(a) Meetings.
Except for reservations made pursuant to Section
10325(h) of these
Regulations, Reservations of Tax Credits shall occur only at scheduled meetings
of the Committee, which shall announce application-filing deadlines and the
approximate dates of reservation meetings as early in the year as
possible.
(b) Approvals required by
this Section
10320(b) shall not
be unreasonably withheld if all of the following requirements, as applicable,
are satisfied:
(1) No allocation of the
Federal or State Credits, or ownership of a Tax Credit project, may be
transferred without prior written approval of the Executive Director. In the
event that prior written approval is not obtained, the Executive Director may
assess negative points pursuant to section
10325(c)(2)(M), in
addition to other remedies. Subparagraphs (A) through (C) apply to all
ownership or Tax Credit transfers requested after January 31, 2014.
Subparagraphs (A) through (E) apply to all ownership or Tax Credit transfers
requested after April 3, 2024:
(A) Any
transfer of project ownership (including changes to any general partner,
member, or equivalent responsible party), or allocation of Tax Credits shall be
evidenced by a written agreement between the parties to the transfer, including
agreements entered into by the transferee and the Committee.
(B) The entity replacing a party or acquiring
ownership or Tax Credits shall be subject to a "qualifications review" by the
Committee to determine if sufficient project development and management
experience is present for owning and operating a Tax Credit project.
Information regarding the names of the purchaser(s) or transferee(s), and
detailed information describing the experience and financial capacity of said
persons, shall be provided to the Committee. Any general partner change during
the 15-year federal compliance and extended use period must be to a party
earning equal capacity points pursuant to Section
10325(c)(1)(A) as
the exiting general partner. At a minimum this must be three (3) projects in
service more than three years, or the demonstrated training required under
Section
10326(g)(5). Two
of the three projects must be Low Income Housing Tax Credit projects in
California. If the new general partner does not meet these experience
requirements, then substitution of general partner shall not be permitted. The
requirements of this paragraph apply to a change to any general partner,
member, or equivalent responsible party where an exiting party meets the
experience capacity and the remaining party does not have experience equal to
the minimum stated above.
(C) The
transferor shall deliver all tenant files, inspection records, financial
statements, and reserve balances to the transferee prior to or concurrent with
the transfer. Failure to deliver such records may subject the transferor to
negative points or a fine.
(D) The
Executive Director shall not approve a transfer if, in any of the five calendar
years prior to the transfer date or in the year to date of the transfer but not
earlier than April 3, 2024, the owner has increased the rent for any low-income
household in excess of the amounts described in Section 10336(a).
(E) The transferee shall annually certify
that they have not increased the rent for any low-income household in excess of
the amounts described in Section 10336(a).
(2) In addition to any applicable
requirements set forth in Section
10320(b)(1), all
Transfer Events shall be subject to the prior written approval of the Executive
Director. In the event that prior written approval is not obtained, the
Executive Director may assess negative points pursuant to section
10325(c)(2)(M), in
addition to other remedies. The following requirements apply to all Transfer
Events for which approval is requested on or after October 21, 2015:
(A) Prior to a Transfer Event, the owner of
the project shall submit to the Executive Director a Qualified Capital Needs
Assessment. In the case of a Transfer Event in which a third-party lender is
providing financing, the Qualified Capital Needs Assessment shall be
commissioned by said third-party lender.
