ANCOR is sharing this guidance by the Department of Housing and Urban Development (HUD) because many of the people with disabilities that our members support have ABLE Accounts. Obtaining affordable housing is a key challenge for people with disabilities and this new HUD guidance will ideally make it easier for them to obtain housing.
As shared by HUD:
“Individuals have to be income eligible to receive assistance under HUD programs. Per 24 CFR 5.609,
annual income is defined as the anticipated total income from all sources received by every family
member which are not specifically excluded in 24 CFR 5.609(c). The exclusion found at 24 CFR
5.609(c)(17) instructs PHAs and owners to exclude from income all amounts that are specifically
excluded by other Federal statute when the statute is applicable to HUD programs. Given that the ABLE
Act creates a federally mandated exclusion for ABLE accounts applicable to HUD programs, in
determining a family’s income, HUD will exclude amounts in the individual’s ABLE account pursuant to
24 CFR 5.609(c)(17). The entire value of the individual’s ABLE account will be excluded from the
household’s assets. This means actual or imputed interest on the ABLE account balance will not be
counted as income. Distributions from the ABLE account are also not considered income. All wage
income received, regardless of which account the money is paid to, is included as income.”
“Applicability: This notice applies to the following programs:
1. Housing Choice Voucher Program, including all special voucher types
2. Public Housing
3. Project-based Section 8
New Construction
State Agency Financed
Substantial Rehabilitation
Section 202/8
Rural Housing Services (RHS) Section 515/
Loan Management Set-Aside (LMSA)
Property Disposition Set-Aside (PDSA)
Rental Assistance Demonstration Project Based Rental Assistance (RAD/PBRA)
