California Increases Senior Housing Allocation In The Low Income Housing Tax Credit

California is updating its low-income housing tax credit allocations to increase the share of these allocations for senior housing. The goal is to encourage the development of more units. On December 5, 2024, the California Tax Credit Allocation Committee (TCAC) updated the share from the previous 15% to 20% for 2025.

TCAC regulations govern low-income housing tax credit allocations for various housing types for specific populations. The program provides financing for the construction, rehabilitation, and preservation of affordable rental housing. The housing types include older adults, large families, special needs, single-room occupancy, at-risk, rural acquisition, and . . .