State Tax Credits – Request Issuance
Request issuance pursuant to AB 346
In 2023, the Governor signed into law Assembly Bill 346 (AB 346) allowing taxpayers to claim the credit commencing in the year the building is placed in service and the federal credit period commences in advance of CTCAC’s final placed-in-service review, provided that the housing sponsor has filed a taxpayer certification with the California Tax Credit Allocation Committee (CTCAC) and delivered a copy to the taxpayer pursuant to Sections 12206(b)(2)(C), 17058(b)(2)(C) and 23610.5(b)(2)(C) of the Revenue and Taxation Code. In the event CTCAC issues a certification that is inconsistent with the taxpayer certification, the taxpayer shall amend any previously filed tax returns as needed to reflect the credit amount certified by CTCAC. The changes made pursuant to AB 346 applies to taxable years beginning on or after January 1, 2023.
Please direct all requests for the issuance of State Credits tax forms in advance of CTCAC’s final placed-in-service review to Andrew Yu at Andrew.Yu@treasurer.ca.gov along with the following documents:
- Taxpayer certification; certified statement from the certified public accountant (CPA) of the housing sponsor. The taxpayer certification shall contain the following:
- Project Name
- CTCAC Project Number (CA-XX-XXX)
- Total amount of the credit the project is eligible for.
- For each building, the taxable year the building is placed in service.
- For each building, the taxable year in which the federal credit period for the building has commenced.
- Contact information and mailing address for the person/entity receiving the issued 3521A tax forms.
- Signed by the independent CPA, identified by name (and accounting firm if applicable)
- Taxpayer completed 3521A Forms (Submit in Word Format)
- IRS documentation for Tax Identification Number (TIN) entered on 3521A form; and
- Completed and signed Notice of Sale form, if certificated state credits have been sold: https://www.treasurer.ca.gov/ctcac/state-credit.asp
Request Issuance with Placed in Service Package:
Include completed Form 3521A in Placed in Service (PIS) Package. Forms shall be issued after PIS review completed and issued in conjunction with IRS Form(s) 8609.
If requesting issuance before PIS review completed, follow instructions above for AB 346.
Form 3521A (Submit in Word Document Format)
Attachment to Form 3521A – Additional Rows (Submit in Word Document Format)