TANF, SNAP, Children on TP 32 and Children on TP 56

Staff must use the following policy to determine whether an IDA is a countable or exempt resource.

TANF IDAs — TANF IDAs must be used for one of the following purposes:

paying for a college education,

purchasing a home, or

starting a business.

The household is not required to be a TANF recipient to qualify for an IDA, but the household must be financially needy and have a child living with the custodial parent or other adult relative who meets the TANF relationship criteria or the household must consist of a pregnant woman.

The household is considered financially needy if the household is eligible to receive TANF, SNAP, or any Medical Program except TP 56. For TP 56, the household is considered financially needy if its gross income is below 185 percent of the Federal Poverty Income Limit (FPIL).

Any earnings, including Earned Income Tax Credit (EIC), deposited in a TANF IDA must be excluded from resources. Any interest earned on the account must be excluded from resources. Any deposits into an IDA not made with earnings, or withdrawals from an IDA that are not made for an allowable qualifying purpose, should count as a resource.

Assets for Independence Act (AFIA) IDAs — AFIA IDAs are funded and authorized under the AFIA and must meet one of the same qualifying purposes as TANF IDAs. Any earnings, including EIC, deposited in an AFIA IDA must be excluded from resources. Any interest earned on the account must also be excluded from resources. Any deposits into an IDA not made with earnings, or withdrawals from an IDA that are not made for an allowable qualifying purpose, should count as a resource.

Other IDAs — These IDAs do not meet one of the qualifying purposes of paying for a college education, purchasing a home, or starting a business and should be counted as a resource. The interest earned on these accounts must be counted as unearned income.

For any type of IDA, matched funds are not counted as a resource, as they are not accessible to the household.

Exception: IDAs are exempted if Long Term Care certifies them as meeting the Social Security criteria for a Plan to Achieve Self-Sufficiency (PASS).