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HUD/CPD RIN: 2506-AC42 Publication ID: Fall 2016 
Title: HOME Investment Partnerships Program: Updating Grant Accounting Requirements (FR-5792) 
Abstract:

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.

 

 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 24 CFR 92   
Legal Authority: 42 U.S.C. 12701 to 12839    42 U.S.C. 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Rule  02/00/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Local, State 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Henrietta Owusu
Director, Program Policy Division, Office of Affordable Housing Programs
Department of Housing and Urban Development
Office of Community Planning and Development
451 Seventh Street SW,
Washington, DC 20410
Phone:202 708-2684