(a) The income verification period shall be the calendar year January 1 to December 31 of the preceding year. For residents who are seasonally employed, employed in a second job for a portion of the year, or are self-employed, their income shall be based on the average income for the preceding two year period
(b) Immediately after December 31 of each year the Board of Directors shall send applications for income verification to all current residents. These applications shall be completed by the residents and returned to the developer on or before February 15.
(c) All residents shall be recertified to be effective May 1 with any carrying charge changes. Written notice of these carrying charge changes shall be delivered to the resident at least 30 days prior to the effective date.
(d) Upon a resident's failure to submit such income verification, the Board of Directors may institute procedures for summary process, pursuant to Chapter 832 of the Connecticut General Statutes. During the non-compliance period, the Board of Directors shall compute the resident's carrying charges at the unit's market value. The resident may comply with the re-verification requirements at any time prior to eviction. Any difference between the market value charged and the carrying charges computed upon verification shall be due to or from the Board of Directors, except that the Board of Directors may charge reasonable administrative and legal fees necessary to pursue the eviction process.
(e) The requirements for verification of income shall be included in all occupancy agreements.
In limited equity cooperatives where the carrying charge is determined by the developer and approved by the commissioner, as noted in Section 8-214h-12(a)
(2) (B), income shall be verified every two years according to the schedule noted in subsection (b) of this section
(g) Income verification data shall be submitted in the form and manner prescribed by the commissioner.