NY A02500

Increases the cash and liquid resource exemption for public assistance applicants from $2,500 to $10,000 (eliminating the previous tiered system based on age/disability)

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

Increases the education savings account exemption from $1,400 to the greater of $5,165 or the maximum TAP award, for funds designated for post-secondary tuition

Adds new resource exemptions for retirement accounts (IRAs, 401(k)s, 403(b)s, Keogh plans), 529 college savings plans, and bona fide funeral agreements (removing the previous $1,500 equity cap)

Excludes court-ordered child support payments from being counted as available income and removes the August 22, 2025 expiration date from the welfare reform act's resource exemption provisions