IRS Publishes Population Figures For Lihc, Private Bond Purposes.

Generally, § 146(j) requires determining the population figures for the population-based component of both the Credit Ceiling and the Volume Cap for any calendar year on the basis of the most recent census estimate of the resident population of a State (or issuing authority) released by the U.S. Census Bureau before the beginning of the calendar year. Similarly, § 142(k)(5) bases the Volume Limit on the State population.

Sections 42(h)(3)(H) and 146(d)(2) require adjusting for inflation the population-based component of the Credit Ceiling and the Volume Cap. The adjustments for the 2012 calendar year are in Rev. Proc. 2011-52, 2011-45 I.R.B. 701. Section 3.08 of Rev. Proc. 2011-52 provides that, for calendar year 2012, the amount for calculating the Credit Ceiling under § 42(h)(3)(C)(ii) is the greater of $2.20 multiplied by the State population or $2,525,000. Further, section 3.15 of Rev. Proc. 2011-52 provides that the amount for calculating the Volume Cap under § 146(d)(1) for calendar year 2012 is the greater of $95 multiplied by the State population or $284,560,000.

For the 50 states, the District of Columbia, and Puerto Rico, the population figures for calculating the Credit Ceiling, the Volume Cap, and the Volume Limit for the 2012 calendar year are the resident population estimates released electronically by the U.S. Census Bureau on December 21, 2011, in Press Release CB11-215. For American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands, the population figures for the 2012 calendar year are the 2010 population counts released electronically by the U.S. Census Bureau on August 24, 2011, in Press Releases CB11-CN.177, CB11-CN.179, CB11-CN.178, and CB11-CN.180, respectively.

For convenience, these figures are reprinted below.

             Resident Population Figures