IRS Announces 2014 LIHTC, Bond Caps

The Internal Revenue Service (IRS) has published the low-income housing tax credit (LIHTC) and private-activity bond caps for 2014. The amount used to determine each state's LIHTC ceiling will be the greater of $2.30 multiplied by the state population or $2,635,000. This is an increase from this year’s $2.25 multiplied by the population and the small state minimum of $2,590,000.

The IRS in Revenue Procedure 2013-35 also announced that the private-activity bond cap will be the greater of $100 multiplied by the state population or $296,825,000. This is an increase from this year’s $95 multiplied by the state population or $291,875,000.