NAHMA LIHTC Update: IRS Publishes Population Estimates for 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.
Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email email@example.com, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.