Quiz | HOTMA Part I
Apr 26, 2023
Have you heard about HOTMA? It is huge news for the affordable housing industry. This quiz will explore half a dozen possible common myths that have already started growing about what HOTMA actually says. Are the below true or false?
1. The dependent deduction when calculating adjusted income will be $525 starting in 2024.
TRUE or FALSE
2. HOTMA does not require owners to deny occupancy to households with assets that exceed $100,000.
TRUE or FALSE
3. Foster children and adults will no longer qualify to live in HUD housing.
TRUE or FALSE
4. Because it relates to adjusted income, the new dependent deduction will never affect income determinations for HOME, NHTF, or LIHTC properties.
TRUE or FALSE
5. LIHTC income determinations of gross household income may now be used for calculating income and rent for HUD programs.
TRUE or FALSE
6. If a HOME or NHTF project has project-based federal or state rental subsidies, the owner and PJ must accept the PBRA determination of household income for HOME or NHTF purposes.
TRUE or FALSE
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