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HUD POSTS 2012 FMRS, SETS 12/1 INCOME LIMIT RELEASE DATE

Friday, September 30, 2011 - 1:15AM

The U.S. Department of Housing and Urban Development (HUD) today released its final fair market rents (FMRs) for fiscal year (FY) 2012. The FY 2012 FMRs take effect October 1. HUD uses FMRs to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts and to determine initial rents for housing assistance payments (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy (SRO) program. The notice also set December 1 as the formal publication date for income limits, beginning with FY 2012’s income limits. For more information about the FMRs and the new release date for annual income limit data, tune in to the October 4 Tax Credit Tuesday podcast.

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