Page:United States Statutes at Large Volume 100 Part 2.djvu/369

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1471

"(c) ADJUSTED N E T WORTH OF A FARM OR BUSINESS.—For each academic year after academic year 1987-1988, the Secretary shall publish in the Federal Register a revised table of adjusted net worth of a farm or business for the purpose of sections 475(d)(2)(C), 476(c)(2)(C), and 477(c)(2)(C). Such revised table shall be developed— "(1) by increasing each dollar amount that refers to net worth of a farm or business by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary after consultation with the Advisory Committee on Student Financial Assistance) between 1986 and the December next preceding the beginning of such academic year, and rounding the result to the nearest $5,000; and "(2) by adjusting the dollar amounts '$26,000', '$91,000', and '$169,000' to reflect the changes made pursuant to paragraph (1). "(d) ASSET PROTECTION ALLOWANCE.—For each academic year after academic year 1987-1988, the Secretary shall publish in the Federal Register a revised table of asset protection allowances for purposes of sections 475(d)(3), 476(c)(3), and 477(c)(3). Such revised table shall be developed by determining the present value cost of an annuity that would provide, for each age cohort, a supplemental income at age 65 (adjusted for inflation) equal to the difference between the moderate family income (as most recently determined by the Bureau of Labor Statistics) and the current average social security retirement benefits. In making such determinations— "(1) inflation shall be presumed to be 6 percent per year; "(2) the rate of return of an annuity shall be presumed to be 8 percent; and "(3) the sales commission on an annuity shall be presumed to be 6 percent. "(e) ASSESSMENT SCHEDULES AND RATES.—(1) For each academic year after academic year 1987-1988, the Secretary shall publish in the Federal Register a revised table of assessments from adjusted available income for the purpose of sections 475(e) and 477(d). Such revised table shall be developed— "(A) by increasing each dollar amount that refers to adjusted available income by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary after consultation with the Advisory Committee on Student Financial Assistance) between December 1986 and the December next preceding the beginning of such academic year, rounded to the nearest $100; and "(B) by adjusting the other dollar amounts to reflect the changes made pursuant to subparagraph (A). "(2) For each academic year after academic year 1987-1988, the assessments made pursuant to section 476(b)(4) shall be made— "(A) by increasing each dollar amount that refers to adjusted available income by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary after consultation with the Advisory Committee on Student Financial Assistance) between December 1986 and the December next preceding the beginning of such academic year, rounded to the nearest $100; and "(B) by adjusting the other dollar amount to reflect the changes made pursuant to subparagraph (A). The Secretary shall publish in the Federal Register the adjustments required to carry out this paragraph.

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