The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2009-50 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2010. For calendar year 2010, the amount used to calculate the state LIHTC is the greater of $2.10 multiplied by the state population or $2,430,000. The amount used calculate the state ceiling for the volume cap for private activity bonds is the greater of $90 multiplied by the state population or $273,775,000. Read More…