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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.

 

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