IRS Announces State Housing Credit Authority and Bond Volume Cap for 2012

On October 20, the IRS announced that the states’ Low Income Housing Tax Credit (Housing Credit) authority and private activity bond volume cap will receive inflation adjustments in 2012.  Each state’s 2012 Housing Credit authority will be the greater of $2.20 per capita and $2,525,000, up from $2.15 per capita and $2,465,000 in 2011.  Each state’s 2012 private activity bond cap will be the greater of $95 per capita and $284,560,000, reflecting no change from the 2011 per capita amount and an increase from the 2011 minimum of $273,775,000.