(B) The entity which shall own the project
subsequent to the Transfer Event (the "Post Transfer Owner") shall covenant to
the Committee (the "Capital Needs Covenant") that the Post Transfer Owner (and
any assignee thereof) shall:
(i) set aside at
the closing of the Transfer Event adequate funds to perform the Short Term Work
(the "Short Term Work Reserve Amount");
(ii) perform the Short Term Work within three
(3) years from the date of the Transfer Event;
(iii) make deposits to reserves as are
necessary to fund the Long Term Work, taking into account any balance in
replacement reserve accounts upon the conclusion of the Transfer Event beyond
those required by clause (i). Notwithstanding the foregoing, the Post Transfer
Owner shall have no obligation to fund any reserve amount from annual
operations to the extent that the funding of the reserve causes the project to
have a debt service coverage ratio of less than 1.00 to 1.00. In calculating
the debt service coverage ratio for the purposes herein, the property
management fee shall not exceed the greater of (a) 7% the project's effective
gross income, or (b) such amount approved by HUD or USDA, as applicable. Any
property management fee in excess of these limitations shall be subordinate to
the funding of the required reserves and shall not be considered when
calculating the debt service coverage ratio; and
(iv) complete the Long Term Work when
required, or prior thereto, pursuant to the Qualified CNA.
(C) The Executive Director may waive or
modify the requirements of this Section
10320(b)(2)(A) and
(B) if the owner can demonstrate that the
Transfer Event will not produce, prior to any distributions of Net Project
Equity to parties related to the sponsor, developer, limited partner(s) or
general partner(s), sufficient Net Project Equity to fund all or any portion of
the work contemplated by the Qualified CNA. There shall be a presumption that a
Transfer Event has insufficient Net Project Equity (and the requirements of
this Section
10320(b)(2)(A) and
(B) shall be waived) if no Net Project Equity
from the Transfer Event is distributed to parties related to the sponsor,
developer, general partner(s) or limited partner(s) of the owner other than a
distribution or a payment to the limited partner(s) of the selling entity in
the amount equal to, or less than, all federal, state, and local taxes incurred
by the limited partner(s) as a result of the Transfer
Event.
(3) The Capital
Needs Covenant shall at all times be subordinate to any deed of trust given to
any third party lender to a project. The owner of a project subject to a
Capital Needs Covenant shall certify compliance with the terms of said Capital
Needs Covenant to CTCAC annually for the term of the Capital Needs Covenant on
a form to be developed by the Executive Director. Failure to comply with the
terms of the Capital Needs Covenant may subject the owner to negative points
and/or a ban on buying or receiving future properties.
(4) If a projects seeks to receive a new
reservation of 9% or 4% tax credits concurrently with a Transfer Event or
during the time that the project is subject to a Capital Needs Covenant, the
following provisions shall apply in lieu of paragraph (2):
(A) The applicant shall submit a Qualified
CNA. In cases in which a third-party lender is providing financing, the
Qualified CNA shall be commissioned by said third-party lender.
(B) The rehabilitation scope of work shall
include all of the Short Term Work. The applicant may receive eligible basis
for the costs of the Short Term Work only if the applicant can demonstrate that
the Short Term Work was funded by one of the following:
(i) a credit from the seller of the project
equal to the costs of Short Term Work.
(ii) a reduction in the purchase price of the
project as compared to the purchase price of the project had the project not
been subject to the Transfer Event requirement, as shown by an appraisal that
calculates the impact of the Short Term Work requirement on value.
(iii) general partner equity.
(iv) developer fee contributed to the project
(a deferred developer fee does not qualify).
(C) After the Transfer Event giving rise to
the covenant required pursuant to Section
10320(b)(2)(B)
(the "Initial Transfer"), if the project will be subsequently transferred in
connection with the closing of the new reservation of 9% or 4% credits (a
"Subsequent Transfer"), any increase in acquisition price (if the Initial
Transfer was a sale) or the project valuation (if the Initial Transfer was a
refinancing) between the Initial Transfer and the Subsequent Transfer which is
attributable to a reduction in the amount of annual deposits into the
replacement reserve account from those required pursuant to Section
10320(b)(2)(B)(iii)
because all or a portion of the Long Term Work will be performed in connection
with the new reservation of 9% or 4% credits, must be evidenced in the form of
(i) a seller carryback note or (ii) a general partner equity
contribution.
(D) Upon the closing
of the syndication of the new 9% or 4% credits reserved for the project, any
Capital Needs Covenant shall automatically terminate without any further action
of the project owner and/or the Committee.
