IRS Increases LIHTC Cap for 2013

The IRS recently announced that the amount used to calculate the low-income housing tax credit (LIHTC) ceiling in 2013 will be the greater of $2.25 multiplied by the state population or $2,590,000. The previous multiplier was $2.20 and a small state minimum of $2,525,000.

Also, according to Revenue Procedure 2012-41, the private-activity bond volume cap will be the greater of $95 multiplied by the state population or $291,875,000 in 2013. The bond cap for 2012 is the greater of $95 multiplied by the state population or $284,560,000.