NY A05689

Increases the resource exemption limit for cash and liquid/nonliquid assets from $2,500 to $10,000 for all applicants for public assistance programs.

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

Modifies the education savings account exemption to equal the greater of $5,165 or the maximum tuition assistance program award available 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 sunset provision (August 22, 2023) from section 16 of the Welfare Reform Act of 1997, making the resource exemptions permanent.