2009 Income Limits Published
On March 19, 2009 HUD released the income limits for 2009. And, as
expected, a separate data set was created for properties which HUD labels as
Multifamily Tax Subsidy Projects or MTSPs. The following statement was
posted at the Section 8 income limit data set page:
"Due to the Housing and Economic Recovery Act of
2008 (Public Law 110-289), Income Limits used to determine qualification
levels as well as set maximum rental rates for projects funded with tax
credits authorized under section 42 of the Internal Revenue Code (the Code)
and projects financed with tax exempt housing bonds issued to provide
qualified residential rental development under section 142 of the Code
(hereafter referred to as Multifamily Tax Subsidy Projects (MTSPs)) are now
calculated and presented separately from the Section 8 income limits
presented below. Beginning with the publication of FY2009 Median Family
Income estimates and Income Limits, the information found on the rest of
this page CAN NO LONGER be used by those interested in income limits used in
MTSPs. Suitable income limits for these projects are now available at the
following link:
Multifamily Tax Subsidy Income Limits."
The income limits are effective today, March 19th
which means they must be implemented no later than May 2, 2009. To access
the income limits click the appropriate links below:
 Be sure to catch my in depth article on these new
limits in the next issue of
The Compliance Monitor.
If
you unfamiliar with the Housing and Economic Recovery Act of 2008 and its
impact on the income limits, be sure to take the time to watch
Housing
Credits 520: Understanding & Implementing H.R. 3221
which is available 24 hours a day, 7 days a week at the
Housing
Credit Online Training Center.
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