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SNAP CERTIFICATION MANUAL – SECTION 4000 3B4400 Excluded Resources 18B4460 Other Excluded Resources

Educational Income Educational income will be excluded as a resource in its entirety when received by eligible students. This exclusion includes all federal, state and privately funded educational assistance including VA educational assistance paid under the Montgomery GI Bill. Educational Savings Educational savings/account plans that receive tax-preferred status under the federal tax code are excluded as a resource to the household. • Section 529 qualified tuition program, which allows owners to prepay a student’s education expenses or to contribute to an account to pay those expenses. • Coverdell education savings account, an IRA type of account designed to pay a student’s education expenses. Indian Lands Lands held jointly with the tribe, or lands that can be sold only with the approval of the Bureau of Indian Affairs are considered Indian Lands. Indian Lands are excluded as a resource. Individual Development Accounts Funds, including interest accruing, in an individual development account under the TANF block grant program will be excluded during any period the individual maintains or makes contributions into such an account (P.L. 104-193). Under the Family Savings Initiative Act of 1999 (Arkansas Act 1217) households with low income and few assets may accumulate assets by opening an individual development account (IDA). An IDA Program participant must be a resident of the State of Arkansas and a member of a TEA recipient family or a member of a family with income below 185% of the federal poverty level. The family must have a net worth of $10,000 or less disregarding their primary dwelling and one motor vehicle. Account contributions are matched at a rate of $3.00 for each $1.00 contributed by the account holder. Matching dollars may not exceed $2,000 per account holder or $4,000 per household. A Family Savings IDA may be used for any of the following reasons: • Home purchase (limited to qualified first-time home buyers) * • Business capitalization* • Post-secondary educational expenses* • Individual retirement account • Vehicle purchase or repair (if not the sole purpose of the IDA)