The Executive Director shall waive or modify the requirements
of this Section
10320(b)(4) if the
owner can demonstrate that the Transfer Event will not produce, prior to any
distributions of Net Project Equity to parties related to the sponsor,
developer, limited partner(s) or general partner(s), sufficient Net Project
Equity to fund all or any portion of the work contemplated by the Qualified
Capital Needs Assessment. There shall be a presumption that a Transfer Event
has insufficient Net Project Equity if no Net Project Equity from the Transfer
Event is distributed to parties related to the sponsor, developer, general
partner(s) or limited partner(s) of the owner other than a distribution or a
payment to the limited partner(s) of the selling entity in the amount equal to,
or less than, all federal, state, and local taxes incurred by the limited
partner(s) as a result of the Transfer Event.
Sections
10320(b)(4)(B) and
10320(b)(4)(C)
shall not be applicable to any project with an existing tax credit regulatory
agreement with a remaining term of five (5) or less years.
(E) The Executive Director shall waive or
modify the requirements of this Section
10320(b)(4) if the
owner can demonstrate that the Transfer Event will not produce, prior to any
distributions of Net Project Equity to parties related to the sponsor,
developer, limited partner(s) or general partner(s), sufficient Net Project
Equity to fund all or any portion of the work contemplated by the Qualified
CNA. There shall be a presumption that a Transfer Event has insufficient Net
Project Equity if no Net Project Equity from the Transfer Event is distributed
to parties related to the sponsor, developer, general partner(s) or limited
partner(s) of the owner other than a distribution or a payment to the limited
partner(s) of the selling entity in the amount equal to, or less than, all
federal, state, and local taxes incurred by the limited partner(s) as a result
of the Transfer Event.
(F) Sections
10320(b)(4)(B) and
10320(b)(4)(C)
shall not be applicable to any project with an existing tax credit regulatory
agreement with a remaining term of five (5) or less years.
(5) No management company of an existing or
new tax credit project shall be replaced without prior written approval of the
Executive Director. In the event that prior written approval is not obtained,
the Executive Director may assess negative points or a fine. With respect to 4%
tax credit projects, management companies ineligible for at least two
management company experience points pursuant to Section
10325(c)(1)(B)
shall obtain training in project operations, on-site certification, fair
housing law, and manager certification in IRS Section
42 program requirements from CTCAC
or a CTCAC-approved, nationally recognized entity. The out-going management
company shall deliver all tenant files, inspection records, financial
statements, and reserve balances to the in-coming management company prior to
or concurrent with the transfer. Failure to deliver such records may subject
the out-going management company to negative points or a fine.
(6) Except for resyndication applications
without a distribution of Net Project Equity, if a project seeks to receive a
new reservation of 9% or 4% tax credits, any uncorrected Form(s) 8823 for life
and safety violations (life-threatening and non-life threatening) and for
Uniform Physical Condition Standards violations that are in existence at the
time of the CTCAC application must be corrected by the project owner that
received the Form(s) 8823. The resyndication application shall not include any
costs to correct these Form(s) 8823.
(7) An applicant seeking to (1) demolish or
similarly alter any of the existing structures currently subject to CTCAC
regulatory restrictions when seeking a new reservation of 9% and/or 4% tax
credits; and/or (2) separate an existing project currently subject to CTCAC
regulatory restrictions into multiple projects must request and receive prior
written approval of the Executive Director. Projects that involve the
demolition of existing residential units or separating an existing project must
increase the unit count by (i) 25 or (ii) 50% of the existing demolished units,
whichever is greater, unless, for existing SRO projects, waived by the
Executive Director provided that the applicant demonstrates that full
compliance would be impractical.
(8) A project owner seeking to sell a portion
of vacant or unused land must request and receive prior written approval of the
Executive Director. The sales proceeds must either:
1) be contributed (not loaned) to a new
multifamily affordable housing restricted project; or
2) reduce rents at the existing property by
the aggregate amount of the proceeds. The project owner must request and
receive prior written approval of the Executive Director.
