2506-AC42 201804 Unified Agenda of Federal Regulatory and Deregulatory Actions 2506 Office of Community Planning and Development CPD 2500 Department of Housing and Urban Development HUD HOME Investment Partnerships Program: Updating Grant Accounting Requirements (FR-5792)

HUD's HOME Investment Partnerships Program (HOME program or HOME) provides formula grants to States and units of local government to fund a wide range of activities directed to producing or maintaining affordable housing, both homes and rental housing. 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 forth at 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.

 

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No Other 24 CFR 92 42 U.S.C. 12701 to 12839 42 U.S.C. 3535(d) No Interim Rule 12/02/2016 81 FR 86947 Interim Final Rule Effective 01/03/2017 Final Action 12/00/2018 No No Local State No No No Henrietta Owusu Director, Program Policy Division, Office of Affordable Housing Programs 2506 Office of Community Planning and Development CPD 202 708-2684 451 Seventh Street SW, Washington DC 20410