Disregarded income is also disregarded as a resource unless there is regulation stating otherwise. See 469 NAC 2-010.01H for the listing of income treatment. In addition, the following resources are excluded in making a determination of eligibility:
1. Real property which the individual owns and occupies as a home;
2. Household goods and personal effects of a moderate value used in the home;
3. Cash surrender value of life insurance policies with combined face values of $1,500 or less per individual (see 469 NAC 2-009.07A4);
4. A specified maximum in proceeds from an insurance policy irrevocably assigned for the purpose of burial of the client (see 469 NAC 2-009.07A3b);
5. Irrevocable burial trusts up to the specified amount per individual and the interest if irrevocable (see 469 NAC 2-009.07A3);
6. Burial space items or a contract for the purchase of burial space items owned by a client or designated family member (see 469 NAC 2-009.07A3(d)(1));
7. Burial spaces (see 469 NAC 2-009.07A3d);
8. Up to $1,500 set aside for burial arrangements (see 469 NAC 2-009.07A3c);
9. One motor vehicle if it is used for employment, medical transportation, or as the client's home. If the client has more than one motor vehicle, s/he may designate the vehicle to be excluded (see 469 NAC 2-009.07B7).
10. Certain trusts (including guardianships). The person(s) in whose behalf the trust is established may be ineligible but this may not affect eligibility of the other person(s) in the unit (see 469 NAC 2-009.07A6).
11. Certain life estates in real property (see 469 NAC 2-009.07B8);
12. Income received annually, semi-annually, or quarterly which is prorated on a monthly basis and included in the budget. This income is excluded as a resource over the period of time it is being considered as income;
13. The unspent portion of any RSDI or SSI retroactive payments (excluded for six months following the month of receipt);
14. U.S. savings bonds (excluded for the initial six-month mandatory retention period);
15. A resource used in the client's trade or business (see 469 NAC 2-009.07B11);
16. A maximum of $6,000 equity value of nonbusiness property (real or personal) that is used to produce goods or services essential to daily activities (see 469 NAC 2-009.07B11a);
17. The unspent portion of an AABD or SDP retroactive payment (excluded for six months following the month of receipt);
18. Victims compensation payments, i.e., payments received from a state or local government to aid victims of crime (excluded for nine months beginning with the first month after receipt);
19. Payments received from a state or local government to assist in relocation (excluded for nine months beginning with the first month after receipt);
20. An unavailable job-related retirement account that is held by the employer; and
21. An Individual Development Account (an account set up for postsecondary education or purchase of a client’s first home); and
22. Medicare Set-aside accounts that may be used only for payment of medical bills of Medicare beneficiaries.
The worth of resources, both available and excluded, is determined on the basis of their equity.
For any of these funds to be excluded as a resource, they must be segregated in a separate account so that they can be identified. If the funds are not in a separate account, the worker shall allow the client 30 days from notification of the requirement to set up a new account. After 30 days the resource is included in the resource limit if the client fails to segregate the funds. If this makes the client ineligible for a grant and the client subsequently segregates the funds, the worker shall determine eligibility for a grant for the month of segregation.
Several excludable resources may be combined in a single account.
(5/26/12)