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The IRS recently released its 2014 Calendar Year Resident Population Estimates in IRS Notice 2014-12. This notice advises state and local housing credit agencies that allocate low-income housing tax credits of the population figures to use in calculating tax credit ceilings and tax-exempt private activity bond caps. This year, each state's low-income housing tax credit ceiling is equal to the greater of $2.30 multiplied by the state population or $2,635,000.
