State Tax Credit
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
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Recognizing the extremely high cost of developing housing in California, the state legislature authorized a state low income housing tax credit program to augment the federal Low Income Housing Tax Credit (LIHTC) program. Authorized by Chapter 1138, Statutes of 1987, the state credit is only available to a project which has previously received, or is concurrently receiving, an allocation of LIHTCs. Thus the state program does not stand alone, but supplements the LIHTCt program. Investors claim the state credit over a four-year period, rather than the ten-year federal allocation period.
Funding Description:
The state credit ceiling for 2014 is approximately $103 million..The state credit ceiling for 2015 was approximately $94 million and will be increased by any unused or returned credits from previous years.
Website: http://www.treasurer.ca.gov/ctcac/program.pdf
Contact: California Tax Credit Allocation Committee, 916-654-6340
