California Revenue and Taxation Code

§ 23610.5

RTC § 23610.5 Effective Jan 1, 2026Div. 2 · Part 11 · Ch. 3.5

Statute text

(a)(1) There shall be allowed as a credit against the “tax,” defined in Section 23036, a state low-income housing tax credit in an amount equal to the amount determined in subdivision (c), computed in accordance with Section 42 of the Internal Revenue Code, relating to low-income housing credit, except as otherwise provided in this section.

(2)“Taxpayer,” for purposes of this section, means the sole owner in the case of a “C” corporation, the partners in the case of a partnership, and the shareholders in the case of an “S” corporation.

(3)“Housing sponsor,” for purposes of this section, means the sole owner in the case of a “C” corporation, the partnership in the case of a partnership, and the “S” corporation in the case of an “S” corporation.

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Legislative history

Amended by Stats. 2025, Ch. 492, Sec. 3. (AB 480) Effective January 1, 2026. Section conditionally inoperative pursuant to subd. (u).