Arlene Conn, PHADA Policy Analyst
On March 2, the Internal Revenue Service published population figures to calculate 2020 limits for low income housing tax credit (LIHTC) and private activity bonds (PABs). The formula for LIHTC cap for each state is the greater of: 1) the population multiplied by $2.8125 or 2) $3,217,500. For PABs it is the greater of: 1) the population multiplied by $105 or 2) $321,775,000. For the 50 states, the District of Columbia and Puerto Rico, the population figures for calculating the Credit Ceiling, the Volume Cap, and the Volume Limit for the 2020 calendar year are the resident population estimates released electronically by the U.S. Census Bureau on December 30, 2019. For American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands, the population figures for the 2020 calendar year are the 2019 midyear population figures in the U.S. Census Bureau’s International Data Base.
The Notice can be found here.