NAHMA LIHTC Update: IRS Issues New Housing Credit Volume Caps

NAHMA LIHTC Update: IRS Issues New Housing Credit Volume Caps

Today, the IRS issued guidance to increase the state Housing Credit ceiling; the modification is based on the recently-enacted Fiscal Year 2018 Appropriations Act, which increased the LIHTC volume cap by 12.5% for four years.

The new volume cap amount is the greater of $2.70 multiplied by the population, or $3,105,000. NAHMA will keep members up to date on the state-by-state population estimates for 2018, which have not yet been published by the IRS.

To read the attached Revenue Procedure online, please click here.