(c) CTCAC shall initially
subordinate its regulatory contract to a permanent lender but thereafter shall
not subordinate existing regulatory contracts to acquisition or refinancing
debt, except in relation to new Deeds of Trust for rehabilitation loans,
FHA-insured loans, restructured public loans, or as otherwise permitted by the
Executive Director. At the request of the owner, CTCAC shall enter into a
stand-still agreement permitting the acquisition or refinance lender 60 days to
work with the owner to remedy a breach of the regulatory contract prior to
CTCAC implementing any of the remedies in the regulatory contract, except that
CTCAC shall not enter into a stand-still agreement related to a Transfer Event
requested on or after October 21, 2015 unless the conditions of Section
10320(b)(2) have
been satisfied. If CTCAC enters into a stand-still agreement related to a
Transfer Event, Sections
10320(b)(2), (b)(3) and
(b)(4) shall apply to the project.
(d) False information. Upon being informed,
or finding, that information supplied by an applicant, any person acting on
behalf of an applicant, or any team member identified in the application,
pursuant to these regulations, is false or no longer true, and the applicant
has not notified CTCAC in writing, the Committee may take appropriate action as
described in H & S Code Section 50199.22(b) and in section
10325(c)(2) of
these regulations. Additionally the Executive Director may assess negative
points to any or all members of the development team as described in Section
10322(h)(5).
(e) CTCAC shall not enter into a qualified
contract, as defined in IRC Section
42(h)(6)(F).
Notes
Cal. Code Regs.
Tit. 4, §
10320
Note: Authority cited: Section 50199.17, Health and Safety
Code. Reference: Sections
12206,
17058 and 23610.5, Revenue and
Taxation Code; and Sections 50199.4, 50199.5, 50199.6, 50199.7, 50199.8,
50199.9, 50199.10, 50199.11, 50199.12, 50199.13, 50199.14, 50199.15, 50199.16,
50199.17, 50199.18, 50199.20, 50199.21 and 50199.22, Health and Safety
Code.
Note: Authority cited: Section
50199.17,
Health and Safety Code. Reference: Sections
12206,
17058
and
23610.5,
Revenue and Taxation Code; and Sections
50199.4,
50199.5,
50199.6,
50199.7,
50199.8,
50199.9,
50199.10,
50199.11,
50199.12,
50199.13,
50199.14,
50199.15,
50199.16,
50199.17,
50199.18,
50199.20,
50199.21
and
50199.22,
Health and Safety Code.
1. Repealer and new
section filed 7-30-90 as an emergency; operative 7-17-90 (Register 90, No. 41).
A Certificate of Compliance must be transmitted to OAL by 11-14-90 or emergency
language will be repealed by operation of law on the following day. This action
is not subject to review by OAL (Health and Safety Code section 50199.17). For
prior history, see Register 89, No. 2.
2. Readoption as an emergency
of action originally filed as emergency on 7-30-90 filed 11-26-90; operative
11-13-90 (Register 91, No. 4). A Certificate of Compliance must be transmitted
to OAL by 3-26-91 or emergency language will be repealed by operation of law on
the following day.
3. Readoption of emergency action filed 11-26-90,
filed 1-4-91 as an emergency; operative 12-18-90 pursuant to Health and Safety
Code section
50199.17
(Register 91, No. 8). The regulation will be repealed by operation of law on
4-17-91 unless, before that date the committee has completed the adoption
process pursuant to Health and Safety Code section
50199.17(b).
4.
Readoption of emergency actions filed 11-26-90 and 1-4-91 as an emergency filed
4-19-91 as an emergency; operative 3-28-91 pursuant to Health and Safety Code
section
50199.17
(Register 91, No. 21). A Certificate of Compliance must be transmitted to OAL
on 7-26-91 or emergency language will be repealed by operation of law on the
following day.
