2017 Competitive Tax Credit Applications
Applicants to the Low Income Housing Tax Credit Program must submit all of the application materials electronically on a flash drive, CD or DVD. Applicants must submit one original and one backup copy of the flash drive, CD or DVD. For more detail, please refer to the instructions located in the Microsoft Excel portion of the application. The California Tax Credit Allocation Committee (TCAC) will not accept submissions of application documents in the form of hard copy binders, by email or over the internet.
TCAC will continue to require that any hand delivered applications be submitted to the Sacramento headquarters office by 5:00 p.m. on the application due date. Delivering an application to an express mail carrier for overnight delivery by the application deadline will also constitute a valid submittal. TCAC understands that this means many applications will arrive in the Sacramento headquarters the day following the deadline. But, if the mailed application’s delivery paperwork clearly demonstrates that the application (a) left the applicant’s possession by 5:00 p.m. on the application due date, and (b) was sent overnight delivery by an express mail provider, TCAC will accept the application.
Example
2017 applications will be due by 5:00 p.m. Wednesday, March 1, 2017. Applications submitted to a local express mail carrier by that deadline for overnight delivery would be honored by TCAC, even though the application would arrive at the Sacramento office the morning of Thursday, March 2, 2017. TCAC staff would confirm that the application package had been delivered to the express mail carrier in time by reviewing the paperwork on the mailing.
Problems or Questions
Should problems arise, TCAC will contact the applicant with any questions regarding the express mail service submittal time and date. Where the submittal time is unclear from the package documentation, the applicant will have to produce an online delivery service log or other proof of timely submittal. TCAC will not hold the applicant responsible for any performance failures by the express mail delivery service. However, in such cases TCAC will seek clear evidence that the applicant performed in good faith, and met conditions (a) and (b) above.
Conclusion
For application submittal purposes, the alternative delivery option brings TCAC’s Sacramento office to your nearest express mail service location. Those who still wish to experience the catharsis of hand carrying their electronic applications into the Sacramento office will continue to be welcomed provided they are received by TCAC no later than 5:00 p.m. on the application due date. If you have any questions, please contact your Development Section regional analyst at: http://www.treasurer.ca.gov/ctcac/assignments.asp