Oregon Administrative Rules
Chapter 461 - DEPARTMENT OF HUMAN SERVICES, SELF-SUFFICIENCY PROGRAMS
Division 145 - TREATMENTS OF SPECIFIC ASSETS
Section 461-145-0108 - Dividends, Interest and Royalties
Universal Citation: OR Admin Rules 461-145-0108
Current through Register Vol. 63, No. 9, September 1, 2024
(1) In the OSIP, OSIPM, and QMB programs:
(a) Unless otherwise stated in chapter 461 of
the Oregon Administrative Rules, dividends and interest earned on mutual funds
and securities, including stocks, bonds, educational savings bonds, and
certificates of deposit (CDs), are excluded as income. Interest earned on other
assets is treated according to the rule for that asset.
(b) Royalties include compensation paid to
the owner for the use of property, usually copyrighted material or natural
resources, such as coal, oil, or natural gas, which normally are extracted from
the ground. Except as provided in paragraphs (A) and (B) of this subsection,
royalties are treated as unearned income.
(A)
For an individual who is actively working in the trade or business that
generates the royalties:
(i) Income is
treated as self-employment if self-employment criteria are met (see OAR
461-145-0915 regarding
self-employment criteria).
(ii)
Income that does not meet self-employment criteria is counted as earned income.
(B) Royalties received
by an individual in connection with any publication of the individual's work
are treated as earned income (see OAR
461-145-0130).
(2) In all programs except the OSIP, OSIPM, and QMB programs:
(a)
Dividends are counted as unearned income.
(b) Interest income is counted as unearned
income.
(c) Royalties are counted
as unearned income, except that royalties are counted as earned income if the
client is actively engaged in the activity from which the royalties are
accrued.
Statutory/Other Authority: ORS 411.060, 411.070, 411.816, 414.042 & 412.049
Statutes/Other Implemented: ORS 411.060, 411.070, 411.816, 414.042 & 412.049
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