Effective March 28, 2016
HUD does not allow for a 45 day grace period and software vendors will be required to update the limits immediately.
For tax credit properties, there is a 45 day grace period, which means that these new limits must be implemented by May 11, 2016. We encourage managers of tax credit properties to review the limits to see if they have gone up as recently denied applicants may now qualify for the program.
The new 2016 Income Limits can be found here.