The California Debt Limit Allocation Committee (CDLAC) is a three-member body comprised of the State Treasurer as Chair, the Governor, and the State Controller. CDLAC was created in 1985 by Governor proclamation in response to the 1984 Tax Reform Act, which imposed a ceiling on the dollar amount of tax-exempt private activity bonds that may be issued in a state. This ceiling is based upon an IRS Inflation Adjustment (currently $135) and IRS Calendar Year Resident Population Estimates.
Allocation Distribution
The Committee conducts its business in a public meeting forum. In accordance with the CDLAC Procedures, the Committee meets as soon as practicable at the beginning of each calendar year, and before any Applications are considered, to determines and announce the establishment of either an open application process or an allocation round process or both. At that meeting, the Committee also establishes and announces the amounts the Committee expects to be apportioned to each of the State Ceiling Pools and the amounts that are expected to be available in each of the allocation rounds for the program year. In establishing the amounts for the pools, the Committee may consider the past year's results and legislative priorities.
The Committee continues to prioritize housing for lower income families and individuals.