5. Certificate of Compliance as to 3-28-91 order
transmitted to OAL 7-16-91 and filed 8-15-91 pursuant to Health and Safety Code
section
50199.17(b)
(Register 91, No. 48).
6. Amendment of subsections (a), (d) and (e)
filed 3-16-92 as an emergency; operative 1-16-92 (Register 92, No. 25). A
Certificate of Compliance must be transmitted to OAL 7-14-92 or emergency
language will be repealed by operation of law on the following
day.
7. Repealer and new section filed 7-1-92 as an emergency;
operative 5-15-92 (Register 92, No. 28). A Certificate of Compliance must be
transmitted to OAL by 11-2-92 or emergency language will be repealed by
operation of law on the following day.
8. Repealer and new section
refiled, with amendment of subsection (b), 11-9-92 as an emergency; operative
8-31-92 (Register 92, No. 46). A Certificate of Compliance must be transmitted
to OAL 3-9-93 or emergency language will be repealed by operation of law on the
following day.
9. Repealer and new section refiled 1-28-93 as an
emergency; operative 12-29-92 (Register 93, No. 5). A Certificate of Compliance
must be transmitted to OAL 5-28-93 or emergency language will be repealed by
operation of law on the following day.
10. Repealer and new section
refiled 6-15-93 as an emergency; operative 4-2-93 pursuant to Health and Safety
Code 50199.17 (Register 93, No. 25). A Certificate of Compliance must be
transmitted to OAL by 7-31-93 or emergency language will be repealed by
operation of law on the following day.
11. Repealer and new section
refiled 10-6-93 as an emergency; operative 7-21-93 pursuant to Health and
Safety Code section
50199.17
(Register 93, No. 41). A Certificate of Compliance must be transmitted to OAL
by 11-18-93 or emergency language will be repealed by operation of law on the
following day.
12. Editorial correction of History 10 (Register 93,
No. 41).
13. Repealer and new section refiled 12-20-93 as an
emergency; operative 11-18-93 pursuant to Health and Safety Code section
50199.17
(Register 93, No. 52). A Certificate of Compliance must be transmitted to OAL
by 3-18-94 or emergency language will be repealed by operation of law on the
following day.
14. Repealer and new section refiled with amendments
5-3-94 as an emergency; operative 1-25-94 pursuant to Health and Safety Code
section
50199.17
(Register 94, No. 18). A Certificate of Compliance must be transmitted to OAL
by 5-25-94 or emergency language will be repealed by operation of law on the
following day.
15. Repealer and new section refiled 6-29-94 as an
emergency; operative 5-28-94 pursuant to Health and Safety Code section
50199.17
(Register 94, No. 26).
16. Repealer and new section refiled 10-24-94
as an emergency; operative 9-22-94 pursuant to Health and Safety Code section
50199.17
(Register 94, No. 43). A Certificate of Compliance must be transmitted to OAL
by 1-20-95 or emergency language will be repealed by operation of law on the
following day.
17. Repealer and new section refiled 1-17-95 as an
emergency, including amendment of subsection (e) and N ote ; operative 1-20-95
pursuant to Health and Safety Code section
50199.17
(Register 95, No. 3). A Certificate of Compliance must be transmitted to OAL by
5-22-95 or emergency language will be repealed by operation of law on the
following day.
18. Repealer and new section refiled 7-7-95 as an
emergency; operative 5-20-95 pursuant to Health and Safety Code section
50199.17
(Register 95, No. 27). A Certificate of Compliance must be transmitted to OAL
by 9-17-95 or emergency language will be repealed by operation of law on the
following day.
19. New section refiled 7-17-95 as an emergency;
operative 5-25-95 pursuant to Health and Safety Code section
50199.17
(Register 95, No. 29). A Certificate of Compliance must be transmitted to OAL
by 9-22-95 or emergency language will be repealed by operation of law on the
following day.
