Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2013
The United States Housing Act of 1937 requires that assistance contracts signed by owners participating in the Department's Section 8 housing assistance payment programs provide annual adjustments to monthly rentals for units covered by the contracts. This notice announces FY 2013 AAFs for adjustment of contract rents on assistance contract anniversaries. The factors are based on a formula using residential rent and utility cost changes from the most recent annual Bureau of Labor Statistics Consumer Price Index (CPI) survey. These factors are applied at Housing Assistance Payment (HAP) contract anniversaries for those calendar months commencing after the effective date of this notice. For FY 2011 and FY 2010, these AAFs were designated as ``Contract Rent'' AAFs, to differentiate them from ``Renewal Funding'' AAFs that were used exclusively for renewal funding of tenant-based rental assistance. Renewal Funding AAFs were replaced by an inflation factor established by the Secretary in FY 2012, so there is no need to differentiate the AAF by use. A separate Federal Register Notice will be published at a later date that will identify the inflation factors that will be used to adjust tenant-based rental assistance funding for FY 2013.