Alaska Administrative Code › Title 7 - Health and Social Services › Part 3 - Public Assistance and Medical Assistance › Chapter 40 - Adult Public Assistance › 7 AAC 40.280 - Resource exclusions

Current through May 31, 2024
(a) The following resources are excluded in
				determining the resources of an applicant, together with resources of the
				applicant's spouse under
				7 AAC 40.240:
(1) the
				home of an applicant if used as his principal place of residence, all land
				contiguous to it, and all outbuildings necessary for operation of the
				home;
(2) household goods and
				personal effects having an equity value of $2,000 or less, one wedding ring,
				one engagement ring, and any household goods or personal effects the retention
				of which is necessitated by an applicant's physical condition, such as a
				prosthetic device or hospital bed;
(3) one motor vehicle regardless of value if
				the motor vehicle is used by the applicant or a member of his family for
				employment or for obtaining regular medical treatment or if the vehicle has
				been modified for use by a person with a disability; any other motor vehicle is
				excluded to the extent that its retail market value does not exceed
				$4,500;
(4) property necessary for
				the self-support of an applicant, including real or personal property used in a
				trade or business, if the property is producing income consistent with its
				value;
(5) property of a blind or
				disabled applicant needed to fulfill a plan for achieving self-support that has
				been approved by the Social Security Administration or by the division of
				vocational rehabilitation;
(6)
				stock held by an Alaska Native in a regional or village corporation under the
				Alaska Native Claims Settlement Act (43 U.S.C.
				1606 and
				1607);
(7) term insurance and burial insurance
				without regard to value and life insurance if the face value of life insurance
				policies on an individual does not exceed $1,500; if the face value of life
				insurance exceeds $1,500, its cash surrender value is a resource;
(8) cash received from an insurance company
				to replace or repair an excluded resource if used for repair or replacement
				within three months of receipt in the case of personal property and within six
				months in the case of real property;
(9) allotted lands held by an applicant who
				is of Indian descent from a federally recognized Indian tribe if the land
				cannot be alienated without the permission of the tribe or the federal
				government;
(10) payments made
				under Title II of the Uniform Relocation Assistance and Real Property
				Acquisition Act of 1970  (42
				U.S.C. 4636);
(11) payments to members of the Blackfeet and
				Gros Ventre tribes under Public Law 92-254 (25 U.S.C.
				1264)  and Indian per-capita payments made
				under Public Law 93-134  (25
				U.S.C. 1407)  to the extent excluded by
				20 C.F.R.
				416.1236;
(12) the value of the food stamp allotment
				provided under 7 U.S.C.
				2011 -
				2036 (Food Stamp Program); the
				value of assistance provided under
				42 U.S.C.
				1751 -
				1769 h (School Lunch Programs);
				the value of assistance provided under
				42 U.S.C.
				1771 -
				1791 (Child Nutrition); and the
				value of federally donated foods distributed under  7 C.F.R. Part 250  and Part
				251, sec. 32 of Public Law 74-320, or
				7 U.S.C.
				1431 sec. 416 of the Agriculture Act of
				1949);
(13) any grant or loan to an
				undergraduate student for educational purposes made or insured by the
				Commissioner of Education under Public Law 90-575 (20 U.S.C.
				1070 -
				1089);
(14) payments to volunteers under
				42 U.S.C.
				4950 -
				5085 (Domestic Volunteer
				Services);
(15) in accordance with
				43 U.S.C.
				1626(c), distributions
				received by an individual Alaska Native or descendant of an Alaska Native from
				a Native corporation formed under the Alaska Native Claims Settlement Act as
				follows:
(A) cash, including cash dividends
				on stock received from a Native corporation, is disregarded to the extent that
				it does not, in the aggregate, exceed $2,000 per individual each year; the
				$2,000 limit is applied separately each year, and cash distributions up to
				$2,000 that an individual received in a prior year and retains in subsequent
				years will not be counted as a resource in those years;
(B) stock, including stock issued or
				distributed by a Native corporation as a dividend or distribution on
				stock;
(C) a partnership
				interest;
(D) land or an interest
				in land, including land or an interest in land received from a Native
				corporation as a dividend or distribution on stock;
(E) an interest in a settlement
				trust;
(16) the value of
				any assistance paid with respect to a dwelling unit under the United States
				Housing Act of 1937, the National Housing Act, sec. 101 of the Housing and
				Urban Development Act of 1965, or Title V of the Housing Act of 1949 as
				provided in 42 U.S.C.
				1382 a(b)(14) and 1382b(a)(8); and
(17) the value of a limited entry fishing
				permit if the holder of the permit uses the permit to produce income; if it is
				not used to produce income or is for sale, the fair market value less any
				amount owed by the holder is included as a resource.