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NY A10346

Bill

Official Source

Status

Introduced

5/23/2016

Primary Sponsor

Linda Rosenthal

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Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends Social Services Law Section 131-n to add Individual Retirement Accounts (IRAs) and Roth IRAs to the list of exempt resources when calculating public assistance benefits
  • IRAs and Roth IRAs join other exempt resources including the primary residence, one vehicle (up to $12,000 fair market value), and certain savings accounts for education and vehicle purchase
  • Takes effect immediately upon enactment
  • Amendments expire concurrent with the expiration of Section 131-n of the Social Services Law

Legislative Description

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

Last Action

referred to social services

5/23/2016

Committee Referrals

Social Services5/23/2016

Full Bill Text

No bill text available