(1) We count the following resources toward your assistance unit's resource limits for cash assistance and family medical programs to decide if you are eligible for benefits under WAC 388-470-0005
(a) Liquid resources not specifically excluded in subsection (2) below. These are resources that are easily changed into cash. Some examples of liquid resources are:
(i) Cash on hand;
(ii) Money in checking or savings accounts;
(iii) Money market accounts or certificates of deposit (CDs) less any withdrawal penalty;
(iv) Available retirement funds or pension benefits, less any withdrawal penalty;
(v) Stocks, bonds, annuities, or mutual funds less any early withdrawal penalty;
(vi) Available trusts or trust accounts;
(vii) Lump sum payments as described in chapter 388-455
(viii) Any funds retained beyond the month of receipt from conversion of federally protected rights or extraction of exempt resources by members of a federally recognized tribe that are in the form of countable resources.
(b) The cash surrender value (CSV) of whole life insurance policies.
(c) The CSV over fifteen hundred dollars of revocable burial insurance policies or funeral agreements.
(d) The amount of a child's irrevocable educational trust fund that is over four thousand dollars per child.
(e) Funds withdrawn from an individual development account (IDA) if they were removed for a purpose other than those specified in RCW 74.08A.220
(f) Any real property like a home, land or buildings not specifically excluded in subsection (3) below.
(g) The equity value of vehicles as described in WAC 388-470-0070
(h) Personal property that is not:
(i) A household good;
(ii) Needed for self-employment; or
(iii) Of "great sentimental value," due to personal attachment or hobby interest.
(i) Resources of a sponsor as described in WAC 388-470-0060
(j) For cash assistance only, sales contracts.
(2) The following types of liquid resources do not count when we determine your eligibility:
(a) Bona fide loans, including student loans;
(b) Basic Food benefits;
(c) Income tax refunds for twelve months from the date of receipt;
(d) Earned income tax credit (EITC) in the month received and for up to twelve months;
(e) Advance earned income tax credit payments;
(f) Federal economic stimulus payments that are excluded for federal and federally assisted state programs;
(g) Individual development accounts (IDAs) established under RCW 74.08A.220
(h) Retroactive cash benefits or TANF/SFA benefits resulting from a court order modifying a decision of the department;
(i) Underpayments received under chapter 388-410
(j) Educational benefits that are excluded as income under WAC 388-450-0035
(k) The income and resources of an SSI recipient;
(l) A bank account jointly owned with an SSI recipient if SSA already counted the money for SSI purposes;
(m) Foster care payments provided under Title IV-E and/or state foster care maintenance payments;
(n) Adoption support payments;
(o) Self-employment accounts receivable that the client has billed to the customer but has been unable to collect;
(p) Resources specifically excluded by federal law; and
(q) For medical benefits, receipts from exercising federally protected rights or extracted exempt resources (fishing, shell-fishing, timber sales, etc.) during the month of receipt for a member of a federally recognized tribe.
(3) The following types of real property do not count when we determine your eligibility:
(a) Your home and the surrounding property that you, your spouse, or your dependents live in;
(b) A house you do not live in, if you plan on returning to the home and you are out of the home because of:
(ii) Training for future employment;
(iii) Illness; or
(iv) Natural disaster or casualty.
(c) Property that:
(i) You are making a good faith effort to sell;
(ii) You intend to build a home on, if you do not already own a home;
(iii) Produces income consistent with its fair market value, even if used only on a seasonal basis; or
(iv) A household member needs for employment or self-employment. Property excluded under this section and used by a self-employed farmer or fisher retains its exclusion for one year after the household member stops farming or fishing.
(d) Indian lands held jointly with the tribe, or land that can be sold only with the approval of the Bureau of Indian Affairs.
(4) If you deposit excluded liquid resources into a bank account with countable liquid resources, we do not count the excluded liquid resources for six months from the date of deposit.
(5) If you sell your home, you have ninety days to reinvest the proceeds from the sale of a home into an exempt resource.
(a) If you do not reinvest within ninety days, we will determine whether there is good cause to allow more time. Some examples of good cause are:
(i) Closing on your new home is taking longer than anticipated;
(ii) You are unable to find a new home that you can afford;
(iii) Someone in your household is receiving emergent medical care; or
(iv) Your children are in school and moving would require them to change schools.
(b) If you have good cause, we will give you more time based on your circumstances.
(c) If you do not have good cause, we count the money you got from the sale as a resource.
[Statutory Authority: RCW 74.04.050, 74.04.055, 74.04.057, 74.08.090, chapter 74.12 RCW, and The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. 11-21-025, § 388-470-0045, filed 10/11/11, effective 10/29/11. Statutory Authority: RCW 74.08.090 and ARRA of 2009, Public Law 111-5, Section 5006(b); 42 C.F.R. 435.601, EEOICPA of 2000, Public Law 106398, Sec. 1, app., Title XXXVI (Oct. 30, 2000) (section 1 adopting as Appendix H.R. 5408), Section 3646 of the Appendix. 10-15-069, § 388-470-0045, filed 7/16/10, effective 8/16/10. Statutory Authority: RCW 74.04.005, 74.04.050, 74.04.055, 74.04.057, 74.04.510 and 74.08.090. 09-09-103, § 388-470-0045, filed 4/20/09, effective 4/21/09. Statutory Authority: RCW 74.08.090 and 74.04.510. 03-05-015, § 388-470-0045, filed 2/7/03, effective 3/1/03; 99-16-024, § 388-470-0045, filed 7/26/99, effective 9/1/99. Statutory Authority: RCW 74.04.050, 74.04.055, 74.04.057 and 74.08.090. 98-16-044, § 388-470-0045, filed 7/31/98, effective 9/1/98.]