California

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The California Tax Credit Allocation Committee (TCAC) this week released the 2011/2012 Proposed Program Schedule & Deadlines for the low-income housing tax credit program. The committee held public hearings this week regarding proposed regulation changes for the 2012 allocation round; proposed updates are forthcoming.

The California Tax Credit Allocation Committee (CTCAC) has released the proposed changes to the state’s Qualified Allocation Plan (QAP) for Low-Income Housing Tax Credits (LIHTC) and has announced the schedule for four public hearings regarding those revisions.

The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.

The California Tax Credit Allocation Committee (CTCAC) released a memo that announced updates have been made to the California Utility Allowance Calculator (CUAC), has answered some frequently asked questions regarding using the calculator for newly constructed tax credit developments and has updated submission requirements.

California’s Tax Credit Allocation Committee (TCAC) has released its proposed 2011/2012 Tax Credit Program Schedule & Deadlines. Public hearings for proposed regulation changes will be held in December 2011.

The California Supreme Court announced this week that it will hear oral arguments in the California Redevelopment Assn. v. Matosantos (S194861) redevelopment case on November 10, 2011.

HUD’s Office of Policy Development & Research has released a new Best Practices case study for a senior apartments project in Salinas, CA.

The California Tax Credit Allocation Committee (TCAC) has reminded allocatees that carryover allocation documentation and payment of the allocation fee for all 2011 9% tax credit reservation recipients is due to TCAC no later than…

The California Supreme Court recent denied the California Redevelopment Association’s (CRA) request for a modified stay that would have allowed redevelopment agencies that agreed to make remittance payments under the alternative redevelopment program to initiate new activities or obligations.

The California Tax Credit Allocation Committee (CTCAC) has proposed regulation changes to the state’s QAP in order to assist projects affected by the pending redevelopment litigation before the California State Supreme Court.

California Tax Credit Allocation Committee (TCAC) announced a proposed readjustment of its geographic regional apportionments for federal and state low-income housing tax credits (LIHTCs). The geographic boundaries used for appropriations were last updated in 2004 but the updated methodology proposes using new 2010 Census data for calculating apportionments and the addition of an 11th region: the City of Los Angeles.

The California Tax Credit Allocation Committee (TCAC) yesterday released a summary of the comments that it received from stakeholders about costs associated with building affordable housing.