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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 19 If the earnings decline was for reasons beyond the individual's control, up to 24 months can be allowed for the property to resume producing a 6% return. The 24-month period begins with the first day of the tax year following the one in which the return dropped to below 6%. • 24-Month Period Ends If the property still is not producing a 6% return, include the full equity value of the property in determining resources for the month following the month in which the 24-month period ends. 9.4.3. Operating At A Loss At initial application, if the tax returns show that the activity has operated at a loss for the two most recent years or longer, the property cannot be excluded unless the individual submits current receipts and records to show that it currently is producing a 6% return. 9.5. More Than One Income Producing Property If an individual owns more than one piece of income producing property: • The 6% return requirement is computed separately for each piece of property; and • The $6,000 EV exclusion applies to each piece of property that meets the 6% return requirement 9.6. Equity Value Exceeds $6000 The portion of a property’s EV in excess of the $6,000 excluded amount is a countable resource. Example Mr. Cameron states that he now lives in an ALF and is renting out his formerly excluded home, which has an EV of $7,000. If the property produces a 6% return, $6000 of its equity will be excluded and $1,000 will be a countable resource. The rent will be evaluated as unearned income.

9.7. Verification

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Official source

DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 19 If the earnings decline was for reasons beyond the individual's control, up to 24 months can be allowed for the property to resume producing a 6% return. The 24-month period begins with the first day of the tax year following the one in which the return dropped to below 6%. • 24-Month Period Ends If the property still is not producing a 6% return, include the full equity value of the property in determining resources for the month following the month in which the 24-month period ends. 9.4.3. Operating At A Loss At initial application, if the tax returns show that the activity has operated at a loss for the two most recent years or longer, the property cannot be excluded unless the individual submits current receipts and records to show that it currently is producing a 6% return. 9.5. More Than One Income Producing Property If an individual owns more than one piece of income producing property: • The 6% return requirement is computed separately for each piece of property; and • The $6,000 EV exclusion applies to each piece of property that meets the 6% return requirement 9.6. Equity Value Exceeds $6000 The portion of a property’s EV in excess of the $6,000 excluded amount is a countable resource. Example Mr. Cameron states that he now lives in an ALF and is renting out his formerly excluded home, which has an EV of $7,000. If the property produces a 6% return, $6000 of its equity will be excluded and $1,000 will be a countable resource. The rent will be evaluated as unearned income.

9.7. Verification