|IRS Releases 2017 Inflation Adjustments for Housing Credits and Bonds|
|On October 25, IRS published Revenue Procedure 2016-55, which outlines the inflation adjustments for nearly 50 federal tax provisions, including the amount of Low Income Housing Tax Credit (Housing Credit) authority and Private Activity Bond (PAB) authority each state will receive.
For calendar year 2017, the state Housing Credit ceiling will be the greater of $2.35 multiplied by the state’s population or $2,710,000. While the multiplier remained at the same level as in 2016, the minimum increased slightly from its 2016 level of $2,690,000.
The state private activity bond cap for 2017 will be the greater of $100 multiplied by the state population or $305,315,000. This represents a $3,800,000 increase to the minimum from the 2016 level of $301,515,000.
"This email is intended solely for the person or entity to which it is addressed and may contain confidential and/or privileged information. Any review, dissemination, copying, printing or other use of this email by persons or entities other than the addressee is prohibited. If you have received this email in error, please contact the sender immediately, and delete the material from your computer."