us-la/manual/dcfs/economic-independence/b-1040-snap-types-of-resources-398828/page-1

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Division/Section Family Support Chapter No./Name 4 – Economic Stability (ES) Part No./Name B – Eligibility Factors Section No./Name B-1000-FITAP-SNAP Resources Document No./Name B-1040-SNAP Types Of Resources Effective Date October 1, 2024

1 of 7 I. STATEMENT OF POLICY

The following are countable resources:

• Cash,

• Checking accounts,

• Saving accounts, including money market accounts,

• Certificates of deposit (CDs),

• Stocks, including mutual funds,

• Bonds, and

• Credit card company gift cards, prepaid debit cards, and payroll deposit debit card accounts.

Note: Any exempt resource that is kept in a separate account remains exempt. If an exempt resource is combined with money which is countable, exempt the excluded funds for six months from the date the funds are combined. After six months, count the total amount of combined funds as an available resource.

Exception: Resources for individuals who are not traditional Categorically Eligible (Refer to policy at E-280-SNAP), must meet required resource limits (Refer to policy at B-1030-SNAP).

B-1040-1-SNAP - PO AGENT ORANGE SETTLEMENT PAYMENTS AS A RESOURCE

Exempt payments made from the Agent Orange Settlement Fund. This includes both disability payments made to veterans each year they are disabled and non-recurring lump-sum payments made to survivors of deceased veterans. This exclusion is retroactive to January 1, 1989.

B-1040-1-A SNAP – PO ACHIEVING A BETTER LIFE EXPERIENCE (ABLE)

Exempt the value of ABLE accounts. An ABLE account is a tax-favored savings account established to provide secure funding for disability-related expenses on behalf of designated beneficiaries deemed disabled before the age of 26 years old.

B-1040-2-SNAP - PO CERTIFICATES OF DEPOSIT

Count the value of Certificates of Deposit (CDs) as an available resource. If there is a penalty for early withdrawal, count the amount the client would receive if the CD is cashed in. If the CD is collateral for a loan, count the amount the client would receive after payoff of the loan.