HOTMA States List

Sr. No

Name of State

Questions

Answer

Calculate child support based on payments received?

Yes

Have state required forms been revised?

Yes

If yes, list revised forms:

Tenant Income Certification

Adopt all newly defined income exclusions?

Exclude non-necessary personal property with a combined value of $50,000 or less?

Allow use of "Current" value for checking accounts?

Allow use of 2 pay stubs?

Calculate child support based on payments received?

Adopt new guidance regarding financial assistance (assess for all households)?

List here any HOTMA policies that will NOT be implemented:

Comments:

Delaware is not permitting implementation yet, in the process of updating their manual.

Adopt new guidance regarding financial assistance (assess for all households)?

Yes

Implementation Permitted on 1/1/2024?

Yes

REQUIRED Implementation Date:

1/1/2025

Have state required forms been revised?

PENDING

If yes, list revised forms:

PENDING

Adopt all newly defined income exclusions?

Yes

Exclude non-necessary personal property with a combined value of $50,000 or less?

Yes

Allow use of "Current" value for checking accounts?

Yes

Allow use of 2 pay stubs?

Yes

Calculate child support based on payments received?

Yes

Adopt new guidance regarding financial assistance (assess for all households)?

Yes

List here any HOTMA policies that will NOT be implemented:

2 pay stubs unclear. Still require documentation of efforts to get an EV first.

List here any HOTMA policies that will NOT be implemented:

None

Comments:

None

Implementation Permitted on 1/1/2024?

REQUIRED Implementation Date:

Have state required forms been revised?

If yes, list revised forms:

Adopt all newly defined income exclusions?

Exclude non-necessary personal property with a combined value of $50,000 or less?

Allow use of "Current" value for checking accounts?

Allow use of 2 pay stubs?

Comments:

None

Calculate child support based on payments received?

Adopt new guidance regarding financial assistance (assess for all households)?

List here any HOTMA policies that will NOT be implemented:

Comments:

Implementation Permitted on 1/1/2024?

Yes

REQUIRED Implementation Date:

1/1/2024

Have state required forms been revised?

Yes

Adopt all newly defined income exclusions?

Yes

Exclude non-necessary personal property with a combined value of $50,000 or less?

Yes

Implementation Permitted on 1/1/2024?

Yes

Allow use of "Current" value for checking accounts?

Yes

Allow use of 2 pay stubs?

Yes

Calculate child support based on payments received?

Yes

Adopt new guidance regarding financial assistance (assess for all households)?

Yes

List here any HOTMA policies that will NOT be implemented:

None

Comments:

None

Implementation Permitted on 1/1/2024?

REQUIRED Implementation Date:

Have state required forms been revised?

If yes, list revised forms:

REQUIRED Implementation Date:

1/1/2025

Adopt all newly defined income exclusions?

Exclude non-necessary personal property with a combined value of $50,000 or less?

Allow use of "Current" value for checking accounts?

Allow use of 2 pay stubs?

Calculate child support based on payments received?

Adopt new guidance regarding financial assistance (assess for all households)?

List here any HOTMA policies that will NOT be implemented:

Comments:

12/21/23: IFA will release a revised manual and forms in 2024 that will include HOTMA and AIT updates. It is IFA’s intent to allow owners and managers all of 2024 to implement these changes once they are available.

Implementation Permitted on 1/1/2024?

REQUIRED Implementation Date:

Have state required forms been revised?

PENDING

Have state required forms been revised?

If yes, list revised forms:

Adopt all newly defined income exclusions?

Exclude non-necessary personal property with a combined value of $50,000 or less?

Allow use of "Current" value for checking accounts?

Allow use of 2 pay stubs?

Calculate child support based on payments received?

Adopt new guidance regarding financial assistance (assess for all households)?

List here any HOTMA policies that will NOT be implemented:

Comments:

If yes, list revised forms:

PENDING

Implementation Permitted on 1/1/2024?

REQUIRED Implementation Date:

Have state required forms been revised?

If yes, list revised forms:

Adopt all newly defined income exclusions?

Exclude non-necessary personal property with a combined value of $50,000 or less?

Allow use of "Current" value for checking accounts?

Allow use of 2 pay stubs?

Calculate child support based on payments received?

Adopt new guidance regarding financial assistance (assess for all households)?

Adopt all newly defined income exclusions?

Yes

List here any HOTMA policies that will NOT be implemented:

Comments:

12/12/2023: IHDA has not completed our HOTMA updates. A management bulletin will be issued when updates are complete and posted to our website.

Implementation Permitted on 1/1/2024?

Yes

REQUIRED Implementation Date:

1/1/2024

Have state required forms been revised?

Yes

Adopt all newly defined income exclusions?

Yes

Exclude non-necessary personal property with a combined value of $50,000 or less?

Yes

Allow use of "Current" value for checking accounts?

Yes

Allow use of 2 pay stubs?

Yes

Exclude non-necessary personal property with a combined value of $50,000 or less?

Yes

Calculate child support based on payments received?

Yes

Adopt new guidance regarding financial assistance (assess for all households)?

Yes

Preferred Compliance Solutions is a monitoring and advisory firm serving developers, syndicators, investors, lenders and management companies of the multi-family affordable housing Industry

Preferred Compliance Solutions is a monitoring and advisory firm serving developers, syndicators, investors, lenders and management companies of the multi-family affordable housing Industry