HUD Reissues Fiscal Year 2013 Income Limit

HUD issued a notice that the Fiscal Year 2013 income limits published on December 4, 2012, and identified in RHIIP Listserv #290, were replaced with revised income limits on December 11, 2012. Because of the revision, the policy for implementing the FY2013 income limits is as follows:

If an owner has not yet implemented the FY2013 income limits published either on 12/4/2012 or on 12/11/2012, the owner has 45 days from 12/11/12 to implement the 2013 income limits published on 12/11/2012;

If an owner implemented the FY2013 income limits published on 12/4/2012, but not yet implemented the FY2013 income limits published on 12/11/2012, the owner must either:

• Immediately implement the 2013 income limits published on 12/11/2012; or
• Revert back to the 2012 income limits and implement the 2013 income limits published on 12/11/2012 within 45 days.

If an owner has implemented the FY2013 income limits published on 12/11/2012, continue to use these income limits.

For more information, click here.

(December 18, 2012)