Are You Ready for HOTMA?
Trainer: Gwen Volk,
Gwen Volk INFOCUS, Inc.
Tuesday, April 9, 2024
9:00 am - 4:00 am
Louisville, KY
Fees:
SAHMA Member: $215
Non-members: $315
8:00 am - 9:00 am On-site Check In & Continental Breakfast
9:00 am - Noon Instruction
Noon - 1:00 pm Lunch
1:00 pm - 4:00 pm Instruction
Description:
Updated for the 2/2/2024 reissuance and revision of Notice 2023-10!
HUD has revised and reissued the Supplementary Guidance effective 2/2/2024 to correct and clarify numerous requirements in the original guidance. In addition, HUD has now added “Total Nonenforcement” (translation – “grandfathering”) of the Section 8 Asset Restrictions as another Owner option for existing residents. Don’t miss this opportunity to be ready for HOTMA.
On 9/29/23, HUD issued the long-awaited policy guidance on implementing HOTMA. Additional guidance is expected sometime in the 1st quarter of 2024. The course will include everything that is known about what, how and when to implement the numerous HOTMA changes, helpful resources, and tools, so that, regardless of what HUD does or does not do, after completing the course, you will be ready for HOTMA.
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Topic 1: Income and Income from Assets – including fosters not counted in the income limit, new income exclusions, methods of calculation – means tested, streamlined, traditional, student financial aid – new definitions, changes to Section 8 exceptions, how to calculate for both Section 8 and other HUD programs)
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Topic 2: Assets and Income from Assets- including new asset exceptions, asset threshold, non-necessary personal property, and method to calculate income from assets.
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Topic 3: The Section 8 Asset cap - including two types, when and how to apply to residents and new applicants, exceptions, owner hardship policies.
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Topic 4: Deductions and Allowances - including CPI adjustment, 10% medical and disability “deductible” – new tenants and existing tenant phase-in, owner hardship policies.
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Topic 5: Annual Recertification – including new methods to do annuals, owner option for retroactive rent decreases, other issues regarding when rent and HAP increase or decrease.
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Topic 6: Interim Recertification – including lease requirements, increases based on 10% change in adjusted income, how to determine, owner option on % change for decreased income, owner option on using EIV, changes and owner options regarding increasing rent when earned income increases.
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Topic 7: Miscellaneous – New forms – leases, 50059, 9887 and 9887A, how and when to implement, De minimum errors – impact on owner, impact on tenants, suspension of EIV Income Discrepancy reports, new ways to verify SSN’s.
