Resource eligibility standards.

CFR · 2024-01-01 · US · Title 7

(a) (b) (1) Beginning October 1, 2008, and each October 1 thereafter, the maximum allowable financial resources shall be adjusted and rounded down to the nearest $250 to reflect changes in the Consumer Price Index for the All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor (for the 12-month period ending the preceding June). (2) Each adjustment shall be based on the unrounded amount for the prior 12-month period. (c) (1) Liquid resources, such as cash on hand, money in checking and savings accounts, saving certificates, stocks or bonds, and lump sum payments as specified in § 273.9(c)(8); and (2) Nonliquid resources, personal property, licensed and unlicensed vehicles, buildings, land, recreational properties, and any other property, provided that these resources are not specifically excluded under paragraph (e) of this section. The value of nonexempt resources, except for licensed vehicles as specified in paragraph (f) of this section, shall be its equity value. The equity value is the fair market value less encumbrances. (3) For a household containing a sponsored alien, the State agency must deem the resources of the sponsor and the sponsor's spouse in accordance with § 273.4(c)(2). (d) (1) The resources are jointly owned by such persons and by members of their former household; and (2) The shelter resident's access to the value of the resources is dependent on the agreement of a joint owner who still resides in the former household. (

official document · source cfr-2024 · id 7:§ 273.8