CDLAC allocates state ceiling to bond issuers that will issue tax-exempt private activity bonds (PABs) to finance affordable housing developments. Projects that receive an award of bond authority have the right to apply for non-competitive 4% tax credits, administered by the California Tax Credit Allocation Committee. Prior to July 1, 2025, at least 50% of a project’s costs needed to be financed with PABs subject to the issuer’s volume cap in order to receive federal 4% LIHTCs. In July 2025, H.R. 1 was signed into law, which, among other things, permanently reduced the bond financing threshold from 50% to 25%. Practically speaking, this change allows California to finance nearly double the amount of affordable housing with federal 4% LIHTCs using the same amount of PABs.
Applicants to the QRRP Program must be submitted through the CDLAC Online Application Portal by 5 p.m. on the application due date. CDLAC will not accept submissions of application documents in the form of hard copy, by email or via USB.
Online payments are preferable through the CDLAC Payment Portal. If mailing checks for application fees, include an enclosure that clearly identifies the project name associated with the payment. CDLAC’s Sacramento office must receive the fees, whether hand delivered or submitted via mail, no later than 5 p.m. on the application due date.
Round 1 Applications due by 5 p.m. on February 3, 2026
Round 2 Applications due by 5 p.m. on May 19, 2026
Round 3 Applications due by 5 p.m. on September 8, 2026