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Authority: AS 47.05.010 AS 47.25.120 AS 47.25.130 7 AAC 47.350. Resources. (a) Subject to allowable exclusions, to be eligible for assistance under 7 AAC 47.300 — 7 AAC 47.535, the total resources of an individual described in 7 AAC 47.330 may not exceed

(1) $2,000 for the individual; or

(2) $3,000 for an individual living with a spouse, regardless of whether the spouse is eligible for assistance under 7 AAC 47.300 — 7 AAC 47.535. (b) If an individual has nonexcludable resources that do not exceed the applicable resource limit at any time on the first day of a calendar month, the applicant is considered to meet the resource requirement for that month. (c) To determine an individual’s total resources, the department will apply the provisions of

(1) 7 AAC 47.355, dealing with excluded resources; and

(2) 7 AAC 47.357, dealing with the disposal of excess resources. (d) Any cash or other property received from the sale, exchange, or other disposition of a resource retains the character of a resource. (Eff. 11/23/80, Register 76; am 6/28/2002, Register 162; am 7/17/2024, Register 251) Statutory Authority: Authority: AS 47.05.010 AS 47.25.120 AS 47.25.130 7 AAC 47.355. Resource exclusions. (a) Certain types of resources, excluded under the APA program in 7 AAC 40, are also excluded under this chapter in determining the resources of an individual described in 7 AAC