LIHTC Per-Capita Multiplier Reaches $3 For the First Time
WASHINTON October 28th, 2024 – The IRS announces the per-capita multiplier for the federal 9% LIHTC will increase to $3 for the first time, marking a 10-cent increase from the previous year. Also, the small-state minimum for the 9% LIHTC will also rise to $3,455,000, up from $3,360,000 in 2024. This change represents a notable milestone in the effort to enhance affordable housing financing across the country.
The updated multiplier means that the amount used to determine states’ housing credit ceiling will now be calculated as $3 multiplied by the state population. This increase is especially significant for states with larger populations, i.e. California, Texas, and Florida as it allows for a greater allocation of resources to support the development and rehabilitation of affordable housing projects.
We are an underwriting surety agency specializing in P&P and other bonds for LIHTC (4% & 9% and state-based programs), Market Rate developers [HUD 221 (d) (4), etc.,] and GCs. We effortlessly guide our clients through the otherwise difficult approval maze with an innate understanding of how the surety companies think, and exactly what is needed for bond approval. Headquartered in Charleston, South Carolina, we are licensed in 50 states and represent clients nationwide. LIHTC Bonds Ltd Co is an affiliate of Carolina Indemnity Group.
