[Replay] Avoid Costly Errors: Prepare for HOTMA | LIHTC Edition
The HUD HOTMA regulation will affect the LIHTC program very soon! This session will provide clear action steps to allow state agencies and owner/agents to manage HOTMA compliance and enter the HOTMA era with confidence!
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The Housing Opportunity Through Modernization Act (HOTMA) is the largest adjustment to HUD rules in many decades. It will affect most affordable housing programs, including LIHTC. Issues such as who is counted in a tenant household, the rules relating to verifications, and the items that should be counted or excluded for household income and asset calculations will all change. The HOME and NHTF programs will also change in ways that affect how they can be combined with LIHTC. This session will distill the portions of HOTMA that relate to LIHTC and provide concise action items to assist state housing/LIHTC agencies and owner/agents. Come prepared to learn about LIHTC/HOTMA compliance and enter the HOTMA era with confidence!
What You’ll Learn:
- Learn about HOTMA policy areas where state LIHTC agencies may differ to meet compliance by state.
- Become aware of the 28 income and 11 asset exclusions to accurately determine household incomes.
- Learn about HOTMA verification adjustments to keep paperwork in compliance.
- Missy Covington, HCCP – VP, Compliance, Raymond James Affordable Housing Investments
- Scott Michael Dunn, HCCP – CEO/Owner, Costello Compliance
CE Credit: NAHB – 1.5 CE hour(s)
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