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All non-exempt licensed vehicles which are not used for transportation shall be assigned both a fair market value in excess of $4650 and an equity value. Equity value is fair market value (FMV) minus any liens. The greater of the two amounts is counted as a resource. 2615.60.10.10

UNLICENSED VEHICLES (S)

An unlicensed vehicle which is not exempt is to be evaluated for equity value. The equity value is counted toward the AG's resource level. 2615.60.15 TREATMENT OF VEHICLES (C)

Each AG is allowed an exclusion of $10,000 of the equity in one vehicle until 6/30/2022. (f15) Equity is the vehicle's fair market value less any liens.

If more than one vehicle is owned, the equity in each vehicle is to be determined. Since the $10,000 disregard can be applied to only one vehicle, it is to be applied to the vehicle with the highest equity value. No amount is excluded from the equity value of the remaining vehicle even if the value of the first vehicle is less than the $10,000 disregard.

Effective 7/1/2022, each AG will be allowed an exclusion of $20,000 of total equity value in motor vehicles that belong to one or more members of a child’s family. 2615.60.25 RECREATIONAL VEHICLES AND EQUIPMENT

Recreational vehicles such as campers, trailers, and boats must be counted according to their current equity value.

If the recreational or other vehicle serves as the AG's home, it should be evaluated according to the guidelines in Sections 2620.15.05 and 2620.15.10. 2615.65.00 NON-RECURRING LUMP SUM PAYMENTS

A lump sum payment may include retroactive benefits such as SSI, Social Security, and VA benefits. A lump sum may also be a refund of Medicare Part B premiums, an insurance settlement, an inheritance, or other such nonrecurring payment.

For TANF (f16) and SNAP eligibility purposes, lump sum payments are considered resources except for certain recurring lump sum payments. (See Section 2880.05.00 for income policy.) 2615.65.05 LUMP SUM PAYMENTS

Non-recurring lump sum payments are considered resources. Non-recurring lump sum payments are counted as resources starting in the month received, unless specifically excluded from