The California Tax Credit Allocation Committee is currently assessing a pending First Round tax-exempt bond application. If approved, the remaining amount of state credits for tax-exempt bond financed projects for the Second Round would be reduced from $1,806,066 to $66,924. This application will not be considered until the July 19, 2017 Committee Meeting, however, TCAC will inform users via ListServ whether staff will be recommending the project prior to the June 28 Second Round application deadline. A note is available on page 2 of the Credit Estimates document regarding this issue.