SB16 (Low Income Housing Tax Credits) Receives New Support From Banks

(as reported by Housing CA)

The California Bankers Association came out in support of SB 16 (Lowenthal) recently, which should help convince moderate and conservative legislators of the bill's value. SB 16 makes Low Income Housing Tax Credits awarded between July 1, 2008, and December 30, 2010, refundable for either the investor or awardees.

The bill's ever-elusive next hearing may be March 16, 2009, in Senate Appropriations Committee. For information, contact: Julie Snyder at Housing CA at (916) 447.0503 x102 or jsnyder@housingca.org.