California Tax Credit Allocation Committee Adopts Income Tax Regulations on Low-Income Housing Tax Credits

The California Tax Credit Allocation Committee May 31 adopted regulations on the Low-Income Housing Tax Credit (LIHTC) Program for individual income and corporate income tax purposes. The regulations implement federal and state LIHTC laws. The regulations took effect on April 3. [Cal. Tax Credit Allocation Comm., Regs. Sections 10315, 10317 et al., 05/31/24 Cal. Reg. Notice Reg.]