CA AB2140

Redefines "farmworker housing" to mean housing in which at least 50% of units are available to and occupied by farmworkers and their households, instead of requiring 100% occupancy by farmworkers.

Authorizes the California Tax Credit Allocation Committee to allocate farmworker housing tax credits even when taxpayers receive federal credits for buildings in designated difficult development areas or qualified census tracts.

Modifies the "applicable percentage" for farmworker housing that is federally subsidized to provide 20% of qualified basis for the first three years and 15% for the fourth year under the low-income housing tax credit program.

Allocates $500,000 per calendar year in state tax credits for farmworker housing projects, in addition to the $70 million annual allocation for general low-income housing projects.

Requires a 2/3 vote for passage as the bill increases certain taxes under California Constitution Article XIII A.