RURAL HOUSING SERVICE ISSUES PROPOSED RULE: REVISIONS TO THE CALCULATION OF ANNUAL HOUSEHOLD INCOME AND NET FAMILY ASSETS IN THE SECTION 515 RURAL RENTAL HOUSING AND SECTION 514/516 FARM LABOR HOUSING PROGRAMS

WASHINGTON, June 30 -- Rural Housing Service has issued a proposed rule called: Revisions to the Calculation of Annual Household Income and Net Family Assets in the Section 515 Rural Rental Housing and Section 514/516 Farm Labor Housing Programs.

The proposed rule was published in the Federal Register on June 30 by Christine Mechtly, Acting Administrator, Rural Housing Service.

Summary: The Rural Housing Service (RHS or Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), proposes to amend its regulation to implement changes related to income calculation and net family assets for properties that receive funding from the Multi-Family Housing (MFH) Section 515 Rural Rental Housing and the Section 5...