HOTMA Draft Final Rule on Income Reviews, Income and Assets, and Asset Limits
HOTMA Draft Final Rule on Income Reviews, Income and Assets, and Asset Limits
HUD’s Office of Multifamily Housing Programs published a draft of the Housing Opportunity through Modernization Act of 2016 (HOTMA) final rule. HUD provided links to dedicated HOTMA websites for both program offices: Multifamily Housing and Public and Indian Housing (PIH).
In addition, MF Housing also included a one-pager (also attached) on the final rule and a preview version of the draft Final Rule (also attached).
Per HUD, this Final Rule covers Sections 102, 103, and 104 of HOTMA:.
- Section 102: Changes requirements related to income reviews for the Public Housing, Housing Choice Voucher (HCV), and Section 8 Project-Based Rental Assistance (PBRA) programs.
- Section 103: Modifies the continued occupancy standards of Public Housing residents (does not apply to Multifamily Housing programs).
- Section 104: Sets maximum asset limits for eligibility and continued assistance in the Public Housing, HCV, Section 8 PBRA programs.
NAHMA welcomes all member feedback and comments by February 28th .