Page:United States Statutes at Large Volume 106 Part 1.djvu/632

 106 STAT. 600 PUBLIC LAW 102-325—JULY 23, 1992 "(5) EMPLOYMENT EXPENSE ALLOWANCE.— The employment e^ense allowance is determined as follows (or a successor table prescribed by the Secretary under section 478): "(A) If the student is married and the student's spouse is employed in the year for which their income is reported, such allowance is equal to the lesser of $2,500 or 35 percent of the earned income of the student or spouse with the lesser earned income. "(B) If a student qualifies as a surviving spouse or as a head of household as defined in section 2 of the Internal ' Revenue Code, such allowance is equal to the lesser of $2,500 or 35 percent of the student's earned income. "(c) FAMILY'S CONTRIBUTION FROM ASSETS.— "(1) IN GENERAL. — The famil5r's contribution from assets is equal to— "(A) the family net worth (determined in accordance with paragraph (2)); minus "(B) the asset protection allowance (determined in accordance with paragraph (3)); multiplied by "(C) the asset conversion rate (determined in accordance with paragraph (4)), except that the result shall not be less than zero. "(2) FAMILY NET WORT^.— The family net worth is calculated by adding— "(A) the current balance of checking and savings accounts and cash on hand; \. "(B) the net value of investments and real estate, excluding the net value in the principsu^lace of residence; and (C) the adjusted net worth of a business or farm, computed on the basis of the net worth of such business or farm (hereafter referred to as 'NW), determined in accordance with the following table (or a successor table prescribed by the i^ecretary under section 478), except as provided under section 480(f): "Adjusted Net Worth of a Business or Farm If^e net worth ofa_business or farm Then the adjusted net worth is- Less than $1 $0 $l-$75,000 40 percent of NW $75,001-$225,000 $30,000 plus 50 percent of NW over $75,000 $225,001-$375,000 $105,000 plus 60 percent of NW over $225,000 $375,001 or more $195,000 plus 100 percent of NW over $375,000 "(3) ASSET PROTECTION ALLOWANCE.— The asset protection^ allowance is calculated according to the following table (or a successor table prescribed by the Secretary under section 478):

