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TCAC PROPOSES CHANGES TO LIHTC PROGRAM

Monday, January 8, 2007 - 7:15AM

The California Tax Credit Allocation Committee (TCAC) today announced recommended regulation changes to its low-income housing tax credit (LIHTC) program for 2007. TCAC says there are four substantive changes to the regulations as well as a number of other changes that are meant clarify provisions that were problematic in 2006. TCAC staff will hold public hearings in Sacramento, Oakland and Los Angeles where interested persons can express their views on the proposed regulations. Written comments will also be accepted until 5 p.m. on January 31, 2007. TCAC staff intends to bring final proposed regulation changes before committee for adoption at its February 14, 2007 meeting.

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