Quick Tips | HOTMA Income Threshold for HUD Interim Certifications
Jun 21, 2023
Facts | Before HOTMA, households with HUD rental assistance had to report income increases of $200 or more a month, and an interim recertification was to be conducted. With HOTMA, the threshold that requires an interim will be a change of 10% or more of adjusted income. Even if the threshold is crossed, if the change occurs within 3 months of the household's next annual certification, the interim is not required. This is anticipated to significantly decrease the number of interim certifications necessary.
Implication | Rather than a straightforward amount ($200), the new rule will require a slightly more complicated calculation that will involve determining a percentage of adjusted income.
Resource | HUD has created a fillable PDF that will take into consideration adjusted household income as well as the time during the certification year that a change of income occurs. This can be used by owners/agents and tenants. The resource and instructions can be found HERE.
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