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baseline date and extending back to the look-back date. For all other applicants who apply before July 20, 2007, the look-back period is the 36 months immediately preceding the baseline date and extending back to the look-back date. For an applicant who applies on or after July 20, 2007, the look-back period is 60 months immediately preceding the baseline date and extending back to the look-back date. (d) For a transfer of an asset for less than fair market value that occurred on or before February 7, 2006, the transfer-of-asset penalty will be determined by

(1) totaling the uncompensated value of all transfers that occurred during the look-back period;

(2) dividing the total in (1) of this subsection by the average monthly cost to a private patient of nursing home care in the individual’s community on the date of application or, if the department cannot determine the community in which the individual would receive nursing facility services, the current swing-bed rate established under 7 AAC 150.160(k);

(3) rounding the quotient in (2) of this subsection down to the nearest whole number; and

(4) establishing a transfer-of-asset penalty period equal in months to the number established in (3) of this subsection. (e) For a transfer of an asset for less than fair market value that occurs on or after February 8, 2006, the transfer-of-asset penalty will be determined by

(1) totaling the uncompensated value of all transfers that occurred during the look-back period;

(2) dividing the total in (1) of this subsection by the average monthly cost to a private patient of nursing home care in the individual’s community on the date of application or, if the department cannot determine the community in which the individual would receive nursing facility services, the current swing-bed rate established under 7 AAC 150.160(k); and

(3) establishing a transfer-of-asset penalty period equal in months, including any partial month, to the quotient in (2) of this subsection. (f) If multiple asset transfers occur within the same look-back period, the total cumulative uncompensated value of all transfers will be treated as one transfer for the purpose of determining the penalty period. (g) The penalty period determined under (d) of this section begins the first day of the month after the first transfer was made and runs continuously through the end of the penalty period, regardless of whether the individual continues to live in a medical institution or receive home and community-based waiver services. The penalty period determined under (e) of this section begins on the first day of the following month, whichever is later:

(1) the month immediately after the month the transfer occurred;

(2) the month that the department determines the recipient is eligible to receive long-term