The California Tax Credit Allocation Committee (TCAC) administers two low-income housing tax credit programs, a federal tax credit and a state tax credit. Both programs encourage private investment in affordable rental housing for households meeting certain income requirements. The program enables housing developers to raise equity through the sale of tax benefits to tax credit investors. The state tax credit is only available to a housing project concurrently receiving an allocation of federal tax credits unless the project is a development of permanent housing for farmworkers. For more information see our Program Overview.