At the September 16, 2020 California Debt Limit Allocation Committee (CDLAC) meeting, a CDLAC extension was provided through December 1, 2020 for projects awarded on April 14, 2020. For those projects that were also awarded California Tax Credit Allocation Committee (TCAC) state tax credits, there is a TCAC readiness deadline of October 20, 2020. The May 21, 2020 TCAC memo confirms that when a bond issuance extension is granted by CDLAC, an extension of the TCAC readiness deadline is also granted.
If you are planning to utilize the December 1, 2020 CDLAC extension and have a state tax credit deadline as well, you must contact and inform TCAC staff. Please do so by sending an email to TCACdocs@treasurer.ca.gov.
