The Internal Revenue Service (IRS) recently released the 2011 Calendar Year Resident Population Estimates for each state. These figures are used to determine states’ low-income housing tax credit (LIHTC) ceiling and tax-exempt private activity bond cap in 2011. Each state’s LIHTC ceiling in 2011 is equal to the greater of $2.15 multiplied by the state population or $2,465,000; a state’s tax-exempt bond volume cap will be the greater of $95 multiplied by the state population or $277,820,000. Read More…