In this week’s #TuesdayTip, more discussion on the documents, forms, and deductions changing under the HOTMA rule.
Changes under HOTMA
- HUD Forms and Documents
- Income Inclusions & Exclusions
- Interim Recertification requirements
- Annual Recertification requirements
- Asset Inclusion & Exclusions
- Asset verification & method used to determine income from assets
- EIV Reporting Requirements
- Changes to other Deductions such as the
- Dependent, Childcare, &
- Elderly/Disabled Family Deduction
- Medical Expense Disability Assistance Expense Deductions
HUD is updating the following forms to reflect required changes under HOTMA:
- HUD–50059
- HUD-50059A
- HUD 9834
- HUD Model Leases
- Resident Rights and Responsibilities Brochure
- HUD Handbook 4350.3
Again, HOTMA will also use the software TRACS 203A. Please contact your vendor or provider to make sure your software will be up to date by January 1, 2024.
