The California Tax Credit Allocation Committee (TCAC) has posted its final proposed 2013 regulation changes. The planned changes come after officials held four public hearings on the 2013 low-income housing tax credit program.
Staff had originally proposed 23 substantive regulation changes but now intends to proceed with nine changes at this time, according to a memo from TCAC Executive Director William Pavao.
These include increasing the at-risk housing type goal to 15 percent and applying the percentage in the first tiebreaker. The final proposal also calls for prohibiting sponsors from withdrawing competitive applications so that another one of their submitted deals may succeed in the competition and requiring less-experienced general partners and property management companies to complete a training program.
The latest on the possible changes for 2013 can be found at