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NY A05508

Bill

Official Source

Status

Introduced

3/15/2023

Primary Sponsor

Linda Rosenthal

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Adds Individual Retirement Accounts (IRAs) and Roth IRAs to the list of exempt resources when calculating household benefits under public assistance programs in New York.

  • Exempted resources are disregarded when determining eligibility and benefit amounts for public assistance, allowing recipients to accumulate retirement savings without affecting their benefits.

  • The amendment takes effect immediately but expires when the underlying section 131-n of the social services law expires.

Legislative Description

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

Last Action

referred to social services

1/3/2024

Committee Referrals

Social Services3/15/2023

Full Bill Text

No bill text available