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14 items relating to the adoption credit.) .20 Private Activity Bonds Volume Cap. For calendar year 2024, the amounts used under § 146(d) to calculate the State ceiling for the volume cap for private activity bonds is the greater of (1) $125 multiplied by the State population, or (2) $378,230,000. .21 Loan Limits on Agricultural Bonds. For calendar year 2024, the loan limit amount on agricultural bonds under § 147(c)(2)(A) for first-time farmers is $649,400. .22 General Arbitrage Rebate Rules. For bond years ending in 2024, the amount of the computation credit determined under § 1.148-3(d)(4) of the Income Tax Regulations is $2,070. .23 Safe Harbor Rules for Broker Commissions on Guaranteed Investment Contracts or Investments Purchased for a Yield Restricted Defeasance Escrow. For calendar year 2024, under § 1.148-5(e)(2)(iii)(B)(1) of the Income Tax Regulations, a broker’s commission or similar fee for the acquisition of a guaranteed investment contract or investments purchased for a yield restricted defeasance escrow is reasonable if (1) the amount of the fee that the issuer treats as a qualified administrative cost does not exceed the lesser of (A) $49,000, and (B) 0.2 percent of the computational base (as defined in § 1.148-5(e)(2)(iii)(B)(2)) or, if more, $5,000; and (2) for any issue, the issuer does not treat more than $138,000 in brokers’ commissions or similar fees as qualified administrative costs for all guaranteed investment contracts and investments for yield restricted defeasance escrows purchased with gross proceeds of the issue. .24 Gross Income Limitation for a Qualifying Relative. For taxable years beginning in 2024, the exemption amount referenced in § 152(d)(1)(B) is $5,050. .25 Election to Expense Certain Depreciable Assets. For taxable years beginning in