October 12, 2023 the 2024 COLA was published at 3.2%.
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.
HOTMA: Section 104: Asset Limits The Final Rule of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) provides some significant changes to the way managers and owners will verify and treat assets. These changes will benefit tenants, administrators and...
HUD has announced the 2023 income limits for the MTSP housing programs effective May 15, 2023.
Walmart has announced that in early March 2023, store employees will make a minimum of $14.00 per hour which is an increase of $2.00 to the current minimum hourly rate.
The RMD age adjustment is actually an extension of a change from the first SECURE Act, which in 2019 raised the age for RMDs from 70 1/2 to 72. In addition to raising the age for 2023 to 73.