LIHTC ceiling in 2016 is the greater of $2.35 multiplied by the state population or $2.69 million; a state’s tax-exempt bond volume cap will be the greater of $100 multiplied by the state population or $302,875,000.

More information will be posted on the Notes from Novogradac blog this week.

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