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DEPARTMENT OF AGRICULTURE
Rural Housing Service
CFR Citation: 7 CFR Part 1980
RIN ID: RIN 0575-AC73
NOTICE: PROPOSED RULES
DOCUMENT ACTION: Advance notice of proposed rulemaking.
SUBJECT CATEGORY: Income Limit Modification
DATES: Comments on this advance notice of proposed rulemaking must be received on or before May 12, 2008 to be assured of consideration.
DOCUMENT SUMMARY: The Rural Housing Service is proposing to revise the existing income limit structure for Single Family Housing Guaranteed Loan Program (SFHGLP) eligibility. Instead of eligible adjusted income based on households ranging from 18 persons according to 7 CFR 1980.345 (a), a two tier income structure consisting of a 14 member household and a 58 member household is proposed. The new adjusted income limit for the 14 member household, for example, would be current adjusted income limit for the 4 member household. The present addon income limits for larger households will remain unchanged. The present multiple income limits (18 persons) are cumbersome, and the proposed consolidation is expected to simplify program delivery as well as allow the agency to serve additional qualified homebuyers. The SFHGLP is in partnership with many State Housing Agencies throughout the United States. The majority of these agencies already maintain a two tier income structure, and this proposed change would allow a seamless integration of the respective programs. This proposal would not apply to other housing programs.
SUMMARY: Income Limit Modification,
SUPPLEMENTAL INFORMATION
Classification This advance notice has been reviewed under Executive Order (EO)
12866 and has been determined to be not significant for the purposes of this EO.
Dated: March 18, 2008.
Russell T. Davis,
Administrator, Rural Housing Service.
[FR Doc. E87205 Filed 4908; 8:45 am]
BILLING CODE 3410XVP
FOR FURTHER INFORMATION CONTACT David Chaput, Senior Loan Specialist, USDA Rural Development, Single Family Housing Guaranteed Loan Division, STOP 0784 (Room 2250) 1400 Independence Ave., SW., Washington, DC 202500784. Telephone: 2027201456.
Common CFR Searches
14 CFR Part 39 40 CFR Part 52 14 CFR Part 71 33 CFR Part 165 50 CFR Part 679 47 CFR Part 73 26 CFR Part 1 40 CFR Part 180 33 CFR Part 117 50 CFR Part 17 44 CFR Part 67 50 CFR Part 648 14 CFR Part 97 33 CFR Part 100 40 CFR Part 63 50 CFR Part 622 44 CFR Part 65 50 CFR Part 660 26 CFR Part 301 39 CFR Part 111 40 CFR Part 300 6 CFR Part 5 40 CFR Part 271 47 CFR Part 64 40 CFR Parts 52 and 81 50 CFR Part 665 44 CFR Part 64 10 CFR Part 50 49 CFR Part 571 47 CFR Part 76