HUD Delays Income Limits Release
The U.S. Department of Housing and Urban Development (HUD) today announced that the publication of its fiscal year (FY) 2015 income limits will be delayed and will occur following the publication of 2015 poverty guidelines issued by the Department of Health and Human Services (HHS). The income limits are used to determine income eligibility for HUD’s assisted housing programs, including public housing, Section 8, Section 202 and Section 811. Instead of being issued this week as originally expected, HUD anticipates that the FY 2015 income limits will be published in February 2015.
The delay is related to a change in the definition of an “extremely low-income” household, which is mainly used for setting admissions targets in the Housing Choice Voucher program. The change was made by the 2014 Consolidated Appropriations Act and extremely low-income household is now defined as the greater of the Department of Health and Human Services (HHS) poverty guidelines or 30 percent of area median income (AMI).
Tune into the Dec. 9 episode of the Tax Credit Tuesday podcast to learn more.