The new rule references a “payment plan” – what is that and when are they effective?
• Individuals – rent $100 or less — 10-year interval or one-time payment; • Individuals – rent over $100 — annual or multi-year intervals; • All Others – 10-year interval or one-time payment. These rent payment options become effective on the effective date of the regulations for all new grants that are subject to rent. A three-year phase-in period will be provided for grants issued prior to the effective date of the regulations.
