Section 15-193-63 - Determining net earned incomeThe net earned income for a tenant family shall be determined by the following process:
1. From the gross annual earned income of each adult household member, deduct a standard deduction of twenty per cent; and if applicable,2. After the twenty per cent standard deduction, deduct from the remainder an education credit for a household member that is a full-time student seeking a post-secondary education. The education credit, which is provided for a tenant family and not individual family members, is calculated as: A. The actual amount received from scholarship(s) to attain a post-secondary education degree; orB. One thousand dollars ($1,000) per year; whichever is less.[Eff DEC 13 2001] (Auth: HRS § 201G-4) (Imp: HRS §§ 201G-42, 201G-43)