On March 20, the Internal Revenue Service (IRS) issued Notice 2023-22 providing the resident population figures needed to determine the 2023 private activity bond (PAB) volume cap and the population-based component of the Housing Credit ceiling.
For the calendar year 2023:
- The Texas Resident Population Figure is 30,029,572.
- The amount for calculating the Credit Ceiling is the greater of $2.75 multiplied by the State population, or $3,185,000.
- The amount for calculating the Volume Cap is the greater of $120 multiplied by the State population, or $358,845,000.