Sign Up For Novogradac Industry Alert Emails

TCAC ANNOUNCES NEW DRAFT BASIS LIMITS

Tuesday, June 19, 2007 - 7:30AM

Following public forums held in March and April, the California Tax Credit Allocation Committee (TCAC) announced last week that its staff has developed a draft set of basis limits for the low-income housing tax credit (LIHTC) program using a new methodology. TCAC says its staff is using data that is more relevant than the federal Section 221(d)(3) limits to establish reasonable development cost maximums for establishing basis limits. Additional information is also posted online at www.treasurer.ca.gov/CTCAC/.

Learn more about Novogradac's expertise and many services