NY A04330

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 vehicle savings account exemption from $4,600 to $7,050 for individuals purchasing a first or replacement vehicle for employment purposes.

Expands education savings account exemption to equal the greater of $5,165 or the maximum tuition assistance program award for the current academic year.

Adds new exempt resources including retirement accounts (IRAs, 401(k)s, 403(b)s, keogh plans), 529 college savings plans, and specifies that court-ordered child support withheld from income is not considered available income.

Removes the August 22, 2021 expiration date on section 16 of the Welfare Reform Act of 1997, making resource exemption changes permanent; effective April 1 following enactment.