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Vermont Department for Children and Families Reach Up Eligibility Rules Economic Services Division 2200 84

amount of penalty, if any, for early withdrawal.

2256.5 Vehicles (08/01/2024, 23-28)

a. A vehicle is defined as a passenger car, truck or jeep, motorcycle, camper, van, snowmobile or boat that is operable or stored on blocks and includes all major operating parts.

b. A non-operable vehicle minus operating parts is considered junk and thus does not come within the definition of a vehicle.

1. However, the salvage value of a junked vehicle may represent a substantial resource requiring individual evaluation.

2. The vehicle's equity value equals the vehicle's fair market value minus the debt owed on the vehicle.

3. In situations where the Reach Up household disagrees with the determined equity value of the vehicle being considered, a written appraisal of the value submitted by a licensed dealer will be accepted. c. The equity value of one operable motor vehicle for each adult and each child of driving age in the Reach Up household, who needs a vehicle to attend school or work, is excluded as a resource.

1. In situations where the household owns additional vehicles, they shall identify each vehicle to be excluded.

2. The equity value of all remaining vehicles owned by the household, unless otherwise excluded, must be counted towards the combined resources limitation.

d. If a vehicle excluded under this provision is sold and then replaced within 30 days of the date of the sale with another vehicle, the proceeds from the sale will be disregarded as a resource during this 30-day period.

2256.6 Income-Producing Property (08/01/2024, 23-28)

a. Income-producing property is personal property used as a means of livelihood and is excluded from the combined resources limitation (rule 2254.1).

b. Income-producing property usually exists in quantities beyond the customary needs of normal living and is used by members of a Reach Up household to produce income for support of the household, including:

1. Vehicles;

2. Tools;

3. Livestock;

4. Equipment;

5. Machinery; and

Page 86

Official source

Vermont Department for Children and Families Reach Up Eligibility Rules Economic Services Division 2200 84

amount of penalty, if any, for early withdrawal.

2256.5 Vehicles (08/01/2024, 23-28)

a. A vehicle is defined as a passenger car, truck or jeep, motorcycle, camper, van, snowmobile or boat that is operable or stored on blocks and includes all major operating parts.

b. A non-operable vehicle minus operating parts is considered junk and thus does not come within the definition of a vehicle.

1. However, the salvage value of a junked vehicle may represent a substantial resource requiring individual evaluation.

2. The vehicle's equity value equals the vehicle's fair market value minus the debt owed on the vehicle.

1. In situations where the household owns additional vehicles, they shall identify each vehicle to be excluded.

2. The equity value of all remaining vehicles owned by the household, unless otherwise excluded, must be counted towards the combined resources limitation.

2256.6 Income-Producing Property (08/01/2024, 23-28)

a. Income-producing property is personal property used as a means of livelihood and is excluded from the combined resources limitation (rule 2254.1).

1. Vehicles;

2. Tools;

3. Livestock;

4. Equipment;

5. Machinery; and