CA AB2817

Increases aggregate annual low-income housing tax credit allocation by $300,000,000 for calendar years beginning 2017, with annual adjustments based on Consumer Price Index.

Increases farmworker housing project allocation from $500,000 to $25,000,000 per calendar year starting 2017.

Modifies "applicable percentage" definition for qualified low-income buildings to provide enhanced credits for buildings at least 15 years old serving very low-income or extremely low-income households at 45 percent or less of area median income.

Reduces state credit period from 10 taxable years to 4 taxable years, and extends compliance period to 30 consecutive taxable years.

Takes effect immediately as a tax levy.