Section 15-216-32 - Income(a) The gross household income of the applicant shall not exceed one hundred forty per cent of the AMI as determined by the United States Department of Housing and Urban Development.(b) The gross household income shall be the income earned during the most current calendar year preceding the date of application to purchase or rent a reserved housing unit and shall be verified by submittal of most current State or Federal tax returns.(c) The assets of the applicant shall not exceed one hundred thirty-five per cent of the applicable income limit set forth in subsection (a) above. As used herein, assets include, all cash, securities and real and personal property at current fair market value, less any outstanding liabilities secured by such assets. [Eff OCT 27 2012] (Auth: HRS §§ 206E-4, 206E-5, 206E-7) (Imp: HRS §§ 206E-4, 206E-5, 206E-7)