20. New section, including amendment of section and N
ote, refiled 3-18-96 as an emergency; operative 9-22-95 pursuant to Health and
Safety Code section
50199.17
(Register 96, No. 12). A Certificate of Compliance must be transmitted to OAL
by 1-20-96 or emergency language will be repealed by operation of law on the
following day.
21. Editorial correction inserting inadvertently
omitted last sentence of subsection (b) (Register 96, No. 13).
22.
New section refiled 3-18-96 as an emergency; operative 9-26-95 pursuant to
Health and Safety Code section
50199.17
(Register 96, No. 13). A Certificate of Compliance must be transmitted to OAL
by 1-24-96 or emergency language will be repealed by operation of law on the
following day.
23. New section refiled 3-18-96 as an emergency;
operative 10-30-95 pursuant to Health and Safety Code section
50199.17
(Register 96, No. 14). A Certificate of Compliance must be transmitted to OAL
by 2-27-96 or emergency language will be repealed by operation of law on the
following day.
24. Repealer and new section filed 8-19-97; operative
2-18-97 pursuant to Health and Safety Code section
50199.17
(Register 97, No. 34).
25. Emergency amendment effective pursuant
to Health and Safety Code section
50199.17
upon adoption by the Committee on February 16, 2001, filed with the Secretary
of State on March 5, 2001 (Register 2001, No. 10). Editor's Note: On December
20, 2000, the Committee adopted and made effective an emergency amendment to an
earlier version of this regulation; this amendment was superseded by the
February 16, 2001 amendment. The December 20, 2000 amendment was filed with the
Secretary of State on March 5, 2001; it was not printed in the California Code
of Regulations.
26. Emergency readoption without change filed
11-19-2001 of an action most recently filed 3-5-2001; operative 9-17-2001
pursuant to Health and Safety Code section
50199.17
(Register 2001, No. 47).
27. Emergency adoption effective pursuant
to Health and Safety Code section
50199.17
upon adoption by the Committee on March 19, 2003, filed with the Secretary of
State on 5-8-2003 (Register 2003, No. 19). Editor's Note: These March 19, 2003
emergency regulations supersede prior emergency regulations adopted and made
effective by the Committee on January 29, 2003. The January 29 emergency
regulations were filed with the Secretary of State on May 8, 2003, but were
never printed in the California Code of Regulations.
28. Emergency
adoption effective pursuant to Health and Safety Code section
50199.17
upon adoption by the Committee on February 18, 2004, filed with the Secretary
of State on 4-26-2004. These February 18, 2004 emergency regulations supersede
prior emergency regulations (Register 2004, No. 18).
29. Emergency
adoption effective pursuant to Health and Safety Code section
50199.17
upon adoption by the Committee on June 16, 2004, filed with the Secretary of
State on 7-19-2004. These June 16, 2004 emergency regulations supersede prior
emergency regulations (Register 2004, No. 30).
30. Emergency
adoption effective pursuant to Health and Safety Code section
50199.17
upon adoption by the Committee on October 5, 2004, filed with the Secretary of
State on 12-16-2004. These October 5, 2004 emergency regulations supersede
prior emergency regulations (Register 2004, No. 51).
31. Emergency
adoption effective pursuant to Health and Safety Code section
50199.17
upon adoption by the Committee on February 16, 2005, filed with the Secretary
of State on 4-4-2005. These February 16, 2005 emergency regulations supersede
prior emergency regulations (Register 2005, No. 14).
32. Emergency
readoption of action adopted by the Committee 2-16-2005 and filed with the
Secretary of State 4-4-2005; refiled 11-1-2005; readopted by the Committee and
effective 9-28-2005 pursuant to Health and Safety Code section
50199.17
(Register 2005, No. 44).
33. Emergency adoption filed 3-23-2006;
conclusively presumed to be an emergency and effective upon adoption by the
Committee on 1-18-2006 pursuant to Health and Safety Code section
50199.17(c) and
(d). This filing supercedes prior emergency
regulations and is exempt from the Administrative Procedure Act except as
provided in Health and Safety Code section
50199.17(a) and
(b) (Register 2006, No. 12).
