2024 Updates Due to HOTMA
The Housing Opportunity Through Modernization Act of 2016 (HOTMA) was signed into law to streamline processes and reduce administrative burdens on affordable housing providers. Section 102 of the law makes significant changes to how annual income, including income from assets and student financial assistance, is determined and applies to the Housing Tax Credit and CHFA Multifamily Loan programs.
HOTMA took effect January 1, 2024. Implementation of CHFA's updated policies is mandatory for all developments beginning no later than January 1, 2025.
CHFA has updated relevant compliance forms and sections of the Multifamily Program Compliance Manual to align with the HOTMA regulations that apply to the Housing Tax Credit and CHFA Multifamily Loan programs. For current guidance and forms, view the LIHTC Program Compliance and Compliance Forms pages.
CHFA's Pre-HOTMA Guidance
Use this page to access pre-HOTMA Program Compliance guidance, documents, and forms. This pre-HOTMA information is provided as a reference only for any tenant certifications completed prior to implementation of HOTMA.