California Legislature Approves Legislation to Separate Federal, State LIHTC

Friday, June 2, 2000 - 1:45AM

The California State Assembly unanimously passed legislation that would allow California’s state tax credit to be separated from the federal credit last month. By a vote of 77-to-0, the Assembly approved A.B. 1903 May 25, by State Assembly member Alan Lowenthal (D-Long Beach). The legislation would allow the California state low-income housing tax credit to be separated from the federal tax credit. This change would allow federal and state credits to be sold to different classes of investors. Proponents of the measure say it would increase the value of both types of tax credits. The bill will now move to the state Senate for consideration. To access A.B. 1903, click here.

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