With the release of two Revenue Procedures, the IRS sets the per-capita multiplier for nine percent LIHTCs ($2.75) and the small state minimum ($3,185,000), as well as the private bond multiplier ($120) and the small state minimum ($358,845,000) (Revenue Procedure 2022-38). The increases, which are tied to inflation, represent some of the highest amounts for the programs. The only nine percent per-capita increases higher than the 2023 figures were due to legislative increases: the Housing and Recovery Act in 2009 and the Consolidated Appropriations Act of 2018.

And, in Revenue Procedure 2022-37, the IRS reallocates $5,423,591 of unused LIHTCs to 27 states.