The Department of Housing and Urban Development (HUD) has released its final rule, which will amend regulations to implement changes to the Family
Self-Sufficiency (FSS) program. After consideration of public comments made about the new regulations in Section 306 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, HUD has decided to further revise and incorporate the changes proposed in the previous amendments.
The final rule, which is targeted to improve the program for PHAs, multifamily property owners, and eligible families, will include several revisions. Some revisions include: allowing HCV and Section 8 families to be eligible for the FSS program; revising definitions; further revising the Contact of Participation (CoP); revising the lists of activities for which forfeited escrow funds may be used; and making changes to portability provisions.
The rule is set to go into effect 30 days after publication. Compliance of the proposed rule is required no later than 180 days after date of publication.
Further information on the FSS program can be found here.
The proposed rule from September 2020 can be found here.