Sign Up For Novogradac Industry Alert Emails

California Governor Signs Farmworker Housing LIHTC Bill; Vetoes Senior Set-Aside Boost

Monday, October 9, 2023 - 9:30AM

California Gov. Gavin Newsom signed one bill and vetoed another concerning the state’s allocation of the federal low-income housing tax credit (LIHTC). Newsom signed A.B. 1439, which requires the California Tax Credit Allocation Committee (CTCAC) to consider amending the scoring system for the federal LIHTC to award maximum credits for farmworker housing properties and to provide additional points for additional amenities. The bill also provides the lesser of 5% of the $200 million designated under the state’s mixed-income program or $25 million per year to farmworker housing. Meanwhile, Newsom vetoed S.B. 17, which would have boosted the senior property set-aside in the annual LIHTC allocation from 15% to 20%. Newsom’s veto message said that the change could adversely affect other populations and that CTCAC has the authority to make such a change “with a robust stakeholder process to inform any adjustments.”

The Novogradac Introduction to Low-Income Housing Tax Credits booklet is an introduction to the LIHTC, providing a brief, substantive look into the background and structure of the incentive.

Learn more about Novogradac's expertise and many services