| Effective immediately, food stamp vehicle
policy is revised.
Exclude a licensed vehicle as an inaccessible
resource when the equity in the vehicle is less than $1,500.
Do not compute or consider the equity for
the following non-excluded vehicles:
-
One licensed vehicle per adult household member
(or ineligible citizen or disqualified person whose resources are considered)
regardless of use. Count the fair market value in excess of $4,650
for each such vehicle.
-
Any other vehicle a household member
under age 18 (or ineligible citizen or disqualified person under age 18
whose resources are considered) drives to and from employment, school,
job training, or to seek employment. This applies even during temporary
periods of unemployment. Count the fair market value in excess of
$4,650 for each such vehicle.
Individually evaluate all other non-excluded
licensed vehicles to determine equity and fair market value. Compare
that portion of the vehicle's fair market value exceeding $4,650 to its
equity. Count only the greater of the two amounts as a resource.
EXAMPLE 1: A household
is making payments on a licensed 1994 car with a fair market value of $7,000.
The household owes $5,900 on the car, resulting in equity of $1,100 (fair
market value minus debt) in the car. As the household's equity in
the vehicle is less than $1,500, the entire value of the vehicle is deemed
to be an inaccessible resource and the vehicle is exempt from consideration
as a resource.
EXAMPLE 2: A household with two
adult members owns two vehicles. Neither of the vehicles meets any
vehicle exemptions. That portion of the fair market value of each
vehicle in excess of $4,650 is considered a resource. The equity
is not considered.
EXAMPLE 3: The household acquires
a third vehicle, which the 17-year-old son uses to drive to and from work.
That portion of the fair market value of the vehicle in excess of $4,650
is considered a resource. The equity is not considered.
EXAMPLE 4: A household consisting
of two adults owns three vehicles. There is no debt on any vehicle,
and none of the vehicles meet an exemption. Count the fair market
value in excess of $4,650 for two of the vehicles. For the third
vehicle, compare the fair market value in excess of $4,650 to its equity
value. Count the greater of the two as a resource. Apply the
equity exemptions to the household's
advantage.
The online manual is revised to show the new
policy. A hard copy of the Intranet Food Stamp Manual is being printed
and mailed to each county. This policy revision is included. |