Section 17-675-58 - Evaluation of non-income producing licensed motor vehicles in the food stamp program(a) All licensed vehicles, except boats, not excluded under section 17-675-57 shall individually be evaluated for fair market value, as discussed in subsection (d). That portion of the value of an individual vehicle which exceeds $4,650 shall be attributed in full toward the household's resource level, regardless of any encumbrances on the vehicle, unless the vehicle has both fair market value and equity value. The value of two or more vehicles shall not be added together to obtain a total fair market value in excess of $4,650. For example, a household may own a car with a fair market value of $5,500. Since the value of the car is in excess of $4,650, the amount in excess, $850, shall be added to the household's resource level. A household may own two cars and no other resource. One car has a fair market value of $3,000 and the other $4,000. If both cars are exempt for equity value, then the household has no resource according to the fair market value test.(b) All non-income producing licensed vehicles shall be individually evaluated for the equity value except for the vehicles exempted in section 17-675-57.(c) If a licensed vehicle is assigned both a fair market value in excess of $4,650, as in subsection (a), and an equity value, only the greater of the two amounts shall be counted as a resource. For example, a household has two cars. The second car is not used for commuting to work. The fair market value is $5,000 and the household has paid $1,000 on the loan. The excess fair market value is $450 and the equity value is $1,000. The $1,000 which is the greater of the two shall be counted towards the household's resource level and the $450 excess fair market value shall not be counted.(d) The fair market value of licensed automobiles, trucks, and vans shall be determined by the wholesale value of those vehicles as listed in publications written for the purpose of providing guidance to automobile dealers and loan companies. Publications listing the value of vehicles are usually referred to as "blue books." The blue book shall be used and updated every six months.
(1) The branch shall assign the wholesale value to vehicles. If the term "wholesale value" is not used in a particular blue book, the branch shall assign the listed value which is comparable to the wholesale value. The basic value of a vehicle shall not be increased by adding the low mileage, or other factors such as optional equipment. A household may indicate that for some reason, such as body damge or inoperability, a vehicle is in less than average condition. Any household which claims that the blue book value does not apply to its vehicle shall be given the opportunity to acquire verification of the true value from a reliable source such as a used car dealer.(2) Households shall be asked to acquire verification of the value of licensed antique, custom made, or classic vehicles, if the branch is unable to make an accurate appraisal.(3) If a vehicle is specially equipped with apparatus for the handicapped, the apparatus shall not increase the value of the vehicle. The blue book value shall be assigned as if the vehicle was not so equipped.(4) If a vehicle is no longer listed in the blue book, the household's estimate of the value of the vehicle shall be accepted, unless the branch has reason to believe that the estimate is incorrect. If it appears that the vehicle's value will affect eligibility, the household shall obtain an appraisal or produce other evidence of its value, such as a tax assessment or a newspaper advertisement indicating the sale price of similar vehicles.(5) If a new vehicle is not yet listed in the blue book, the branch shall determine the wholesale value through some other means such as contacting a new car dealer which sells that make of vehicle.[Eff 3/19/93; am 8/18/94; am 4/1/96; am 10/28/96] (Auth: HRS § 346-14) (Imp: 7 C.F.R. §273.8(g) and (h); Pub. L. No. 104-193 (1996))