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California Tax Credit Allocating Committee Issues Final Proposed Changes for LIHTC Regulations

Thursday, March 28, 2024 - 10:20AM

The California Tax Credit Allocation Committee (CTCAC) on Wednesday issued final proposed regulations and responses to comments from a list of 10 proposed regulations changes concerning the low-income housing tax credit (LIHTC) issued in February. The final proposed regulations reflect input from the public, clarifying language around the transfer of units within the homeless assistance project; rent increases when a LIHTC property changes owners; eligible basis to better clarify the calculation of the developer fee limit; and application of rent increase limits to apply to households rather than individual units as well as waivers when exceeding rent limit caps. A meeting to consider the adoption of the regulations is scheduled for April 3.

Experts are slated to speak on a panel about California’s approach to affordable housing at the Novogradac 2024 Affordable Housing Conference, May 2-3 in San Francisco.

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