Interim Final Rule: Streamlining Administrative Regulations for Multifamily Housing Programs…. FAST Act
Federal Register Vol. 82 No. 237 58335
Summary of Key Issue
- In cases of 90% fixed income, third party recertification/verification is required every third year; interim years are self-certified.
- Utility reimbursement of $45 or less can be given out every quarter and/or per management disbursement frequency policy
- Declaration from family (self-certification) will be accepted for net assets $5000 or less; however, 3rd party verification for all family assets will be required every third year and at move-in.
Please contact an NHC Compliance Manager if you have any questions or need assistance in implementing this change.