CTCAC Looks At Distributing Additional Tax Credits

The California Tax Credit Allocation Committee has issued a memo on how it plans to distribute an additional $7.3 million in low-income housing tax credits that it will receive this year as a result of the Housing and Economic Recovery Act of 2008.

In its proposal, the Committee said it plans to make the credits available to pending second-round applicants for 9 percent credits "by cascading the additional credits through the various set-asides and geographic apportionments."

A memo is posted on the Committee's Web site at www.treasurer.ca.gov/ctcac/.