Page:United States Statutes at Large Volume 100 Part 2.djvu/225

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1327

other individual (other than a spouse) for income tax purposes for the first calendar year of such award year. "(D) The financial aid administrator may certify an individual described in clause (iii), (iv), or (vi) of subparagraph (B) on the basis of a demonstration made by the individual, but no disbursal of an award may be made without documentation. "(13) The term 'net assets' means the current market value at the time of application of the assets included in the definition of 'assets', minus the outstanding liabilities (indebtedness) against the assets. "(14) The term 'unreimbursed elementary and secondary school tuition and fees' means the unreimbursed tuition and fees paid by the student's parents for each dependent other than the student, or by an independent student (and spouse) for •^ dependents enrolled in elementary or secondary school, and may not exceed for each such dependent the national average per pupil instructional cost as published by the Center for Education Statistics using the most recent available data. "(15) The term 'untaxed income and benefits' means— "(A) investment income upon which no Federal income tax is required to be paid, such as the interest on municipal bonds; "(B) untaxed portions of capital gains; "(C) credit for Federal tax on special fuels; "(D) dividend exclusions and dividend reinvestment exclusions; "(E) foreign income exclusions; "(F) child support received; "(G) welfare benefits, including aid to families with dependent children under a State plan approved under part A of title IV of the Social Security Act, and aid to depend- 42 USC 601. ent children; "(H) veterans benefits such as Death Pension and Dependency and Indemnity Compensation, except that veterans educational benefits paid under chapters 34 and 35 of title 38 of the United States Code, Veterans' Administra- 38 USC 1651 et. tion contributory benefits, and Veterans' Administration s«9v 1700 et seq. vocational rehabilitation program benefits for postsecondary education shall not be included; "(I) untaxed Social Security benefits, including supplemental security income which individuals receive for themselves and for children under age 18; "(J) interest on teix free bonds; "(K) housing, food, and other living allowances, excluding rent subsidies for low-income housing, paid to members of the military, the clergy, and others; and "(L) Job Training Partnership Act noneducational bene- 29 USC 1501 fits.

"(16)(A) The term 'unusual medical and dental expenses' means an amount equal to the amount by which the sum of unreimbursed medical and dental expenses exceeds 20 percent of the effective family income of the parents. The expenses of both parents are included only if the income of both parents is included in determining effective family income. A stepparent's expenses are included only if the parent's income is included in determining effective family income.

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