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California Legislators Introduce Bill to Boost State LIHTC by $300 Million

Monday, December 19, 2016 - 4:30PM

Five members of the California Assembly today introduced four bills to address California’s affordable housing crisis–including one to boost the state’s low-income housing tax credit (LIHTC) by $300 million per year. AB 71 would eliminate the state mortgage deduction on vacation homes and apply the $300 million annual savings to the state LIHTC. The other bills (AB 72, AB 73, AB 74) address the enforcement of existing state housing laws, encourage the production of housing on infill sites around public transportation and create a program to pay for the cost of housing certain chronically homeless residents on Medi-Cal.

The legislators are David Chiu, Phil Ting, Anna Caballero, Miguel Santiago and Kevin Mullin. All are Democrats and Mullin is the assembly Speaker pro tempore, while Santiago is the majority whip.

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