Bill > A02500

This bill amends the Social Services Law to expand resource exemptions for applicants seeking public assistance programs. The key changes include increasing the cash and liquid resource limit from $2,500 to $10,000 for all applicants, raising the vehicle savings account limit from $4,650 to $7,050, and increasing the tuition savings account limit to at least $5,165 or the maximum tuition assistance program award. Additionally, the bill now explicitly exempts retirement accounts (including IRAs, 401(k)s, 403(b)s, and Keogh plans), all 529 college savings plans, and court-ordered child support payments from consideration as available income or resources when determining public assistance eligibility. The bill also removes the previous expiration date for certain welfare reform act provisions and clarifies that personal property not specifically exempted will be evaluated based on its equity value. These changes are designed to provide more financial flexibility for individuals and families seeking public assistance by allowing them to maintain more savings and retirement assets without jeopardizing their eligibility for support programs.

Budget and Finance, Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A2500