The state low-income housing tax credit ceiling will be the greater of $2.20 multiplied by the state population, or $2,525,000, in 2012, announced the Internal Revenue Service.
That is an increase from $2.15 multiplied by the state population, or $2,465,000, this year.
The amount used to calculate the state ceiling for the volume cap for private-activity bonds will be the greater of $95 multiplied by the state population, or $284,560,000, next year. This is a change only to the small state minimum, which is $277,820,000 this year.
The new inflation-adjusted ceilings were announced in Revenue Produce 2011-52.