California Code of Regulations › Title 4 - Business Regulations › Division 17 - California Tax Credit Allocation Committee Regulations Implementing the Federal and State Low-Income Housing Tax Credit Laws › Chapter 1 - Federal and State Low-Income Housing Tax Credit › Section 10322 - Application Requirements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Separate Application. Determination of completeness, compliance with all Basic and Additional Thresholds, and the scoring of the application shall be based entirely on the documents contained in the application as of the final filing deadline. A separate application is required for each project.
(b) Application forms. Applications shall be submitted on forms provided by the Committee. Applicants shall submit the most current Committee forms and supplementary materials in a manner, format, and number prescribed by the Committee.
(c) Late application. Applications received after an application-filing deadline shall not be accepted.
(d) Incomplete application. Determination of completeness, compliance with all Basic and Additional Thresholds, the scoring of the application, and any application submission requirements pursuant to these regulations and the application form shall be based on the documents contained in the application as of the final filing deadline. Application omissions may be accepted after the application-filing deadline pursuant to Section 10322(e) at the sole discretion of the Executive Director, if determined that the deficiency is an application omission of either a document existing as of the application-filing deadline, or a document certifying to a condition existing at the time of the application-filing deadline. Applications not meeting these requirements shall be considered incomplete, and shall be disqualified from receiving a reservation of Tax Credits during the cycle in which the application was determined incomplete. An applicant shall be notified by the Committee should its application be deemed incomplete and the application will not be scored.
(e) Complete application. No additional documents pertaining to: the Basic or Additional Threshold Requirements; scoring categories; and any application submission requirements pursuant to these regulations and the application form shall be accepted after the application-filing deadline unless the Executive Director, at his or her sole discretion, determines that the deficiency is an application omission of either a document existing as of the application-filing deadline, or a document certifying to a condition existing at the time of the application-filing deadline. In such cases, applicants shall be given up to five (5) business days from the date of receipt of staff notification, to submit said documents to complete the application. For application omissions, the Executive Director may request additional clarifying information from third party sources, such as local government entities, or the applicant, but this is entirely at the Executive Director's discretion. Upon the Executive Director's request, the information sources shall be given up to five (5) business days, from the date of receipt of staff notification, to submit said documents to clarify the application. The third-party sources shall certify that all evidentiary documents deemed to be missing from the application had been executed, and were in the third-party source's possession, on or prior to, the application-filing deadline.
If required documents are not submitted within the time provided, the application shall be considered incomplete and no appeal will be entertained.
(f) Application changes. Only the Committee may change an application as permitted by Sections 10317(d), 10325(c)(6)(B), and 10327(a). Any changes made by the Committee pursuant to those sections shall never increase the score or credit amount of the application as submitted, and may reduce the application's score and/or credit amount.
(g) Applications not fully evaluated. Incomplete applications or others not expected to receive a reservation of Tax Credits due to relatively low scores, may or may not be fully evaluated by the Committee.
(h) Standard application documents. The following documentation relevant to the proposed project is required to be submitted with all applications:
(1) Applicant's Statement. A completed and signed version of the CTCAC Applicant Statement signifying the responsibility of the applicant to:
(A) provide application related documentation to the Committee upon request;
(B) be familiar with and comply with Credit program statutes and regulations;
(C) hold the Committee and its employees harmless from program-related matters;
(D) acknowledge the potential for program modifications resulting from statutory or regulatory actions;
(E) acknowledge that Credit amounts reserved or allocated may be reduced in some cases when the terms and amounts of project sources and uses of funds are modified;
(F) agree to comply with laws outlawing discrimination;
(G) acknowledge that the Committee has recommended the applicant seek tax advice;
(H) acknowledge that the application will be evaluated according to Committee regulations, and that Credit is not an entitlement;
(I) acknowledge that continued compliance with program requirements is the responsibility of the applicant;
(J) acknowledge that information submitted to the Committee is subject to the Public Records Act;
(K) agree to enter with the Committee into a regulatory contract if Credit is allocated; and,
(L) acknowledge, under penalty of perjury, that all information provided to the Committee is true and correct, and that applicant has an affirmative duty to notify the Committee of changes causing information in the application or other submittals to become false.