On November 15, the IRS issued Revenue Procedure 2018-57 which, among other tax inflation adjustments, announced the 2019 inflation-adjusted amount for the Low-Income Housing Tax Credit (Housing Credit) and Private Activity Bond (PAB) caps. The Revenue Procedure sets the Housing Credit ceiling at the greater of $2.7525 multiplied by the state’s population or $3,166,875.  The State ceiling for PAB volume will be the greater of $105 multiplied by the state’s population or $316,745,000.