New Mexico Register / Volume XXIX, Issue 2 / January 30, 2018
This is an amendment to 8.139.510 NMAC, Sections 5 and 8, effective 2/01/2018.
8.139.510.5 EFFECTIVE DATE: February 1, 1995, unless a later date is cited at the end of a section.
[02/01/95; 8.139.510.5 NMAC - Rn, 8 NMAC 3.FSP.000.5, 05/15/2001; A/E, 10/01/2017; A, 2/01/2018]
8.139.510.8 RESOURCE ELIGIBILITY STANDARDS:
A. [The
maximum allowable resources, including both liquid and non-liquid assets, of
all members of a household cannot exceed:] The maximum allowable
resources for a household, including both liquid and non-liquid assets are
revised and adjusted each year in October and can be found at https://www.fns.usda.gov/snap/cost-living-adjustment-cola-information.
[ (1) $2,250;
or
(2) $3,250
for households consisting of or including a member who is elderly or disabled
as defined at Paragraph (28) of Subsection A of 8.139.100.7 NMAC.]
B. The value of a nonexempt resource is its equity value. Equity value is the fair market value less encumbrances. The value of stocks and bonds, such as U.S. savings bonds, is their cash value, not their face value.
C. It is a household's responsibility to report all resources held at the time of application and any anticipated to be received, or that are later received during the certification period, that might place the household's resources above the maximum allowed.
D. Categorically eligible households: Households that are categorically eligible do not need to meet the resource limits or provisions of this section.
E. Sponsored aliens: For households containing sponsored aliens, a prorated amount of the countable resources of an alien’s sponsor and sponsor’s spouse (if living with the sponsor) are deemed to be those of the sponsored alien, in accordance with sponsored alien provisions in 8.139.420.9 NMAC.
F. Non-household members: The resources of non-household members, defined in 8.139.400.10 NMAC shall not be considered available to the household.
G. Resources of ineligible or disqualified household members: The resources of ineligible or disqualified household members shall be counted as available to the household in their entirety. If a resource exclusion applies to a household member, the exclusion shall also apply to the resources of an ineligible or disqualified person whose resources are counted as available to the household.
[02/01/95, 07/01/97, 07/01/98, 06/01/99; 8.139.510.8 NMAC - Rn, 8 NMAC 3.FSP.510, 05/15/2001; A, 02/01/2002; A, 10/01/2002; A, 04/01/2010; A/E, 03/01/2015; A/E, 10/01/2017; A, 2/01/2018]