California TCAC Holds Oct. 14 Meeting, Oct. 15 Hearing on FCAA Regulations

The California Tax Credit Allocation Committee (TCAC) will meet on October 14 at 1 p.m. PT on October 14 to consider several items, including:

• 2020 application for reservation of Federal four percent LIHTCs for tax-exempt bond financed projects;
• 2020 second round applications for reservation of Further Consolidated Appropriations Act (FCAA) Federal nine percent LIHTCs;
• 2020 second round applications for reservation of Federal nine percent and State LIHTCs;
• 2020 second round applications for reservation of Federal four percent and State LIHTCs for tax-exempt bond financed projects; and
• A resolution establishing a waiting list of pending applications for Federal nine percent and State LIHTCs.

TCAC will hold a public hearing at 2 p.m. PT on October 15 on proposed amendments to the regulations governing the FCAA disaster credits. In addition to a few minor changes, the primary change is to implement a September 1, 2021 construction start deadline.