IRS Sets 2019 Caps for LIHTCs, Bonds
The IRS recently announced an increase in the low-income housing tax credit (LIHTC) and private-activity bond caps for 2019. Revenue Procedure 2018-57 sets the 2019 amounts used to calculate each state’s LIHTC ceiling at the greater of $2.76 multiplied by the state population, or $3,166,875.
The per-capita number is an increase of nearly 36 cents over the initial 2018 figure, which was $2.40 before being raised to $2.70 by an increase included in the omnibus spending bill. The state minimum is a jump of $401,875 from $2,765,000 this year.