2025 COLA Update: Impact on Affordable Housing Compliance

The Social Security Administration (SSA) recently announced the Cost-of-Living Adjustment (COLA) for 2025 at 2.5%, the lowest adjustment since 2020 (1.3%). The average COLA increase over the past...

2024 Income Limits

HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 2024..

Minimum wage increases for 2024

State 2023 Hourly Minimum Wage 2024 Hourly Minimum Wage Effective January 1, 2024 Alaska $10.85 $11.73 Arizona $13.85 $14.35 California $15.50 $16.00 Colorado $13.65 $14.42 Connecticut $15.00 $15.69...

HOTMA News for Private Consulting Clients

While HUD is allowing the implementation of the regulations to be pushed until 7-1-25, Spectrum Compliance has made the decision to implement the HOTMA changes on 1-1-24.  This allows for a year of trial and error before all states mandate the changes.  We are in contact with all state agencies concerning when they expect to implement HOTMA, and many have reported it will be 1-1-24.

Recent News Posts

Cost-of-Living Adjustment (COLA) for 2021

Cost-of-Living Adjustment (COLA) for 2021

The Social Security Administration has announced the Cost-of-Living Adjustment (COLA) for 2021. The COLA will increase 1.3 percent beginning on December 31, 2020. Read more at www.ssa.gov

2020 Income Limits

2020 Income Limits

Written by Lesley Murray, Spectrum Enterprises HUD has announced the 2020 income limits for the MTSP housing programs effective April 1, 2020. This includes low income housing tax credits and tax exempt bond financing. HUD allows for a 45 day grace period, which means...

Anticipated Income and Rideshare Drivers

Written by Jennifer Robinson, Spectrum Enterprises Nowadays, many of us have apps on our smartphones that allow us to, within seconds, hail a ride from our exact location to our desired destination using only our fingertips. The ridesharing industry exploded onto the...