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A04371 Summary:

BILL NOA04371
 
SAME ASSAME AS S09035
 
SPONSORTitus
 
COSPNSRWeprin, Gottfried
 
MLTSPNSR
 
Amd 131-n, Soc Serv L
 
Exempts certain funds in a qualified tuition program in the calculation of household benefits under public assistance programs.
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A04371 Actions:

BILL NOA04371
 
02/02/2017referred to social services
01/03/2018referred to social services
03/06/2018reported referred to ways and means
05/01/2018reported
05/03/2018advanced to third reading cal.832
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A04371 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A4371
 
SPONSOR: Titus
  TITLE OF BILL: An act to amend the social services law, in relation to exempting certain funds in a qualified tuition program in the calculation of household benefits under public assistance programs   PURPOSE OF BILL: This legislation will exempt or disregard funds in a qualified tuition program that satisfies the requirement of section 529 of the Internal Revenue Code of 1986, as amended, from assets limit tests to qualify for public assistance.   SUMMARY OF SPECIFIC PROVISIONS: Section 1. Subdivision 1 of section 131-n of the social services law, as amended by chapter 373 of the laws of 2003, paragraph (c) as amended by section 5 of part J of chapter 58 of the laws of 2014, is amended to include the exemption of funds in qualified tuition programs.   JUSTIFICATION: Currently New Yorkers who have more than $2,000 in assets are not eligi- ble to receive public assistance. A few of these assets as listed in New York Social services Law 131-n are excluded; such as refunds from the Earned Income tax credit and individual Development Accounts which aid families in saving money allowing them to work towards greater self-suf- ficiency. Currently 529 accounts which permit families to put aside money and invest in their children's future college educations are not included in these exemptions. Meaning if a family is able to put aside $2,000 to help send their children to college they can no longer receive public assistance, this puts these families at a grave disadvantage. A recent study showed that a mere 9% of students from low-income families obtain a bachelor's degree compared with 54% of students from wealthier families. New York's low-income families need support and assistance so that they may develop college savings for their children. In order to help these families obtain The American dream and aid their children in attending college Social Services Law 131-n desperately needs to be amended to exempt 529 accounts to help these New York families.   FISCAL IMPLICATIONS: To be determined.   LEGISLATIVE HISTORY: A3156 (2015-2016) referred to social services   EFFECTIVE DATE: This act shall take effect immediately; provided, however, that the amendments to section 131-n of the social services law made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.
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A04371 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4371
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 2, 2017
                                       ___________
 
        Introduced  by M. of A. TITUS -- read once and referred to the Committee
          on Social Services
 
        AN ACT to amend the  social  services  law,  in  relation  to  exempting
          certain  funds  in  a  qualified tuition program 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.
                                                                   LBD01980-01-7

        A. 4371                             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  qualified  tuition  program
    13  that  satisfies  the  requirement of section 529 of the Internal Revenue
    14  Code of 1986, as amended. If federal  law  or  regulations  require  the
    15  exemption or disregard of additional income and resources in determining
    16  need for family assistance, or medical assistance not exempted or disre-
    17  garded  pursuant  to any other provision of this chapter, the department
    18  may, by regulations subject to the approval of the director of the budg-
    19  et, require social services officials to exempt or disregard such income
    20  and resources. Refunds resulting from earned income tax credits shall be
    21  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.
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