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HUD Publishes Notice with Guidance for Implementation of HOTMA Provisions

Monday, October 2, 2023 - 11:30AM

The U.S. Department of Housing and Urban Development (HUD) last week published a notice providing guidance to public housing authorities (PHAs) and multifamily housing owners on implementation of provisions of the Housing Opportunity Through Modernization Act of 2016 (HOTMA). Housing Notice 2023-10 includes implementation guidance for all programs except Section 104 asset limitation–including Section 8 and Section 202. The guidance requires multifamily housing owners to update their tenant section plans and enterprise income verification (EIV) policies and procedures by March 31, 2024. There is further guidance on a variety of issues, including a list of dates and tasks for owners to be in compliance through HOTMA.

The Novogradac 2023 Housing Tax Credit Conference, Nov. 30-Dec. 1 in Las Vegas, will provide insight into various requirements for affordable housing.

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