[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR983.302]

[Page 675-676]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
 
PART 983_PROJECT-BASED VOUCHER (PBV) PROGRAM--Table of Contents
 
                         Subpart G_Rent to Owner
 
Sec.  983.302  Redetermination of rent to owner.

    (a) The PHA must redetermine the rent to owner:
    (1) Upon the owner's request; or
    (2) When there is a five percent or greater decrease in the 
published FMR in accordance with Sec.  983.301.
    (b) Rent increase. (1) The PHA may not make any rent increase other 
than an increase in the rent to owner as determined pursuant to Sec.  
983.301. (Provisions for special adjustments of contract rent pursuant 
to 42 U.S.C. 1437f(b)(2)(B) do not apply to the voucher program.)
    (2) The owner must request an increase in the rent to owner at the 
annual anniversary of the HAP contract by written notice to the PHA. The 
length of the required notice period of the owner request for a rent 
increase at the annual anniversary may be established by the PHA. The 
request must be submitted in the form and manner required by the PHA.
    (3) The PHA may not approve and the owner may not receive any 
increase of rent to owner until and unless the owner has complied with 
all requirements of the HAP contract, including compliance with the HQS. 
The owner may not receive any retroactive increase of rent for any 
period of noncompliance.
    (c) Rent decrease. If there is a decrease in the rent to owner, as 
established in accordance with Sec.  983.301, the rent to owner must be 
decreased, regardless of whether the owner requested a rent adjustment.
    (d) Notice of rent redetermination. Rent to owner is redetermined by 
written notice by the PHA to the owner specifying the amount of the 
redetermined rent (as determined in accordance with Sec. Sec.  983.301 
and 983.302). The PHA notice of the rent adjustment constitutes an 
amendment of the rent to owner specified in the HAP contract.

[[Page 676]]

    (e) Contract year and annual anniversary of the HAP contract. (1) 
The contract year is the period of 12 calendar months preceding each 
annual anniversary of the HAP contract during the HAP contract term. The 
initial contract year is calculated from the first day of the first 
calendar month of the HAP contract term.
    (2) The annual anniversary of the HAP contract is the first day of 
the first calendar month after the end of the preceding contract year. 
The adjusted rent to owner amount applies for the period of 12 calendar 
months from the annual anniversary of the HAP contract.
    (3) See Sec.  983.206(c) for information on the annual anniversary 
of the HAP contract for contract units completed in stages.