Thursday, September 19th
9:00am - 12:00pm
Understanding HOTMA – HUD
Instructor: Sonja Horn McGaha

The Housing Opportunity through Modernization Act (HOTMA) has introduced significant changes in how income is calculated for affordable housing programs. This session provides an overview of HOTMA and its implications for determining household income. Participants will gain insights into key topics essential for compliance and effective program management.

Key Topics Covered:

  • Determining Household Size: Guidelines and considerations for determining the size of a household under HOTMA.
  • Earned Income and Unearned Income: Definitions and calculations of earned and unearned income under the new regulations.
  • Deductions: Types of deductions allowed under HOTMA, including standard deductions and specific allowances.
  • Disability & Childcare Expenses and Hardships: Treatment of disability-related expenses, childcare costs, and hardship deductions.
  • Medical Expenses and Hardships: Understanding eligible medical expenses and hardship deductions under HOTMA.
  • Asset Inclusions and Exclusions: Guidelines for including or excluding assets in income calculations.
  • Imputing Asset Income: Methods for imputing income from assets that generate no current income.
  • Asset Limitation: Limits on assets for eligibility under HOTMA guidelines.