Bill Text: NY S05402 | 2019-2020 | General Assembly | Introduced

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Bill Title: Exempts certain funds in NY ABLE savings accounts from the calculation of household benefits under public assistance programs.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2019-10-03 - SIGNED CHAP.329 [S05402 Detail]

Download: New_York-2019-S05402-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5402
                               2019-2020 Regular Sessions
                    IN SENATE
                                     April 29, 2019
                                       ___________
        Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
          printed to be committed to the Committee on Social Services
        AN ACT to amend the  social  services  law,  in  relation  to  exempting
          certain  funds  in  a  NY  ABLE  savings account in the calculation of
          household benefits under public assistance programs
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subdivision 1 of section 131-n of the social services law,
     2  as amended by section 1 of part X of chapter 54 of the laws of 2016,  is
     3  amended to read as follows:
     4    1.  The  following resources shall be exempt and disregarded in calcu-
     5  lating the amount of benefits of any household under any public  assist-
     6  ance program: (a) cash and liquid or nonliquid resources up to two thou-
     7  sand  dollars,  or  three  thousand dollars in the case of households in
     8  which any member is sixty years of age or older, (b)  an  amount  up  to
     9  four  thousand  six  hundred  fifty  dollars  in a separate bank account
    10  established by an individual while currently in  receipt  of  assistance
    11  for  the  sole purpose of enabling the individual to purchase a first or
    12  replacement vehicle for  the  recipient  to  seek,  obtain  or  maintain
    13  employment, so long as the funds are not used for any other purpose, (c)
    14  an  amount  up  to  one thousand four hundred dollars in a separate bank
    15  account established by an  individual  while  currently  in  receipt  of
    16  assistance  for the purpose of paying tuition at a two-year or four-year
    17  accredited post-secondary educational institution, so long as the  funds
    18  are  not  used  for  any  other purpose, (d) the home which is the usual
    19  residence of the household, (e)  one  automobile,  up  to  ten  thousand
    20  dollars  fair  market  value,  through  March thirty-first, two thousand
    21  seventeen; one automobile, up to eleven  thousand  dollars  fair  market
    22  value,  from  April  first, two thousand seventeen through March thirty-
    23  first, two thousand eighteen; and one automobile, up to twelve  thousand
    24  dollars  fair market value, beginning April first, two thousand eighteen
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11381-01-9
        S. 5402                             2
     1  and thereafter, or such other higher dollar value as  the  local  social
     2  services  district may elect to adopt, (f) one burial plot per household
     3  member as defined in  department  regulations,  (g)  bona  fide  funeral
     4  agreements  up to a total of one thousand five hundred dollars in equity
     5  value per household member,  (h)  funds  in  an  individual  development
     6  account established in accordance with subdivision five of section three
     7  hundred  fifty-eight  of  this chapter and section four hundred three of
     8  the social security act [and], (i) for a  period  of  six  months,  real
     9  property  which  the household is making a good faith effort to sell, in
    10  accordance with department regulations and  tangible  personal  property
    11  necessary  for  business  or  for employment purposes in accordance with
    12  department regulations, and (j) funds in a New York achieving  a  better
    13  life  experience  savings account established in accordance with article
    14  eighty-four of the mental hygiene law.   If federal law  or  regulations
    15  require the exemption or disregard of additional income and resources in
    16  determining  need  for  family  assistance,  or  medical  assistance not
    17  exempted or disregarded pursuant to any other provision of this chapter,
    18  the department may, by regulations subject to the approval of the direc-
    19  tor of the budget, require social services officials to exempt or disre-
    20  gard such income and resources. Refunds resulting from earned income tax
    21  credits shall be disregarded in public assistance programs.
    22    § 2. This act shall take effect immediately; provided,  however,  that
    23  the  amendments  to  section  131-n  of  the social services law made by
    24  section one of this act shall not affect the expiration of such  section
    25  and shall be deemed to expire therewith.