HUD Publishes Notice on HERA Changes
By Caitlin Jones & A. J. Johnson
1 min read
Tax Credit Advisor, January 2009: The U.S. Department of Housing and Urban Development (HUD) has published a notice regarding the applicability to HUD’s public housing and Section 8 tenant-based and project-based voucher programs of certain provisions of the recent Housing and Economic Recovery Act (HERA).
The Federal Register notice, published 11/24/08, describes key amendments that affect HUD’s public housing and voucher programs; identifies which changes program participants can implement without further HUD action or guidance; and identifies provisions where HUD action or guidance is needed and the specifics and timing of these.
One amendment HUD says is self-implementing is the extension of the maximum term for project-based voucher contracts to 15 years from 10.
Some of the amendments relate to easing certain HUD program rules and requirements for projects assisted by low-income housing tax credits. (For background, see Tax Credit Advisor, September 2008, p. 35.)
(http://edocket.access.gpo.gov/2008/E8-27871.htm)
