Income-Targeting — HUD Handbook 4350.3 REV-1

A statutory requirement that at least 40% of new admissions to a Section 8 property in each fiscal year be households with incomes at or below 30% of the area median income. The law ensures that a significant portion of federal housing assistance goes to families with the greatest need. [24 CFR 5.601, 5.603, 5.653]

Increased Ability to Pay An increase in the tenant’s income to a point where the total tenant payment is equal to or greater than the contract rent, plus any utility allowance, for the unit. An increased ability to pay does not apply to Section 202 PRAC or Section 811 PRAC properties.

Independent Independent public auditor is a Certified Public Accountant or a Public Auditor licensed or registered public accountant, having no business relationship with the private owner except for the performance of audit, systems work and tax preparation. If not certified, the Public Accountant must have been licensed or registered by a regulatory authority of a State or other political subdivision of the United States on or before December 31, 1970. In States that do not regulate the use of the title “public accountant,” only Certified Public Accountants may be used.

Independent Student To be classified as an independent student, the student must meet the Independent Student definition for Title IV aid. The student must meet one or more of the following criteria:

Be at least 24 years old by December 31 of the award year for which aid is sought;
Be an orphan or a ward of the court through the age of 18;
Be a veteran of the U.S. Armed Forces;
Have legal dependents other than a spouse (for example, dependent children or an elderly dependent parent);
Be a graduate or professional student; or
Be married.

Institution of Higher Institution of Higher Education shall have the meaning given this term Education in the Higher Education Act of 1965 in 20 U.S.C. 1001 and 1002.

HUD Occupancy Handbook Glossary

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Glossary

4350.3 REV-1