On January 22, 2015, the U.S. Department of Health & Human Services published the 2015 Poverty Guidelines in the Federal Register. These guidelines are used to determine financial eligibility for certain federal programs, including HUD Subsidized housing programs.
HUD had delayed publishing the 2015 income limits (they were due on December 1, 2014), until the poverty guidelines were published. This is because the 2014 Consolidated Appropriation’s Act changed the definition of an extremely low-income household for housing purposes from 30% of area median income to the greater of the poverty guidelines or 30% of AMI.
Now that the guidelines are out, HUD should very shortly publish the 2015 income limits for HUD’s assisted housing programs and for projects with Low-Income Housing Tax Credits and Tax-Exempt Bonds. Publication of these limits could occur as early as February 2.