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The IRS recently published Revenue Procedure 2016-55, which outlines the inflation adjustments for nearly 50 federal tax provisions, including the amount of Low Income Housing Tax Credit (Housing Credit) authority and Private Activity Bond (PAB) authority each state will receive.
For calendar year 2017, the state Housing Credit ceiling will be the greater of $2.35 multiplied by the state’s population or $2,710,000. While the per capita ceiling remained at the same level as in 2016, the minimum increased $20,000 in credits from its 2016 level of $2,690,000.
