Income-Producing Property; OSIP, OSIPM, and QMB
(1) This rule does not apply to personal or real property used in self-employment. See OAR 461-145-0915 to determine what constitutes self-employment and OAR 461-145-0600 to determine how to treat real or personal property used in self-employment.
(2) Income from income-producing property (see OAR 461-001-0000) is counted as follows:
(a)If a member of the financial group (see OAR…#
(a) If a member of the financial group (see OAR 461-110-0530) actively manages the property 20 hours or more per week, the income is treated in the same manner as self-employment income (see OAR 461-145-0915, 461-145-0920, and 461-145-0930).
(b)If a member of the financial group does not actively…#
(b) If a member of the financial group does not actively manage the property 20 hours or more per week, the income is counted as unearned income with exclusions allowed only in accordance with OAR 461-145-0920.
(3) Except for QMB-BAS, QMB-SMB, and QMB-SMF, the equity value (see OAR 461-001-0000) of income-producing property is counted as a resource, subject to the following exceptions:
(a) Except as provided in OAR 461-140-0020.
(b) If the income-producing property, including houses or apartments for rent and land other than the primary residence, produces an annual countable (see OAR 461-001-0000) income of at least six percent of its equity value, the value of the property is excluded up to a maximum of $6,000.