Current through Register Vol. 35, No. 18, September 24, 2024
A. Liquid
resources: Liquid resources are readily negotiable resources such as, but not
limited to:
(1) cash on hand;
(2) money in checking and saving
accounts;
(3) savings certificates,
stocks and bonds (even if they are producing income consistent with their fair
market value), credit union shares, promissory notes, U.S. savings bonds (after
they become accessible six months from the date of purchase);
(4) loans, including loans from private
individuals as well as from commercial institutions, are considered in the
month received.
B.
Lump-sum payments: Money received in the form of a nonrecurring lump sum
payment is counted as a resource in the month received, unless specifically
excluded by other federal laws.
(1) Lump sum
payments include, but are not limited to:
(a)
income tax refunds, rebates, or credits, including earned income tax credit
payments after two months;
(b)
retroactive lump sum social security, SSI, cash assistance, railroad retirement
benefits or similar payments;
(c)
lump sum insurance settlements;
(d)
refunds of security deposits on rental property or utilities;
(e) substantial lottery or gambling winnings.
(2) Lump sum payments
are delayed payments owed to a household for past periods.
C. Other liquid resources: Liquid resources
also include:
(1) funds held in individual
retirement accounts (IRAs), and
(2)
funds held in Keogh plans that do not involve a household member in a
contractual relationship with individuals who are not household members; in
determining the availability of IRAs or Keogh plans, the caseworker shall count
the total cash value minus the amount of the penalty (if any) for early
withdrawal of the entire amount.
D. Non-liquid resources: Non-liquid resources
include personal property, boats, buildings, land, recreational property, and
any other property, provided that the resource is not specifically excluded.
Non-liquid resources shall be documented in sufficient detail to permit
verification if the resource becomes questionable.
E. Vehicles: The entire value of any licensed
or unlicensed vehicle shall be excluded in determining eligibility and benefit
amount in the food stamp program.
