California TCAC Expected to Publish First Draft of 2004 LIHTC Regulations
The California Tax Credit Allocation Committee (TCAC) is expected to soon publish a first draft of the proposed 2004 low-income housing tax credit (LIHTC) regulations. TCAC expects that there will be several changes to the regulations for next year, among them, revisiting both the delineation of geographic areas in which many applicants compete, as well as the percentages of credit ascribed to those areas. Additionally, the committee anticipates some changes to the tie-breakers, and possibly to the leveraging section of the regulations. Although TCAC staff usually publishes a first draft of the regulations prior to gathering public input and comment, it was decided that it might be helpful to the process to hold various meetings prior to the publication of any proposed regulatory changes. In furtherance of that goal, TCAC will hold meetings for interested parties to express their views on the proposal.