CA AB10

Increases the aggregate state low-income housing tax credit by $500,000,000 annually beginning in 2020, with $25,000,000 per year allocated to farmworker housing projects.

Removes the requirement that the additional $500,000,000 allocation beginning in 2021 be contingent on Budget Act authorization and California Tax Credit Allocation Committee regulatory reforms.

Expands eligibility for enhanced tax credits to qualified low-income buildings that are at least 15 years old, serve very low or extremely low income households, and will undergo substantial rehabilitation.

Modifies the "applicable percentage" credit calculation for federally subsidized farmworker housing to provide 20 percent for the first three years and 15 percent for the fourth year of the credit period.

Takes effect immediately as a tax levy under Article IV of the California Constitution.