IRS Releases 2020 LIHTC, Private Activity Bond Volume Caps

The IRS recently published Revenue Procedure 2019-44, which provides the per capita and small state minimum levels for the LIHTC and Private Activity Bonds (PABs). These volume cap figures are adjusted annually for inflation. And, for the LIHTC, the volume cap includes the temporary 12.5 percent increase called for when Congress passed the FY2018 omnibus spending bill.