Section 17-675-49 - Special provision for the food stamp program - income producing property(a) For the food stamp program, equity in real property which annually produces income consistent with its fair market value, even if only used on a seasonal basis are exempt assets.(1) Property such as farm land and rental home, except certain vacation homes, which is essential to the employment or self-employment of a household member are exempt. Property essential to the self-employment of a household member engaged in farming shall continue to be excluded for one year from the date the household member stopped farming.(2) Rental homes which are used by households for vacation purposes at some time during the year which annually produces income consistent with the home's fair market value shall be exempt. The equity value of a vacation home used part of the year by the household which does not produce income consistent with the home's fair market value shall be counted as part of the household's personal reserve.(b) When it is necessary to determine if property is producing income consistent with its fair market value, the branch shall contact local realtors, local assessors, the Small Business Administration, the Farmer's Home Administration, or other similar sources to determine the prevailing rate of return, for example, square foot rental for similar usage of real property in the area.(c) If the branch determines that the property is not producing income consistent with its fair market value, for example, the property is being leased for a token payment, the equity amount of the property shall be counted as an asset. However, if the property is leased for a return that is comparable to other property in the area leased for similar purposes, it shall be considered as producing income consistent with its fair market value and shall not be considered an asset.(d) All findings shall be thoroughly documented in the case file.(e) Property exempt as essential to employment need not be producing income consistent with its fair market value. For instance, the land of a farmer is essential to the farmer's employment and a good or bad crop year shall not affect the exemption of the property as an asset.[Eff 3/19/93] (Auth: HRS § 346-14) (Imp: 7 C.F.R. §273.8(e) )