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UNOFFICIAL 1725.1-40 payments or the entitled stream of income constitutes a transfer of asset. (c) The amount of income used to calculate a penalty period shall be: (1) The gross amount of the lump sum income transferred in the month it was received; or (2) The total gross amount of income expected to be received during the individual’s lifetime when the entitled stream of income was transferred, which is calculated by multiplying the annual amount of income expected to be received during the individual’s lifetime based on the life expectancy tables established by the Social Security Administration's Office of the Actuary. [Eff 09/30/13] (Auth: HRS §346- 14; 42 C.F.R. §431.10; 42 U.S.C. §1396p(c)) (Imp: 42 C.F.R. §431.10; 42 U.S.C. §1396p(c))

§17-1725.1-56 Transfer of assets that are not subject to the assessment of a penalty. A penalty period shall not be applied when: (1) The asset transferred was the individual’s home property and title was transferred to the: (A) Spouse of such individual; (B) Child of such individual who is under age twenty-one years, or a blind or disabled child; (C) A sibling of such individual who has an equity interest in the home, and has resided in the home for at least one year immediately prior to the date the individual becomes an institutionalized individual; or (D) An adult child of such individual, other than a child described in paragraph (B), who has resided in the home with the individual for at least two years immediately prior to the date