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3. Multiple disqualifying transfers – The treatment of multiple disqualifying differs depending on the year the transfer occurred and whether there is overlap: a. Transfers before February 8, 2006. When more than one (1) disqualifying transfer is made prior to this date, the State treats each transfer separately and sets the start date for the penalty on the first (1st) day of the month when each transfer was made. If the penalty periods for the transfers would overlap, the start date for the penalty is the first (1st) day of the month that the first disqualifying transfer was made. b. On or after February 8, 2006. When multiple disqualifying transfers are made on or after this date, and within the five (5) year look-back period, the State considers the total UV of all the transfers when determining the penalty period. The penalty start date is the date the applicant or beneficiary is otherwise eligible or, in the event there is overlap, the first (1st) day of the month of the first (1st) transfer, whichever is later. 4. Penalty period of less than one month – If the penalty period of ineligibility is determined to be less than one (1) month, the State imposes a partial- month penalty and does not round down or disregard any fractional period of ineligibility. The date the penalty period begins is the date the person is otherwise eligible for Medicaid LTSS or the first (1st) day of the month during or after the disqualifying transfer. If a penalty period is in effect on that date, the penalty period is extended by the appropriate number of days. 5. Lump-sum income – When there is a disqualifying transfer of income in a lump sum, the State calculates the penalty period based on the lump-sum value. 6. Stream of income – The State calculates the penalty for each income payment that is periodically transferred. F. In instances in which disqualifying asset is returned in its entirety, the transfer penalty is expunged as of the first moment of the first day of the month after the return. When an asset transferred for less than FMV is returned in full in the same month, a period of ineligibility does not apply and the disqualifying transfer is treated as if it never occurred. If an asset transferred for less than FMV is returned in a subsequent month, the uncompensated value of the asset is recomputed to determine whether any period of ineligibility applies through the month of the return or subsequent months based on the adjusted uncompensated value.