On Friday, April 14, 2017, HUD released the 2017 Income Limits. To access the new income limits, visit the HUDUser web site at https://www.huduser.gov/portal/datasets/il.html.
For HUD's Multifamily Housing program,
the new 2017 Income limits are effective immediately.
All certifications effective 4/14/2017 or later will include the new income limits.
Property managers should remember that Income Limits are considered only at Move-in and, in very limited cases, at the Initial Certification. Income Limit changes do not affect a current resident's eligibility for the HUD Multifamily Housing programs (Section 8, PRAC, etc.) when that resident is already receiving subsidy/housing assistance.
New Income Limits must be entered in to your software program. In most cases, this means that you will need to update the income limit tables in your site software. Check your income limit tables and if the new 2017 limits are different, update pertinent fields.
If you don't know how to check your income limits, refer to your software documentation, your software vendor's web resources or call your software vendor's customer support number.
For the Tax Credits program, income limits are posted at https://www.huduser.gov/portal/datasets/mtsp.html. Per IRS Revenue Ruling 94-57, income limits must be implemented on the effective date or no more than 45 days from the published date. This means this year's limits must be implemented no later than May 28, 2017.
The 45-day implementation period is NOT applicable to HUD's multifamily housing programs.