Tenn. Comp. R. & Regs. 1240-01-04-.05 - EXEMPT RESOURCES

State Regulations

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In determining the resources of an HH/AG, only the following shall be exempt:

Repayment of the grant is made from the sale proceeds not to exceed the total of the net proceeds. Any proceeds remaining after repayment of the grant is considered as a resource.

If assistance is terminated for any reason prior to the end of the nine-month exemption period, the assistance unit has an overpayment subject to the usual collection procedures.

"This contract is irrevocable and the funds paid hereunder are not nonrefundable."

In addition, contracts established before 7/02/81, which were previously required to be revocable under state law, may be exempted if a chancery, circuit, probate, or general sessions court declares them to be irrevocable. Verification of the court's declaration must be obtained.

Federal assistance provided by a program funded in whole or in part under Title IV of the Higher Education Act is excluded. Such payments include, but are not limited to, Pell grants, Supplemental Education Opportunity (SEOG) grants, the PLUS Program grants, the National Direct Student Loans (NDSL), the Byrd Honor Scholarships, and college work study funds.

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Tenn. Comp. R. & Regs. 1240-01-04-.05 - EXEMPT RESOURCES

Official source

State Regulations

Compare

In determining the resources of an HH/AG, only the following shall be exempt:

Repayment of the grant is made from the sale proceeds not to exceed the total of the net proceeds. Any proceeds remaining after repayment of the grant is considered as a resource.

If assistance is terminated for any reason prior to the end of the nine-month exemption period, the assistance unit has an overpayment subject to the usual collection procedures.

"This contract is irrevocable and the funds paid hereunder are not nonrefundable."

In addition, contracts established before 7/02/81, which were previously required to be revocable under state law, may be exempted if a chancery, circuit, probate, or general sessions court declares them to be irrevocable. Verification of the court's declaration must be obtained.

Federal assistance provided by a program funded in whole or in part under Title IV of the Higher Education Act is excluded. Such payments include, but are not limited to, Pell grants, Supplemental Education Opportunity (SEOG) grants, the PLUS Program grants, the National Direct Student Loans (NDSL), the Byrd Honor Scholarships, and college work study funds.