California AB2270 modifies the state low-income housing tax credit allocation, prioritizing farmworker housing and setting aside credits for rural.

California AB2270 amends the state low-income housing tax credit allocation process. It prioritizes farmworker housing by setting aside credits and adjusting scoring systems. The bill also allocates credits for rural areas, ensuring a portion of the credits remains available for these projects. The California Tax Credit Allocation Committee is tasked with developing new allocation methodologies to increase production and contain costs. The bill modifies definitions and percentages for credit allocation, affecting both new and existing buildings.

California AB2270 modifies the state low-income housing tax credit allocation, prioritizing farmworker housing and setting aside credits for rural.

California AB2270 amends the state low-income housing tax credit allocation process. It prioritizes farmworker housing by setting aside credits and adjusting scoring systems. The bill also allocates credits for rural areas, ensuring a portion of the credits remains available for these projects. The California Tax Credit Allocation Committee is tasked with developing new allocation methodologies to increase production and contain costs. The bill modifies definitions and percentages for credit allocation, affecting both new and existing buildings.