BILL NUMBER: AB 97	CHAPTERED  10/10/99

	CHAPTER   893
	FILED WITH SECRETARY OF STATE   OCTOBER 10, 1999
	APPROVED BY GOVERNOR   OCTOBER 9, 1999
	PASSED THE ASSEMBLY   SEPTEMBER 10, 1999
	PASSED THE SENATE   SEPTEMBER 8, 1999
	AMENDED IN SENATE   SEPTEMBER 3, 1999
	AMENDED IN ASSEMBLY   FEBRUARY 25, 1999

INTRODUCED BY   Assembly Member Torlakson
   (Coauthors:  Assembly Members Calderon, Honda, Kuehl, Leach,
Romero, Steinberg, Wayne, and Wildman)
   (Coauthors:  Senators Alpert, Costa, and Figueroa)

                        DECEMBER 14, 1998

   An act to amend Section 50199.18 of the Health and Safety Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 97, Torlakson.  Taxation:  low-income housing.
    Existing law provides, until January 1, 2000, for procedures and
requirements for the allocation of state tax credit amounts among
low-income housing projects.
   This bill would provide that procedures and requirements for the
allocation of state tax credit amounts among low-income housing
projects are to remain in effect as long as related provisions of
federal law are in effect.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 50199.18 of the Health and Safety Code is
amended to read:
   50199.18.  This chapter shall remain in effect as long as Section
42 of the Internal Revenue Code, relating to low-income housing
credits, remains in effect.  However, repeal of this chapter shall
not invalidate or in any way affect the duration of any previously
allocated low-income tax credits.