NY A01878

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

Amends Section 131-n of the social services law, which already exempts resources such as primary homes, one automobile (up to $12,000 fair market value), burial plots, funeral agreements, 529 tuition savings plans, and ABLE savings accounts

Current law exempts cash and liquid resources up to $2,500 for applicants, $3,750 for households with members 60+ or disabled, and $10,000 for recipients

Takes effect immediately upon enactment, with amendments expiring when Section 131-n expires