NAHMA LIHTC Update: IRS Publishes Population Estimates for 2017February 27, 2017 Today, the Internal Revenue Service (IRS) published IRS Notice 2017-19, which provides the resident population figures. These figures are used by states and localities in calculating their 2017 LIHTC ceilings and private activity bond caps. As stated in the notice, “Section 3.08 of Rev. Proc. 2016 –55 provides that, for calendar year 2017, the amount for calculating the Credit Ceiling under is the greater of $2.35 multiplied by the State population, or $2,710,000. Further, section 3.20 of Rev. Proc. 2016 –55 provides that the amount for calculating the Volume Cap for calendar year 2017 is the greater of $100 multiplied by the State population, or $305,315,000.” To view IRS Notice 2017-19 online, please click here.
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