California

Governor Jerry Brown has appointed Claudia Cappio as Executive Director of the California HFA. Ms. Cappio comes to the Agency with a background in land use planning, project development and administration, including affordable housing.

California Tax Credit Allocation Committee has published its 2011 Application Workshop Questions and Answers on its website.

California Tax Credit Allocation Committee has issued a notice announcing 2011 estimates for its annual tax credit set asides and geographic apportionments.

The California Tax Credit Allocation Committee (CTCAC) will be providing 2011 LIHTC application training workshops in four locations in the State to provide instructions for submitting competitive and eligible applications.

The California Tax Credit Allocation Committee (CTCAC) recently released substantive regulation changes for 2011. In addition, CTCAC has released original proposed changes with comments and responses.

California’s Tax Credit Allocation Committee has scheduled a series of eight low-income housing tax credit compliance workshops for affordable housing owners and management companies.

California Governor Jerry Brown recently submitted his proposed budget for 2011 12 to the state’s legislature. His proposed budget would make significant changes to economic development activities in California, including eliminating redevelopment agencies and enterprise zones by July 1.

The California Tax Credit Allocation Committee (CTCAC) has announced a policy change related to the U.S. Housing and Urban Development’s tenant income collection (TIC) initiative.

A ballot initiative approved by California voters last week known as Proposition 26 may mean that federal Section 1603 renewable energy tax credit cash grants will soon be treated as taxable income.

The California Tax Credit Allocation Committee (CTCAC) is preparing forms for the 30 percent test to be utilized by owners of projects that have received an award of Section 1602 funds, and that the forms will be available on September 1.

The California Tax Credit Allocation Committee (CTCAC) has issued a memorandum to low-income housing tax credit property owners and managers announcing new policy changes for its 2010 compliance monitoring program.

The California Tax Credit Allocation Committee has released estimated totals and set-asides of tax credit funding available in 2010 through the state’s competitive allocation process.