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$500 Million State Credit for 4% Credit New Construction Multifamily Housing is sponsored by California Tax Credit Allocation Committee (CTCAC). CTCAC is allocating up to $500 million in state tax credits for 4% credit new construction multifamily housing projects, with up to $200 million set aside for projects financed by the California Housing Finance Agency’s (CalHFA) Mixed-Income Program.
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2025 Application Information: $500 Million State Credit for 4% Credit New Construction Multifamily Housing | State of California Office of the State Treasurer California Tax Credit Allocation Committee 2025 Application Information: $500 Million State Credit for 4% Credit New Construction Multifamily Housing For 2025, application submittal and allocation of the $500 million in state tax credits will utilize the 4% credit calendar year application cycles.
See the 2025 Program Schedule and Deadlines. State tax credit applications for projects financed by the California Housing Finance Agency’s (CalHFA) Mixed-Income Program will be accepted in the 2nd 4% funding round, subject to request by CalHFA, until the amount up to $100,000,000 is exhausted or reduced pursuant to CTCAC regulation sections 10305(h) and 10326(b)(2).
The 2025 CDLAC/CTCAC Joint Application is available on the website and is required by CTCAC for applications requesting tax credits and tax-exempt bond financing. As a reminder, a CTCAC allocation is contingent upon receipt of a CDLAC allocation, pursuant to CTCAC regulation section 10326(i) and (j). Following the application deadline, CDLAC will publish an applicant list that includes application point and tie breaker self-scores.
CDLAC will review and score the highest-ranking applications. Point reductions are subject to the CDLAC appeal process (see CDLAC Regulation Section 5036 for more information). Any projects not meeting CDLAC application and program requirements will not receive a federal or state tax credit allocation.
Projects awarded these state tax credits shall submit the documents required in CTCAC Regulation section 10317(j)(2) no later than the CDLAC bond issuance deadline. Projects receiving a bond allocation in 2024 are not eligible to apply for state tax credits allocated in 2025.
In order to ensure fair access to these state tax credits, the state credit allocation to any one developer or its affiliates in the first funding round is limited to no more than 33%. See Application Information for general application information.
According to the current listing, eligibility includes: Nonprofit and for-profit developers, public agencies, and tribal entities. Confirm the full requirements in the official notice before applying.
The current listing shows up to $500 million. Verify award ceilings, matching requirements, and allowable costs in the official notice.
$500 Million State Credit for 4% Credit New Construction Multifamily Housing is funded by California Tax Credit Allocation Committee (CTCAC). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
4% Low-Income Housing Tax Credits with State Tax Credits is a grant from the California Tax Credit Allocation Committee (CTCAC) that funds new construction of multifamily affordable housing by pairing federal 4% Low-Income Housing Tax Credits with a $500 million state tax credit allocation. This 2025 program prioritizes projects financed through CalHFA's Mixed-Income Program and requires a CDLAC bond allocation. Single developers or affiliates are capped at 33% of the first-round allocation, and recipients of 2024 bonds are ineligible for this round. Eligible applicants are affordable housing developers with qualifying new construction multifamily projects. The total state credit available is $500 million, distributed through competitive rounds with application deadlines published on the CTCAC website.
Low-Income Housing Tax Credit (LIHTC) Program (State and Federal) is sponsored by California Tax Credit Allocation Committee (CTCAC). The California Tax Credit Allocation Committee (CTCAC) administers both the federal and state Low-Income Housing Tax Credit Programs. These programs encourage private investment in affordable rental housing for lower-income Californians by allocating tax credits to developers.
9% Federal Low-Income Housing Tax Credits for Affordable Rental Housing is sponsored by California Tax Credit Allocation Committee (CTCAC). This program provides federal tax credits for new construction and rehabilitation projects that will remain affordable for a minimum of 55 years. These competitive credits incentivize private investment in affordable rental housing for low-income households.
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