Hot HUD Compliance Topics January 16, 2013 Michael Hollar Senior Economist U.S. Department of Housing and Urban Development.

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Presentation transcript:

Hot HUD Compliance Topics January 16, 2013 Michael Hollar Senior Economist U.S. Department of Housing and Urban Development

Collection of 2012 LIHTC Data 1.Schedule 2.Changes to Forms 3.GAO Report on Property Data

Collection of 2012 LIHTC Data 1.Property Data: P laced into service in Tenant Data: Tenants in LI units on Dec 31, Updated Property Data: Include significant updates/revisions in property submission. Include significant updates/revisions in property submission. me minor updates/revision. me minor updates/revision. including properties no longer monitored. including properties no longer monitored. Database available at LIHTC.HUDUser.org Database available at LIHTC.HUDUser.org

Schedule 1.Renewal of Data Collection Forms  Dec 28, 2012:Federal Register Notice published.  Feb 28, 2013:Public Comments due.  March 2013:Publish response to comments and submit to OMB for approval. 2.Update to Website  Proposed forms posted.  When forms approved, XML schema will be updated.  Direct Entry Userface.  Available in summer.

Schedule 3.Data Submissions  Assign weeks to upload. For example, States beginning with A– H:Week of Sept 3. I– M:Week of Sept 10. N– P:Week of Sept 17. Q– Z:Week of Sept 24.

Proposed Changes to Data Forms Property Form Changes: 1.HUD Property ID added. 2.Credit Percentage: ‘TCEP Only’ added. Instructions: 1.Reporting for Properties receiving only TCEP.

Proposed Changes to Data Forms Tenant Form Changes: 1.Separated Reporting of Elected Federal Percentage (60% or 50%) and deeper set-aside. 2.Rental Assistance amount reported separate for federal and other. 3.Source of Federal Rental Assistance added. Instructions: 1.Reporting for Unborn Children. 2.Missing SSN changed to ‘0000’.

Points of Emphasis 1.Addresses: Enter physical address. 2.BINs: Use IRS Format (ST ). 3.Restrictions on income and rent values used last year worked well.

GAO Report GAO-13-66:Agencies Implemented Changes Enacted in 2008, but Project Data Collection Could Be Improved. (Released Dec 6, 2012) Recommendation: HUD evaluate and implement additional steps to improve its LIHTC Database.

Questions?  HUD:Mike Hollar  Abt:Carissa Climaco