The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013. For 2013, the amount used to calculate the State housing credit ceiling for the LIHTC is the greater of $2.25 multiplied by the State population, or $2,590,000. In addition, the volume cap for private activity bonds is the greater of $95 multiplied by the State population, or $291,875,000. These rates will be published in Internal Revenue Bulletin 2012-45 on November 5, 2012.

Estimated Credit Authority by State for 2013:

State

Estimated 2013 LIHTC Authority

Alabama

$10,806,165

Alaska

$2,590,000

Arizona

$14,585,636

Arkansas

$6,610,452

California

$84,806,802

Colorado

$11,512,791

Connecticut

$8,056,595

Delaware

$2,590,000

District of Columbia

$2,590,000

Florida

$42,879,470

Georgia

$22,084,223

Hawaii

$3,093,323

Idaho

$3,566,216

Illinois

$28,955,828

Indiana

$14,663,075

Iowa

$6,890,195

Kansas

$6,460,286

Kentucky

$9,831,051

Louisiana

$10,293,381

Maine

$2,988,423

Maryland

$13,113,650

Massachusetts

$14,821,956

Michigan

$22,221,421

Minnesota

$12,025,937

Mississippi

$6,701,652

Missouri

$13,524,048

Montana

$2,590,000

Nebraska

$4,145,942

Nevada

$6,127,475

New Hampshire

$2,965,937

New Jersey

$19,847,599

New Mexico

$4,685,004

New York

$43,796,693

North Carolina

$21,726,902

North Dakota

$2,590,000

Ohio

$25,976,140

Oklahoma

$8,530,893

Oregon

$8,711,683

Pennsylvania

$28,671,494

Rhode Island

$2,590,000

South Carolina

$10,528,268

South Dakota

$2,590,000

Tennessee

$14,407,544

Texas

$57,768,032

Utah

$6,338,750

Vermont

$2,590,000

Virginia

$18,217,359

Washington

$15,367,586

West Virginia

$4,174,569

Wisconsin

$12,851,476

Wyoming

$2,590,000

Click here to read Revenue Procedure 2012-41.