Each month, the Internal Revenue Service publishes housing credit percentages that apply to buildings placed in service each month under the Housing Tax Credit program.

Maximum 30% present value credit (PVC) rate

For property acquisition expenditures and federally subsidized new construction or substantial rehabilitation expenditures.

NOTE: Under Section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, and before December 31, 2013, shall not be less than 9%.

For more information, see IRS Notice 2008-106, which provides guidance on applying the new 9% floor, or the Housing and Economic Recovery Act of 2008, which set the 9% minimum housing tax credit percentage rate for the 70% credit.