ncsha news update

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.
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.
The National Council of State Housing Agencies, known as NCSHA, is a national nonprofit, nonpartisan association that advocates on behalf of HFAs before Congress and the Administration for affordable housing resources. It represents the HFAs of the 50 states,  the District of Columbia,  New York City, Puerto Rico, and the U.S. Virgin Islands. Visit us on the web at  ncsha.org .