The California Tax Credit Allocation Committee (CTCAC) published Proposed Regulation Changes with Initial Statement of Reasons. Comments should be sent to Anthony Zeto at Anthony.zeto@treasurer.ca.gov by 5 p.m. PT on April 26. The changes will be considered by CTCAC’s board at its May 10 meeting. The changes include:

  • Increasing the two-bedroom nine percent limit from $400,000 to $500,000;
  • Allowing waitlisted project to be eligible for a reservation exchange;
  • Clarifying that only projects allocated tax-exempt bonds from CDLAC will be eligible to receive State Tax Credits;
  • Requiring CTCAC to annually publish the amount of State Tax Credits available in reservation cycle; and
  • Providing grace periods to submit signed acceptance of a tax credit reservation and performance deposits.

CTCAC will hold a hearing from 1 to 4 p.m. PT on April 19 in-person (901 P Street, Room 102 Sacramento, CA  95814), via Teams (join here) and via phone (dial 888) 557‐8511 and code 5651115).