HUD’s Office of Multifamily Housing Programs (Multifamily) distributed an email on September 24, informing the public that Housing Notice H 2024-09 extends to July 1, 2025, the date by which owners of properties assisted with Section 8 Project-Based Rental Assistance (PBRA) must comply with new household income and asset limit requirements. A final rule implementing Section 102 (regarding income limits) and Section 104 (regarding asset limits) of the “Housing Opportunity Through Modernization Act of 2016” (HOTMA) required compliance with those new provisions by January 1, 2025 (see Memo, 2/27/23). Multifamily plans to release a series of Frequently Asked Questions (FAQs) responding to stakeholder questions about the new provisions.
Similarly, HUD’s Office of Public and Indian Housing (PIH) informed public housing agency (PHA) directors on September 18 that compliance with the HOTMA household income and asset limits for public housing and Housing Choice Voucher (HCV) residents was postponed, but PIH 23) did not provide a future date for PHAs to comply (see Memo, 9/23).
Read the Multifamily email at: https://tinyurl.com/yy6vrbep
Read Housing Notice H 2024-09 at: https://tinyurl.com/a5re8h7p
More information about Multifamily Housing and HOTMA is on page 4-86 of NLIHC’s 2024 Advocates’ Guide.