IRS Publishes Housing Credit and Bond Caps for 2015
On October 30, IRS published Revenue Procedure 2014-61, establishing inflation-adjustments for various tax provisions and setting the Housing Credit and Private Activity Bonds volume caps for 2015.
For calendar year 2015, the state Housing Credit ceiling will be the greater of $2.30 multiplied by the state’s population or $2,680,000. While the multiplier remained at the same level as in 2014, the small state minimum is increased slightly from its 2014 level of $2,635,000.
The state private activity bond cap for 2015 will be set at the greater of $100 multiplied by the state population (the same as 2014) or $301,515,000. In 2014, the small state minimum was $296,825,000.