(Gipson D) Income taxes: credits: qualified developer: affordable housing.
Summary: The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2019, and before January 1, 2024, in an amount, determined by the California Tax Credit Allocation Committee, that is paid or incurred by a taxpayer to a qualified developer for the development of a qualified project, as defined, not to exceed an aggregate amount of $5,000,000 per year.