Source: https://www.hudexchange.info/home/home-final-rule/the-home-final-rule-effective-dates/
Timestamp: 2019-06-20 22:13:08
Document Index: 237743427

Matched Legal Cases: ['§92', '§92', '§92', '§92', '§92', '§92', '§ 92', '§ 92', '§ 92', '§ 92', '§ 92', '§ 92']

The HOME Final Rule Effective Dates - HUD Exchange
The HOME Final Rule Effective Dates
In general, the provisions of the 2013 Rule are applicable to projects for which HOME funds are committed on or after August 23, 2013 (30 days following publication date of the Final Rule), except for the following:
The change in the definition of commitment at §92.2 that no longer permits non-specific reservations of funds to CHDOs as a commitment becomes effective 90 days after the publication date of the Final Rule, on October 22, 2013. This provision will be implemented by HUD for deadlines that occur on or after January 1, 2015.
The requirements at §92.254(f) that require the PJ to adopt homebuyer program policies will be effective six months after publication date of the Final Rule, on January 24, 2014.
The new requirement at §92.504(a) that PJs develop and follow written policies and procedures and implement a risk-based monitoring system becomes effective 12 months after the publication date of the Final Rule, on July 24, 2014.
The requirement at §92.504(d)(2) for financial oversight of HOME-assisted rental projects during the affordability period will become effective 12 months after the publication date of the Final Rule, on July 24, 2014.
The separate 5-year deadline for expenditure of CHDO set-aside funds established at §92.500(d)(1)(C) becomes effective on January 1, 2015, and will be implemented by HUD for all deadlines that occur on or after that date.
The property standard provisions at §92.251 apply to projects to which funds are committed 18 months after the publication date of the Final Rule, on January 24, 2015.
2013 HOME Final Rule Effective Dates Summary
Requirements w/ Delayed Implementation
Project-specific CHDO reservations (§ 92.2, definition of commitment)
October 22, 2013 (90 days after publication date)
HUD will implement for all deadlines on or after January 1, 2015
Homebuyer procedures (§ 92.254(f))
January 24, 2014 (6 months after publication date)
Written policies, procedures, and systems (§ 92.504(a))
July 24, 2014 (12 months after publication date)
Financial oversight (§ 92.504(d)(2))
5-year CHDO expenditure deadline (§ 92.500(d)(1)(C))
Property standards (§ 92.251)
January 24, 2015 (18 months after publication date)