HOTMA: Policy Impact and Analysis Workshop-Participant Guide - HOTMA- Policy Impact and Analysis Workshop

Participant Guide - HOTMA- Policy Impact and Analysis Workshop

Pdf Summary

The Housing Opportunity Through Modernization Act of 2016 (HOTMA) introduces significant changes to the United States Housing Act of 1937, impacting Public Housing Agencies (PHAs) and participants. Key amendments include sections on income and asset regulations. Effective January 1, 2024, with a compliance deadline of January 1, 2025, PHAs and housing owners must adjust policies on verifying income, defining assets, handling medical and childcare expenses, and addressing family eligibility.<br /><br />Under HOTMA, income definitions are refined, and all deductions related to adjusted income must be updated. Income reexaminations will rely on the Enterprise Income Verification (EIV) System. HOTMA sets income exclusions and mandates routine checks on family composition and finances. Asset limitations are established, with $100,000 as a threshold, subject to annual inflation adjustments. Excluded from family asset calculations are non-necessary personal properties and assets without legal authority to sell. Self-certification of assets is introduced, streamlining administrative processes.<br /><br />Regulatory changes also modify childcare and medical expense verifications, allowing for hardship exemptions under specific conditions. Additionally, zero-income families face less frequent reviews, with PHAs encouraged to update related policies accordingly.<br /><br />The document outlines options for PHAs regarding the verification of tenant identities, use of social security numbers, and interim reexamination policies. Rent adjustments due to income changes will be calculated based on clearly outlined thresholds, ensuring tenants receive timely notifications.<br /><br />PHAs are advised to employ safe harbor verifications and maintain clear communication about policy changes. The emphasis is on compliance with federal nondiscrimination laws, privacy rules, and the inclusion of all necessary verifications, enhancing operational transparency and tenant understanding. HUD provides resources for implementation and training, ensuring housing programs adhere to new legal standards.

Keywords

Housing Opportunity Through Modernization Act

HOTMA

Public Housing Agencies

income regulations

asset limitations

Enterprise Income Verification System

family eligibility

self-certification

hardship exemptions

tenant identity verification