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HUD/CPD RIN: 2506-AC42 Publication ID: Spring 2020 
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 finalizes several changes to the HOME program regulations. HUD  implemented 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 selects 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) disburses the funds committed to that project rather than the oldest funds available as is currently the case. New requirements were 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: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
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  12/02/2016  81 FR 86947   
Interim Final Rule Effective  01/03/2017 
Final Action  01/00/2021 
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:
Virginia Sardone
Director, Office of Affordable Housing Programs, Office of Community and Development
Department of Housing and Urban Development
Office of Community Planning and Development
451 Seventh Street SW,
Washington, DC 20410
Phone:202 708-2684