The California Tax Credit Allocation Committee (TCAC) has released a revised set of proposed regulation changes to the American Recovery and Reinvestment Act programs and tax credit program tiebreaker. The initial proposals were modified based on public comments received by TCAC. Final recommended changes include:
- Add provisions to the proposed bonus scoring for 100 percent (100%) project-based rental assistance developments. Additional provisions would scale the 25 bonus points down for projects with fewer than 100% project-based voucher units. In addition, bonus points would only be available for projects with project-based voucher contracts of at least 15 years.
- Delete proposed change allowing retention a portion of four percent (4%) credits where TCAC has awarded cash-in-lieu of those credits.
- Clarify that, while TCAC shall levy no additional fees upon ARRA fund recipients, tax credit allocation fees and other appropriate fees must be paid by all ARRA funding recipients.
