Bill > S00246

This bill modifies resource exemption rules for applicants seeking public assistance programs by expanding the types of assets and funds that will not be counted when determining eligibility. Specifically, the bill increases the cash and liquid resource exemption from $2,500 to $10,000 for all applicants, and adds new exemptions for retirement accounts (including IRAs, 401(k)s, 403(b)s, and Keogh plans), all 529 college savings plans, and court-ordered child support payments. The bill also increases the exemption for vehicle savings accounts from $4,650 to $7,050 and the tuition savings account limit to either $5,165 or the maximum tuition assistance program award. Additionally, the bill removes the expiration date for certain welfare reform provisions, making them permanent. These changes are designed to provide more financial flexibility for individuals seeking public assistance by allowing them to maintain more savings and assets without disqualifying themselves from receiving benefits. The modifications aim to support individuals' efforts to maintain financial stability, pursue education, save for retirement, and manage child support obligations while accessing necessary public assistance programs.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S246