California Legislature Approves Budget that Includes $500 Million LIHTC Increase

Thursday, June 13, 2019 - 2:15pm

The California Legislature today approved a $214.8 billion budget that includes a $500 million increase for the state low-income housing tax credit (LIHTC). The budget is for the fiscal year that begins July 1 and Gov. Gavin Newsom has 12 days to sign or veto the legislation, although he can use a line-item veto on some budget items. Newsom is a proponent of the LIHTC increase, having included it in his budget request.