STATE OF NEW YORK
________________________________________________________________________
4892
2017-2018 Regular Sessions
IN ASSEMBLY
February 6, 2017
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Social Services
AN ACT to amend the social services law, in relation to exempting IRAs
and Roth IRAs 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.
LBD02016-02-7
A. 4892 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) Individual Retirement Accounts (IRAs),
13 and Roth IRAs. If federal law or regulations require the exemption or
14 disregard of additional income and resources in determining need for
15 family assistance, or medical assistance not exempted or disregarded
16 pursuant to any other provision of this chapter, the department may, by
17 regulations subject to the approval of the director of the budget,
18 require social services officials to exempt or disregard such income and
19 resources. Refunds resulting from earned income tax credits shall be
20 disregarded in public assistance programs.
21 § 2. This act shall take effect immediately; provided, however, that
22 the amendments to section 131-n of the social services law made by
23 section one of this act shall not affect the expiration of such section
24 and shall be deemed to expire therewith.
