S T A T E   O F   N E W   Y O R K
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                                  10346

                          I N  A S S E M B L Y

                              May 23, 2016
                               ___________

Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
  Committee on Social Services

AN ACT to amend the social services law, in relation to  exempting  IRAs
  and  Roth  IRAs  in the calculation of household benefits under public
  assistance programs

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision 1 of section 131-n of the social services law,
as amended by section 1 of part X of chapter 54 of the laws of 2016,  is
amended to read as follows:
  1.  The  following resources shall be exempt and disregarded in calcu-
lating the amount of benefits of any household under any public  assist-
ance program: (a) cash and liquid or nonliquid resources up to two thou-
sand  dollars,  or  three  thousand dollars in the case of households in
which any member is sixty years of age or older, (b)  an  amount  up  to
four  thousand  six  hundred  fifty  dollars  in a separate bank account
established by an individual while currently in  receipt  of  assistance
for  the  sole purpose of enabling the individual to purchase a first or
replacement vehicle for  the  recipient  to  seek,  obtain  or  maintain
employment, so long as the funds are not used for any other purpose, (c)
an  amount  up  to  one thousand four hundred dollars in a separate bank
account established by an  individual  while  currently  in  receipt  of
assistance  for the purpose of paying tuition at a two-year or four-year
accredited post-secondary educational institution, so long as the  funds
are  not  used  for  any  other purpose, (d) the home which is the usual
residence of the household, (e)  one  automobile,  up  to  ten  thousand
dollars  fair  market  value,  through  March thirty-first, two thousand
seventeen; one automobile, up to eleven  thousand  dollars  fair  market
value,  from  April  first, two thousand seventeen through March thirty-
first, two thousand eighteen; and one automobile, up to twelve  thousand
dollars  fair market value, beginning April first, two thousand eighteen
and thereafter, or such other higher dollar value as  the  local  social
services  district may elect to adopt, (f) one burial plot per household
member as defined in  department  regulations,  (g)  bona  fide  funeral

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD11864-03-6

A. 10346                            2

agreements  up to a total of one thousand five hundred dollars in equity
value per household member,  (h)  funds  in  an  individual  development
account established in accordance with subdivision five of section three
hundred  fifty-eight  of  this chapter and section four hundred three of
the social security act [and], (i) for a  period  of  six  months,  real
property  which  the household is making a good faith effort to sell, in
accordance with department regulations and  tangible  personal  property
necessary  for  business  or  for employment purposes in accordance with
department regulations, AND (J) INDIVIDUAL RETIREMENT  ACCOUNTS  (IRAS),
AND  ROTH  IRAS.  If federal law or regulations require the exemption or
disregard of additional income and resources  in  determining  need  for
family  assistance,  or  medical  assistance not exempted or disregarded
pursuant to any other provision of this chapter, the department may,  by
regulations  subject  to  the  approval  of  the director of the budget,
require social services officials to exempt or disregard such income and
resources. Refunds resulting from earned income  tax  credits  shall  be
disregarded in public assistance programs.
  S  2.  This act shall take effect immediately; provided, however, that
the amendments to section 131-n of  the  social  services  law  made  by
section  one of this act shall not affect the expiration of such section
and shall be deemed to expire therewith.