EXCLUSION FROM RESOURCES OF ALL INCOME-PRODUCING PROPERTY.

SEC. 8014. EXCLUSION FROM RESOURCES OF ALL INCOME-PRODUCING PROPERTY. (a) In General.—Section 1613(a)(3) (42 U.S.C. 1382b(a)(3)) is amended to read as follows: “(3) other property which is so essential to the means of self-support of such individual (and such spouse) as to warrant its exclusion, as determined in accordance with and subject to limitations prescribed by the Secretary, except that the Secretary shall not establish a limitation on property (including the tools of a tradesperson and the machinery and livestock of a farmer) that is used in a trade or business or by such individual as an employee;”. (b) Effective Date.—The amendment made by subsection (a) shall take effect on the 1st day of the 5th calendar month beginning after the date of the enactment of this Act.