California TCAC Releases Final Proposed Regulations for LIHTC Properties Affected by Shutdown

Wednesday, February 27, 2019 - 9:00am

The California Tax Credit Allocation Committee this week released final proposed regulation changes concerning low-income housing tax credit properties affected by the partial shutdown of the federal government. The revisions include an adjustment from 45 additional days to 60 additional days for developments that committed to complete financing within a designated period for maximum scoring in 2018 second-round tax credit awards–if their funding was impacted by the shutdown. The revisions also includes a clarification that the timetable and explanation of how the development was affected must be in written format.