HOTMA: Live In-Person Training

Thursday, September 21, 2023

Hilton Garden Inn - Houston, TX

8:30 am - 4:30 pm CST | Gwen Volk

$199 AHMA Members | $249 Non-Members

REGISTRATION DEADLINE September 20

Register Online

Although HUD has extended the HOTMA implementation deadline for Public and Indian Housing, the deadline has not been extended for Multifamily. The implementation deadline for Multifamily continues to be January 1, 2024.

Did you know there are still a number of items that can be implemented effective January 1, 2024, without any change to your software, if HUD delays the software implementation deadline:

• HOTMA defines new income inclusions and exclusions
• HOTMA defines a new method to determine income at AR
• HOTMA defines new treatment of student financial aid (for all students in the household)
• HOTMA has new Asset Restrictions
• HOTMA defines new treatment of assets including new inclusions and exclusions.
• HOTMA defines new ways for handling income and assets for fosters

These are just a few of the many items HOTMA changes in the way income and rent is calculated. Owners and agents must develop systems and forms to comply with these new changes.

This is the most sweeping change to how we determine eligibility and calculate income and rent in the last 40 years. There will be new forms 50059, 9834, 9887, and HUD Model Leases and new definitions for Day Laborer, Independent Contractor, Real Property, and Seasonal Worker, revised definitions of Dependent, Earned Income, Family, Health & Medical Care Expenses, Net Family Assets, and Unearned Income. The new regulations allow for self-certification of assets under $50,000 (not $5,000) and changes in what is included and excluded from income (must be verified at move in and re-verified every 4th year). The percentage of annual income that is deducted before taking medical and disability expenses will increase and has to be phased in to mitigate the impact on residents. Elderly/disabled families and dependent deductions will change annually based on an inflationary adjustment. 

Some rules apply only to Section 8 PBRA including making families with more than $100,000 in assets or who own another place to live ineligible for both admission to and continued occupancy in assisted housing. The requirement to do interims both for increases and decreases will be based on a % of change not on a specific dollar amount or whenever a tenant has any amount of decrease.  And there’s more! Learn how each change will work and what you need to do to implement them and be in compliance.

Areas Covered:

• Asset limitations, verification, and imputing income
• Income and Asset Inclusions/Exclusions
• Medical Expense/Allowance
• Dependent Allowance
• Elderly/Disabled Family Deduction
• Interim Recertification triggers
• Hardship Exemptions and Phase-ins
• Form changes
• Use of EIV
• Students will identify which rules apply to which programs
• Students will learn how the deadline could affect their current work

Who Should Attend:

• Owners
• Agents
• Managers
• Compliance Specialists for HUD Multifamily Projects

What Programs Are Affected:

• Section 8 Project-Based Rental Assistance (PBRA),
• Section 202/8
• Section 202/811 Project Rental Assistance Contract (PRAC)
• Section 202/162 Project Assistance Contract (PAC)
• Section 811 Project Rental Assistance (PRA)
• Senior Preservation Rental Assistance Contract (SPRAC)