Quiz | Rural Development and HOTMA | Aug 2024 Update
Aug 28, 2024
Rural Development has now issued a second piece of guidance on how HOTMA will affect RD properties. An article on this can be found HERE. This quiz focuses on issues likely to have the biggest impact on the operation of RD affordable housing.
Which of the following HOTMA provisions apply to RD properties?
A. De minimus errors.
B. Current balance used for checking.
C. Phase-in of the health and medical expense deductions.
D. Exclusion of non-necessary person property that does not exceed $50,000, as adjusted.
2. RD is adopting HOTMA's requirement to conduct an interim when adjusted household income changes by 10%.
True or False
3. Unborn children will not be counted when determining income limits for RD use.
True or False
4. Which of the following portions of HOTMA at 24 CFR do not apply to RD?
A. 5.609 (a) Income inclusions
B. 5.609 (b) Income exclusions
C. 5.609 (c) Interim thresholds and other rules
D. 5.611 Adjusted income
5. RD will not allow the every-three-year streamlined income verification process.
True or False
HOTMA, AIT, NSPIRE, Oh My! So many hot topics this year.
There is a very good chance that the topic of this post is covered in an online on-demand course at Costello University.
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