2.5 Income
Unless exempt from the income requirements, a child must reside with a family whose: • Annual gross family income does not exceed 300 percent of the federal poverty level (FPL) (for initial eligibility) or 85 percent of the SMI (at redetermination) for a family of the same size; and • Family assets (including cash, money in bank accounts, investments, and real estate) do not exceed $1,000,000. Applicants may meet this requirement through self-declaration.