Q: I want an explanation of the HUD defined HAP contract annual anniversary date and contract year
It seems this is circular logic definitions, if you can explain with an example.
(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.
https://www.ecfr.gov/current/title-24/subtitle-B/chapter-IX/part-983/subpart-G/section-983.302
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A: Under HUD guidelines, the HAP contract annual anniversary date and contract year can indeed be a bit confusing. To illustrate with an example, let's say a HAP contract starts on April 1, 2023. The initial contract year would run from April 1, 2023, to March 31, 2024. The annual anniversary date of this HAP contract would then be April 1, 2024. For each subsequent year, the contract year is the 12 months leading up to but not including that anniversary date. So, the next contract year would be April 1, 2024, to March 31, 2025, with the annual anniversary on April 1, 2025, and so forth. The significance of this date is that any adjusted rent amounts agreed upon in the HAP contract would take effect from the annual anniversary date for the next 12 calendar months.
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