Iowa Admin. Code r. 265-24.5

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 265-24.5 - Amount of rent subsidy

(1)Use of subsidy. Assistance shall be used for rental expense.

(2)Maximum monthly payment for rent. Assistance for rent shall be equal to the lesser of the rent paid by the applicant or the current applicable fair market rent as published by HUD for the area where the applicant's residence is located, less 30 percent of the applicant's gross monthly income. The fair market rent used shall be that for a one-bedroom unit or a proportionate share of the fair market rent in living units containing more than one bedroom. When the applicant resides with a qualified dependent(s), the proportionate share may consist of additional bedrooms, applying the same maximum monthly payment standard.

(3)Monthly payment. Applicants approved for HCBS rent subsidy payments shall receive an ongoing monthly payment which is equal to the amount determined pursuant to subrule 24.5(2). The authority will not send any payments less than $50 but will accrue subsidy payments until such time as at least $50 is accumulated.

Iowa Admin. Code r. 265-24.5

Amended by IAB October 25, 2017/Volume XL, Number 9, effective 11/29/2017