Director, Office of Affordable Housing Programs, Office of Community and Development

2501-AD69 201410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 2501 Office of the Secretary HUDSEC 2500 Department of Housing and Urban Development HUD HOME Program Changes to Binding Commitment Regulations (FR-5792)

This rule proposes several changes to the existing HOME program regulations. HUD is proposing to implement the changes to the method of determining compliance with the 24-month commitment deadline beginning with Fiscal Year 2015 HOME grants. Under this approach, when committing funds to a HOME project participating jurisdictions will select the grant year's funds that will be committed to a specific project. When the participating jurisdiction requests a draw of HOME funds for that project, the Integrated Disbursement and Information System (IDIS) will disburse the funds committed to that project rather than the oldest funds available as is currently the case. New requirements must be established to ensure timely commitment and expenditure of program income, repaid funds, and recaptured funds and of funds committed for programs to be administered by State recipients and subrecipients. Finally, conforming changes to the Consolidated Plan regulations with respect to program income, repaid funds, and recaptured funds are also proposed.

]]> Other Significant First Time Published in The Unified Agenda Proposed Rule Stage No No Not Yet Determined Not Yet Determined No NPRM 12/00/2014 No No None No No No No Virginia Sardone Director, Office of Affordable Housing Programs, Office of Community and Development 2506 Office of Community Planning and Development CPD 202 708-2684 451 7th Street SW, Washington DC 20410