Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011

Tax on Insurers Law

Chapter 3. All Insurance Other Than Ocean Marine.

Article 1. General*

Section 12205

12205. Legislative intent. It is the intent of the Legislature that the amount of the state low-income housing tax credit allocated to a project pursuant to Section 12206 shall not exceed an amount in addition to the federal tax credit that is necessary for the financial feasibility of the project and its viability throughout the extended use period.

History.—Added by Stats. 1993, Ch. 1222, in effect October 11, 1993.

* The title of Article 1. Tax Base, commencing with former Section 12251 was amended to its present form by Stats. 1961, p. 1981, operative January 1, 1962.