LIHTC Per-Capita Multiplier Increase for 2024 Ties Record Set this Year

On November 13, 2023 — Novogradac shared the following Industry Alert:

WASHINGTON–Nov. 9, 2023–The 9% federal low-income housing tax credit (LIHTC) per-capita multiplier will increase 15 cents in 2024 to $2.90, tying the record set last year for the largest year-over-year increase without legislative cause since 2003, when the credit began being adjusted for inflation. Revenue Procedure 2023-34 , released today by the Internal Revenue Service (IRS), also increases the small-state minimum for 9% LIHTCs to a record $3,360,000 and the private-activity bond (PAB) per-capita multiplier increases to a record $125. Those figures this year were $3,185,000 and $120. The PAB small-state minimum also increased by nearly $20 million to $378,230,000.