In determining eligibility for CCAD services, the department
considers the following to be resources.
(1) Liquid resources including cash on hand, certificates
of deposit, checking or savings accounts, money market funds, revocable
trust funds, savings certificates, stocks, or bonds. Liquid resources
also include the individual's or couple's portion of money in a checking
or savings account or a money market fund held jointly with a another
person.
(A) Jointly held liquid resources are the resources
of the applicant/client if he has unrestricted access to the funds
regardless of the source. The applicant/client may move his portion
of jointly held funds in a joint account to a new account. The new
account may be jointly owned, but all funds in the new account are
his.
(B) Money received as a nonrecurring lump sum payment
is not considered a resource until 30 days from the date of receipt.
Lump sum payments include, but are not limited to, income tax refunds;
earned income tax credits or rebates; one-time bonuses from mineral
rights; retroactive lump sum social security, SSI, or railroad retirement
benefits; lump sum insurance settlements; one-time gifts, awards,
or prizes; and refunds from rental or utility deposits. The applicant/client
is responsible for reporting the receipt of a lump sum payment.
(2) Nonliquid resources including nonexempt licensed
or unlicensed vehicles; buildings and land not designated as homestead
that are not producing income, or are producing income less than 6.0%
of the equity value; and any other property not specifically excluded.
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| Source Note: The provisions of this §271.91 adopted to be effective February 1, 1989, 13 TexReg 5751; transferred effective September 15, 2023, as published in the August 18, 2023, issue of the Texas Register, 48 TexReg 4523 |
