009.03(B) EXCLUDED RESOURCES.

Disregarded income is also disregarded as a resource unless there is regulation stating otherwise. Additionally, the following resources are excluded: (i) Real property which the individual owns and occupies as a home; (ii) Household goods and personal effects of a moderate value used in the home; (iii) Cash surrender value of life insurance policies with combined face values of $1,500 or less per individual; (iv) A specified maximum in proceeds from an insurance policy irrevocably assigned for the purpose of burial of the applicant or recipient; (v) Irrevocable burial trusts up to the specified amount per individual and the interest if irrevocable; (vi) Burial space items or a contract for the purchase of burial space items owned by an applicant or recipient or designated family member; (vii) Burial space; (viii) Up to $1,500 set aside for burial arrangements; (ix) One motor vehicle if it is used for employment, medical transportation, or as the applicant or recipient's home. If the individual has more than one motor vehicle, the individual may designate the vehicle to be excluded; (x) Certain trusts, including guardianships, where the person in whose behalf the trust is established may be ineligible but this may not affect eligibility of the other person in the household unit; (xi) Certain life estates in real property; (xii) Income received annually, semi-annually, or quarterly which is prorated on a monthly basis and included in the budget, during the period of time it is being considered as income; (xiii) The unspent portion of any Retirement, Survivors, Disability Insurance or Supplemental Security Income retroactive payments for six months following the month of receipt; (xiv) U.S. savings bonds, for the initial six-month mandatory retention period; (xv) A resource used in the recipient's trade or business; (xvi) A maximum of $6,000 equity value of nonbusiness property, real or personal, that is used to produce goods or services essential to daily activities; (xvii) The unspent portion of an Aged, Blind, or Disabled or State Disability Program retroactive payment for six months following the month of receipt; (xviii) Victims compensation payments, such as payments received from a state or local government to aid victims of crime. These are excluded for nine months beginning with the first month after receipt; (xix) Payments received from a state or local government to assist in relocation, excluded for nine months beginning with the first month after receipt; (xx) An unavailable job-related retirement account that is held by the employer; (xxi) An Individual Development Account, set up for postsecondary education or purchase of an individual’s first home; (xxii) Medicare set-aside accounts that may be used only for payment of medical bills of Medicare beneficiaries; and (xxiii) Funds held in an Achieving a Better Life Experience account, also known as an ABLE account.