The California Tax Credit Allocation Committee (TCAC) published the 2020 credit estimates, which also includes the disaster credits from the Further Consolidated Appropriations Act, 2020.
Disaster tax credit applications will be accepted for the TCAC 2020 July 1 competitive round, and the 2021 competitive rounds (please see TCAC Program Schedule & Deadlines). Certain application requirements have been modified for disaster tax credit applications. However, there is not a separate Excel application for disaster tax credits; for the July 2020 competitive round, complete the 2020 nine percent Competitive Tax Credit Application (June 19, 2020). Point score categories not applicable to disaster tax credit applications are: site amenities, sustainable building methods, readiness to proceed and miscellaneous federal and state policies. The normal nine percent tiebreakers are not applicable (please refer to TCAC Regulation §10325(d)(1) for the disaster tax credit tiebreakers). Applicants may leave these sections of their application blank. For the threshold requirement exemptions applicable to certain projects (CDBG-DR funding and zoning), applicants do not need to complete these sections of their application checklist/attachments.
Instructions for viewing 2017 and 2018 fire perimeter maps are available here.
Unsuccessful applications for disaster tax credits will be considered in the normal nine percent credit competition and will be scored and reviewed for compliance with all competitive application requirements, including those exemptions listed in the paragraph above. Applicants requesting more than $2,500,000 in federal tax credits are not eligible to compete in the normal nine percent credit competition. Applicants requesting the disaster credit federal DDA basis boost are eligible to retain the basis boost in the normal nine percent credit competition. TCAC will evaluate applications based on the documents in the application; no new documentation may be submitted after the application deadline, unless permitted by TCAC regulations (for example, an updated Attachment 26 or a disaster tax credit LRA letter of support).
