The TRACS Industry Working Group recently began meeting again in anticipation of the upcoming TRACS Version 203A. Although this has been years in the making, the Housing Opportunity Through Modernization Act (HOTMA) Final Rule, published on February 14, 2023 requires Owner/Agents and TRACS to make necessary updates to all certifications effective January 1, 2024 or later.
There are still many details to be worked out, but the proposed begin date of TRACS 203A is October 1, 2023, with a proposed end date of 1/31/2024 for implementation. Please stay tuned, and in the meantime be sure that you are familiar with all of the changes that will need to be made in on-site processes and within your software systems.
