Final HOME Rule 2013
It has been over two years since HUD released the new student rule for the HOME program, yet there is still much confusion regarding the exceptions and who is impacted by the rule changes. (It is important that you confirm this and all information with your PJ).
The student rule that most of us are familiar with is triggered when ALL members are full-time students. In contrast, the HOME student rule is triggered when ANY member (see exclusions below) is a student, be it part-time or full-time.
See a comparison graph:
If a unit receives HOME funds (even if it is combined with LIHTC or other funding programs) it excludes any student who:
1. Is enrolled in a higher education institution
2. Is under age 24
3. Is not a veteran of the U.S. military
4. Is not married
5. Does not have a dependent child(ren)
6. Is not a person with disabilities
7. Is not otherwise individually eligible, or have parents who, individually or jointly, are not eligible on the basis of income.
a. #7 refers to being eligible for Section 8. So, if the student OR their parents are eligible to receive Section 8, then they would meet exception #7.
Excluded students are prohibited from receiving any type of HOME assistance, including renting HOME-assisted rental units, receiving HOME tenant-based rental assistance, or otherwise participating in the HOME program independent of their low- or very low-income families.
Sources: Novogradac (comparison chart), HUD.gov