California § 34377.4 - An authority may, in conjunction with the financing of multifamily rental housing
Full text of California Public Contract Code - PCC § 34377.4 — An authority may, in conjunction with the financing of multifamily rental housing, with citation guidance and answers to common questions.
§ 34377.4. An authority may, in conjunction with the financing of multifamily rental housing
An authority may, in conjunction with the financing of multifamily rental housing pursuant to this article, finance the acquisition of commercial property for lease, subject to all of the following conditions: (a) No more than 10 percent of the proceeds of any revenue bonds issued pursuant to this article may be used to acquire the commercial property for lease. (b) The commercial property acquired will be located on the same parcel or on a parcel adjacent to a multifamily rental housing development. (c) As a condition of the financing, any lease payments collected in excess of payments necessary for debt service, operating expenses and any required reserves related to such property, shall be used to reduce rents on units reserved for occupancy by lower income households and very low income households in a multifamily rental housing development.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 34377.4
What does Public Contract Code - PCC § 34377.4 cover?
Section 34377.4 ("An authority may, in conjunction with the financing of multifamily rental housing") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 34377.4?
A common citation format is "Public Contract Code - PCC § 34377.4" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 34377.4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.