California Governor Signs Budget that Includes $500 Million State LIHTC Boost

Friday, June 28, 2019 - 9:15am

California Gov. Gavin Newsom signed a $214 billion budget Thursday that includes a $500 million annual increase in state low-income housing tax credit (LIHTC) allocation and $650 million targeted to provide homes, rental assistance and navigation services to decrease homelessness. The LIHTC increase will go primarily to properties using the 4 percent credit to build new housing.