With its announcement of $284 million in funding for California, the U.S. Treasury Department has allocated over $3 billion to states through the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act. To date, 45 state housing authorities have been allocated funding through the program to ease the pressures of the financial downturn on the housing market, and to spur development of affordable housing across the country. A list of funding amounts awarded by state is provided. Read More…