In Revenue Procedure 2011-52, the Internal Revenue Service (IRS) set the inflation-adjusted State credit ceiling for the low-income housing tax credit (LIHTC) program and private activity bond caps for calendar year 2012. In 2012, the State housing tax credit ceiling for LIHTC will be the greater of $2.20 multiplied by the State population or $2,525,000. In addition, the volume cap for private activity bond will be the greater of $95 multiplied by the State population of $284,560,000. These rates will be published in Internal Revenue Bulletin 2011-45 on November 7, 2011 and will come into effect at the beginning of the 2012 calendar year.
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