In Revenue Procedure 2023-2024 the Internal Revenue Service (IRS) increased the 2024 nine percent LIHTC ceiling to the greater of $2.90 multiplied by the state population or $3,360,000. The private activity bond (PAB) ceiling also increased to the greater of $125 multiplied by the state population or $378,230,000. All of the increases are around 5.4 percent, with the exception of the nine percent minimum, representing a 4.2 percent increase over 2023 numbers. Official population numbers are typically released by the IRS in March of each year. Last year’s minimums were:
| Per Capita | Minimum | |
| Nine Percent LIHTC | $2.75 | $3,185,000 |
| PAB | $120 | $358,845,000 |
