IRS Announces 2009 Credit, Bond Caps
By Caitlin Jones & A. J. Johnson
1 min read
New IRS Revenue Procedure 2008-66 specifies the inflation-adjusted volume caps for each state for calendar 2009 for low-income housing tax credits and for tax-exempt private activity bonds. The credit volume gap for each state will be the greater of $2.30 multiplied by the state’s population or $2,265,000. The bond volume cap will be the greater of $90 times the state’s population or $273,270,000.
