Bill to Extend California $500 Million Annual LIHTC Boost Fails to Advance

Wednesday, September 4, 2019 - 2:30pm

A bill that would have authorized an extension of California $500 million annual state low-income housing tax credit allocation increase for five years was held under submission in the state Senate’s Appropriations Committee, meaning it won’t advance in this year’s session. Assembly Bill 10 would have authorized the California Tax Credit Allocation Committee to allocate an extra $500 million annually for the state LIHTC through 2024. State budget legislation provided the extra allocation for 2020 and for any subsequent year for which the state Legislature approves the action.