PDFWAC 388-470-0045

How do my resources count toward the resource limits for cash assistance?

(1) We count the following resources toward your assistance unit's resource limits for cash assistance to decide if you are eligible for benefits under WAC 388-470-0005:
(a) Liquid resources not specifically excluded in subsection (2) of this section, including but not limited to:
(i) Cash on hand;
(ii) Money in checking or savings accounts;
(iii) Money market accounts or certificates of deposit (CD) less any withdrawal penalty;
(iv) Stocks, bonds, annuities, or mutual funds less any early withdrawal penalty;
(v) Available trusts or trust accounts;
(vi) Lump sum payments as described in chapter 388-455 WAC; and
(vii) 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 $1,500 of revocable burial insurance policies or funeral agreements;
(d) The amount of a child's irrevocable educational trust fund that is over $4,000 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(e) Funds withdrawn from an individual development account (IDA) if they were removed for a purpose other than those specified in RCW 74.08A.220;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 building not specifically excluded in this section;
(g) The equity value of vehicles as described in WAC 388-470-0070;
(h) Resources of a sponsor as described in WAC 388-470-0060;
(i) Sales contracts; and
(j) 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.
(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 12 months from the date of receipt;
(d) Earned income tax credit (EITC) in the month received and for up to 12 months;
(e) Advance earned income tax credit payments;
(f) Washington's working families tax credit (WFTC);
(g) Federal economic stimulus payments that are excluded for federal and federally assisted state programs;
(h) Individual development accounts (IDAs) established under RCW 74.08A.220;
(i) Retroactive cash benefits or TANF/SFA benefits resulting from a court order modifying a department decision;
(j) Underpayments received under chapter 388-410 WAC;
(k) Educational benefits that are excluded as income under WAC 388-450-0035;
(l) The income and resources of an SSI recipient;
(m) A bank account jointly owned with an SSI recipient if SSA already counted the money for SSI purposes;
(n) Foster care payments provided under Title IV-E, state foster care maintenance payments, or both;
(o) Adoption support payments;
(p) All funds in an achieving a better life experience (ABLE) account;
(q) Self-employment accounts receivable that the client has billed to the customer but has been unable to collect;
(r) Retirement funds or pension benefits; and
(s) Resources specifically excluded by federal law.
(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 to return to the home and are out of the home because of:
(i) Employment;
(ii) Training for future employment;
(iii) Illness; or
(iv) Natural disaster or casualty;
(c) Indian lands held jointly with a tribe or land that can be sold only with the approval of the Bureau of Indian Affairs; and
(d) 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.
(4) Property excluded under subsection (3)(d)(iv) of this section used by a self-employed farmer or fisher retains its exclusion for one year after the household member stops farming or fishing.
(5) 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.
(6) If you sell your home, you have 90 days to reinvest the sale proceeds into an exempt resource.
(7) If you do not reinvest within 90 days, we will determine whether there is good cause to allow more time. If we determine you have good cause, we will give you more time based on your circumstances. If you do not have good cause, we will count your sale proceeds as a resource. Some examples of good cause include:
(a) Closing on your new home is taking longer than anticipated;
(b) You are unable to find a new home that you can afford;
(c) Someone in your household is receiving emergent medical care;
(d) Your children are in school and moving would require them to change schools.
[Statutory Authority: RCW 74.04.005, 74.04.050, 74.04.055, 74.04.057, 74.04.770, 74.08.090, and 2023 c 418. WSR 23-24-007, § 388-470-0045, filed 11/27/23, effective 2/1/24. Statutory Authority: RCW 74.04.050, 74.04.055, 74.04.057, 74.04.300, 74.04.510, 74.08.090, 74.08A.120, and 82.08.0206. WSR 23-06-039, § 388-470-0045, filed 2/23/23, effective 3/26/23. Statutory Authority: RCW 74.04.050, 74.04.055, 74.04.057, 74.04.510, 74.08.090, 74.08A.120, and 74.04.300. WSR 17-17-097, § 388-470-0045, filed 8/18/17, effective 9/18/17. Statutory Authority: RCW 74.04.050, 74.04.055, 74.04.057, 74.08.090, 74.04.510, and 2011 1st sp.s. c 15. WSR 13-18-005, § 388-470-0045, filed 8/22/13, effective 10/1/13. 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. WSR 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. WSR 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. WSR 09-09-103, § 388-470-0045, filed 4/20/09, effective 4/21/09. Statutory Authority: RCW 74.08.090 and 74.04.510. WSR 03-05-015, § 388-470-0045, filed 2/7/03, effective 3/1/03; WSR 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. WSR 98-16-044, § 388-470-0045, filed 7/31/98, effective 9/1/98.]