IRS RELEASES 2017 INFLATION ADJUSTMENTS FOR HOUSING CREDITS AND BONDS

WASHINGTON, D.C. – (RealEstateRama) — 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.

NCSHA

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.

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NCSHA

The National Council of State Housing Agencies (NCSHA) is a nonprofit, nonpartisan organization created by the nation's state Housing Finance Agencies (HFAs) more than 40 years ago to coordinate and leverage their federal advocacy efforts for affordable housing. What began as a small group of executive directors meeting annually has grown into a powerful national association and advocate for HFAs and affordable housing in Washington.

NCSHA represents its members in Washington before Congress, the Administration, and the several federal agencies concerned with housing, including the Department of Housing and Urban Development, the Department of Agriculture, and the Treasury, and with other advocates for affordable housing.

Contact:

Phone: 202-624-7710

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