Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.16 - Municipal Bonds
Universal Citation: MS Code of Rules 23-103-4.16
Current through September 24, 2024
A. General.
1. Municipal bonds are to city, county and
state governments what corporate bonds are to corporations.
2. Most municipal bonds are of two types:
a) General Obligation Bonds are backed by the
full faith and credit of the issuing municipality and supported by the taxing
power; and
b) Revenue Bonds are
backed by the project being financed and the revenue or user fees it
generates.
c) Other types of
municipals are limited-tax bonds, anticipation notes, industrial development
bonds and life-care bonds.
B. Treatment.
1. Ownership is determined by the receipt of
purchase.
2. The bond value is
obtained from the issuer, i.e, broker, securities dealer, etc., and is a
countable resource.
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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