34.
New section replacing prior emergency adoption filed 7-22-2010; operative
2-17-2010. Submitted to OAL for printing only pursuant to Health and Safety
Code section
50199.17
(Register 2010, No. 30).
35. Amendment of subsections (b) and
(b)(2) filed 4-18-2011; operative date of the amendments is immediately upon
adoption by the committee pursuant to Health and Safety Code section
50199.17(c)
(Register 2011, No. 16).
36. Amendment of subsections (b)-(b)(2)
filed 3-28-2014; operative upon adoption by the California Tax Credit
Allocation Committee on 1-29-2014 pursuant to Health and Safety Code section
50199.77(c).
Submitted to OAL for printing only (Register 2014, No. 13).
37.
Amendment of subsection (b), new subsection (b)(1), redesignation of former
subsections (b)(1)-(2) as subsections (b)(1)(A)-(B), new subsections (b)(2)-(c)
and subsection relettering filed 12-28-2015; operative upon adoption by the Tax
Credit Allocation Committee on 10/21/2015 pursuant to Health and Safety Code
section
50199.17(c).
Submitted to OAL for filing and printing only pursuant to Health and Safety
Code section
50199.17
(Register
2016, No. 1).
38. Amendment of subsection
(b)(2)(B)(ii) and (b)(2)(B)(iv), repealer of subsection (b)(2)(C), amendment of
subsection (b)(4), new subsection (b)(4)(A), subsection relettering, new
subsections (b)(4)(B)(i)-(iv) and amendment of newly designated subsection
(b)(4)(D) filed 2-9-2017; operative upon adoption by the Tax Credit Allocation
Committee on 12/14/2016 pursuant to Health and Safety Code
section
50199.17(c).
Submitted to OAL for filing and printing only pursuant to Health and Safety
Code section
50199.17(c)
(Register
2017, No. 6).
39. Amendment of subsection (b)(1), new
subsection (b)(1)(C), amendment of subsection (b)(2), new subsection (b)(5),
amendment of subsection (d) and new subsection (e) filed
2/22/2018; operative
upon adoption by the Tax Credit Allocation Committee on 12-13-2017 pursuant to
Health and Safety Code section
50199.17(c).
Submitted to OAL for filing and printing only pursuant to Health and Safety
Code section
50199.17
(Register
2018, No. 8).
40. Amendment of subsection (b)(1)(B),
new subsections (b)(2)(6)-(8) and amendment of Note filed 2-26-2021; operative
upon adoption by the California Tax Credit Allocation Committee on 12-20-2020
pursuant to Health and Safety Code section
50199.17(c).
Submitted to OAL for filing and printing only pursuant to Health and Safety
Code section
50199.17
(Register
2021, No. 9).
41. Editorial correction establishing
correct subsection hierarchy and correcting HISTORY 40 (Register 2022, No. 18).
42. Amendment of subsection (b)(1), new subsections (b)(1)(D)-(E)
and amendment of subsection (b)(7) filed 5-20-2024; operative upon adoption by
the California Tax Credit Allocation Committee on
4/3/2024 pursuant
to Health and Safety Code section
50199.17(c).
Submitted to OAL for filing and printing only pursuant to Government Code
section
11343.8
(Register
2024, No. 21).
43. Amendment of subsections
(b)(1)(D)-(E), (b)(2)(B)(iii) and (b)(4)(A), redesignation of paragraph
following subsection (b)(2)(B)(v) as subsection (b)(2)(C), redesignation of
paragraphs following subsection (b)(4)(D) as subsections (b)(4)(E)-(F) and
amendment of newly designated subsections (b)(2)(C) and (b)(4)(E) filed
2-3-2025; operative upon adoption by the California Tax Credit Allocation
Committee on 12/11/2024 pursuant to Health and Safety Code
section 50199.17(c). Submitted to OAL for filing and printing only pursuant to
Health and Safety Code section 50199.17 (Register
2025, No. 6).