California Tax Credit Allocation Committee

Regulations (Qualified Allocation Plan)

TCAC will close the comment period for the pending regulation change proposals on August 31, as originally planned. Thereafter, TCAC will propose revisions to some of the proposed changes and open a new, shorter comment period to solicit comments only on the proposed revisions. In other words, TCAC will not accept comments during the second comment period related to items that are not revised. To accommodate this second comment period, staff proposes to bring the final recommended regulation changes to the Committee at the October 21 meeting.

Staff encourages interested parties to comment on all of the pending regulations changes by August 31. This will be the only opportunity to suggest revisions for proposals that will not be revised, and your comments will help inform any proposed revisions. Staff is committed to revising the “back end” proposals (those relating to limits on the distribution of sale and finance proceeds, Section 8 overhangs, and the welfare exemption) but is not committed at this time to revising any other proposed changes. We look forward to receiving your comments.