Technical Guide for Determining Income and Allowances for the HOME Program
Third Edition (HUD-1780-CPD, January 2005. Supersedes HUD-1780-CPD, June 1999)
The HOME Investment Partnerships (HOME) Program is a flexible and versatile funding resource for affordable housing.
A fundamental component of using HOME funds effectively is ensuring that they are targeted to households that are eligible for assistance.
HOME Program rules effective October 1996 require that participating jurisdictions (PJs) use one of three definitions of annual income to determine the eligibility of applicants to their programs.
The definitions are: annual income as used in HUD programs like Section 8 and defined in 24 CFR 5.609; annual income as reported under the Census long form for the most recent decennial census; and adjusted gross income as defined by the Internal Revenue Service (IRS) Form 1040 series for individual federal annual income tax reporting purposes.
This self-study guide serves as a companion to the model programs on HOME Program activities.
It includes explanations of the basic requirements as well as exercises and case studies to enable readers to test their understanding of the key concepts.
|Content Archived: May 20, 2011|