California Tax Credit Allocation Committee Releases List of Proposed Changes for State LIHTC

Monday, August 19, 2019 - 10:45am

The California Tax Credit Allocation Committee (CTCAC) released a memorandum containing a list of proposed changes for the state low-income housing tax credit (LIHTC). Some changes address provisions in the recent state budget legislation, including the addition of $500 million in state LIHTCs and the authority to use the 130 percent basis adjustment from that allocation. The proposals also would eliminate a requirement that all units in 4 percent LIHTC developments awarded from the original state LIHTC allocation be LIHTC units. There are 37 proposed changes and CTCAC will conduct public hearings on the proposals. The target date for adopting the new regulations is Oct. 16.