NY A10312

Increases general resource exemptions for public assistance applicants from $2,000 to $3,000, and from $3,000 to $4,500 for households with members age 60 or older.

Raises the vehicle purchase savings account exemption from $4,650 to $7,050 and increases the education savings account exemption to the greater of $5,165 or the maximum tuition assistance program award available for the current academic year.

Expands resource exemptions to include retirement accounts (IRAs, 401(k)s, 403(b)s, keogh plans) and 529 college savings plans, and removes the six-month time limit on exempting real property being sold in good faith.

Eliminates equity value limits on bona fide funeral agreements and clarifies that court-ordered child support withheld from income shall not be considered available income.

Removes the August 22, 2017 expiration date for section 16 of the Welfare Reform Act and takes effect April 1 following enactment.