New York A 1878: Establishes the toll advisory task force to study and report upon the current road and bridge toll rates, commuter discounts, resident discounts, commercial rates and funding for the Governor Mario M. Cuomo bridg

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A01878 Summary:

BILL NOA01878 

&nbsp

SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

&nbsp

MLTSPNSR

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Amd §131-n, Soc Serv L

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Exempts IRAs and Roth IRAs in the calculation of household benefits under public assistance programs.

Go to top A01878 Actions:

BILL NOA01878 

&nbsp

01/14/2025referred to social services

01/07/2026referred to social services

Go to topA01878 Committee&nbspVotes:

Go to topA01878 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01878 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1878

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Social Services

 AN ACT to amend the social services law, in relation to exempting IRAs
 and Roth IRAs in the calculation of household benefits under public
 assistance programs

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 1 of section 131-n of the social services law,
 2 as amended by section 5 of part U of chapter 56 of the laws of 2022, is
 3 amended to read as follows:
 4 1. The following resources shall be exempt and disregarded in calcu-
 5 lating the amount of benefits of any household under any public assist-
 6 ance program: (a) cash and liquid or nonliquid resources up to two thou-
 7 sand five hundred dollars for applicants, three thousand seven hundred
 8 fifty dollars for applicants in households in which any member is sixty
 9 years of age or older or is disabled or ten thousand dollars for recipi-
 10 ents, (b) an amount up to four thousand six hundred fifty dollars in a
 11 separate bank account established by an individual while currently in
 12 receipt of assistance for the sole purpose of enabling the individual to
 13 purchase a first or replacement vehicle for the recipient to seek,
 14 obtain or maintain employment, so long as the funds are not used for any
 15 other purpose, (c) an amount up to one thousand four hundred dollars in
 16 a separate bank account established by an individual while currently in
 17 receipt of assistance for the purpose of paying tuition at a two-year or
 18 four-year accredited post-secondary educational institution, so long as
 19 the funds are not used for any other purpose, (d) the home which is the
 20 usual residence of the household, (e) one automobile, up to ten thousand
 21 dollars fair market value, through March thirty-first, two thousand
 22 seventeen; one automobile, up to eleven thousand dollars fair market
 23 value, from April first, two thousand seventeen through March thirty-
 24 first, two thousand eighteen; and one automobile, up to twelve thousand

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04686-01-5

 A. 1878 2

 1 dollars fair market value, beginning April first, two thousand eighteen
 2 and thereafter, or such other higher dollar value as the local social
 3 services district may elect to adopt, (f) one burial plot per household
 4 member as defined in department regulations, (g) bona fide funeral
 5 agreements up to a total of one thousand five hundred dollars in equity
 6 value per household member, (h) funds in an individual development
 7 account established in accordance with subdivision five of section three
 8 hundred fifty-eight of this chapter and section four hundred three of
 9 the social security act, (i) for a period of six months, real property
 10 which the household is making a good faith effort to sell, in accordance
 11 with department regulations and tangible personal property necessary for
 12 business or for employment purposes in accordance with department regu-
 13 lations, and (j) funds in a qualified tuition program that satisfies the
 14 requirement of section 529 of the Internal Revenue Code of 1986, as
 15 amended, [and] (k) funds in a New York achieving a better life experi-
 16 ence savings account established in accordance with article eighty-four
 17 of the mental hygiene law[.
 18 If] if federal law or regulations require the exemption or disregard
 19 of additional income and resources in determining need for family
 20