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California TCAC Releases First Draft of Proposed LIHTC Regulations

Wednesday, December 18, 2002 - 1:45AM

The California Tax Credit Allocation Committee (TCAC) this week released the first draft of the proposed regulations for administering its low-income housing tax credit (LIHTC) program in 2003. Changes include eliminating extra points for proposals in areas without recent tax credit development; establishing greater differentiation in distances, times and types of amenities in the site amenities category; and reconfiguring the geographic regions using new census data and various indices of “need.” TCAC has invited written comments, which should be received no later than 5 p.m. , January 7, 2003 .  Additionally, two public hearings will be held to take public comment on the proposed regulations. For details, click here.

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