New Mexico Administrative Code
Title 8 - SOCIAL SERVICES
Chapter 139 - FOOD STAMP PROGRAM
Part 510 - ELIGIBILITY POLICY - RESOURCES AND PROPERTY
Section 8.139.510.8 - RESOURCE ELIGIBILITY STANDARDS
Current through Register Vol. 35, No. 18, September 24, 2024
A. The maximum allowable resources for a household, including both liquid and non-liquid assets are revised and adjusted each year in October and can be found at https://www.fns.usda.gov/snap/cost-living-adjustment-cola-information.
B. The value of a nonexempt resource is its equity value. Equity value is the fair market value less encumbrances. The value of stocks and bonds, such as U.S. savings bonds, is their cash value, not their face value.
C. It is a household's responsibility to report all resources held at the time of application and any anticipated to be received, or that are later received during the certification period, that might place the household's resources above the maximum allowed.
D. Categorically eligible households: Households that are categorically eligible do not need to meet the resource limits or provisions of this section.
E. Sponsored non-citizens: For households containing sponsored non-citizens, a prorated amount of the countable resources of a non-citizen's sponsor and sponsor's spouse (if living with the sponsor) are deemed to be those of the sponsored non-citizen, in accordance with sponsored non-citizen provisions in 8.139.420.9 NMAC.
F. Non-household members: The resources of non-household members, defined in 8.139.400.10 NMAC shall not be considered available to the household.
G. Resources of ineligible or disqualified household members: The resources of ineligible or disqualified household members shall be counted as available to the household in their entirety. If a resource exclusion applies to a household member, the exclusion shall also apply to the resources of an ineligible or disqualified person whose resources are counted as available to the household.
