HOTMA: Policy Impact and Analysis Workshop-Handout Slides

Handout Slides - HOTMA Policy Impact

Pdf Summary

The Housing Opportunity Through Modernization Act of 2016 (HOTMA) was signed into law to modernize and improve various housing policies managed by the U.S. Department of Housing and Urban Development (HUD). This document outlines the impacts, implementations, and significant rule changes under HOTMA, effective between January 1, 2024, and January 1, 2025.<br /><br />Key Features of HOTMA:<br />1. **Policy Changes**:<br />   - Public Housing Authorities (PHAs) and Multi-Family Housing (MFH) programs are required to comply with new regulations, reflecting changes in housing choice vouchers, project-based vouchers, and public housing management.<br />   - PHAs must update their plans to comply with HOTMA's requirements, adjusting for streamlined processes.<br />   <br />2. **Income and Assets**:<br />   - The introduction of new guidelines for income verification and exclusion, emphasizing the use of federal means-tested programs to streamline income calculation.<br />   - Annual income recalculation involves prior year's income; however, interim adjustments are permissible with noted income variations of 10% or more.<br /><br />3. **Asset Limitations**:<br />   - Asset caps are set at $100,000, adjusted for inflation, impacting eligibility criteria. Self-certifications of net family assets are permissible under specific conditions.<br /><br />4. **Interim Re-examinations**:<br />   - This includes standards for processing income changes in interim re-exams and ensures PHAs apply these rules accurately for all families in public housing programs.<br /><br />5. **Compliance and Technical Updates**:<br />   - Adoption of streamlined verification systems like EIV and a focus on accurate family size reporting.<br />   - Technical corrections in policy language have been applied to eliminate outdated references and to align all guidelines under common terminology, confirmed through federal registers in 2024.<br /><br />6. **Programmatic Changes**:<br />   - Small Area Fair Market Rents (SAFMR) now extend beyond metropolitan areas, and a new permissible range for payment standards is introduced.<br /><br />These changes exemplify HOTMA’s goals to refine housing regulations, ensuring housing assistance aligns more accurately with family needs and fiscal prudence while simplifying administrative burdens. PHAs are encouraged to engage with these updates proactively, ensuring clear policy dissemination and training for compliance.

Keywords

HOTMA

housing policies

HUD

Public Housing Authorities

income verification

asset limitations

interim re-examinations

compliance updates

Small Area Fair Market Rents

programmatic changes