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(a) Subject to allowable exclusions, to be eligible for assistance under 7 AAC 47.300 - 7 AAC 47.525, the total monthly countable income, if any, of an individual described in 7 AAC 47.330 may not exceed the minimum daily rate set under 7 AAC 47.470.
(b) Unless otherwise specified in 7 AAC 47.340 - 7 AAC 47.367, income not received in cash is valued at the current fair market value of that which is received.
(c) Income is determined on a monthly basis except that earnings from self-employment are computed on a yearly basis and then divided by 12 to determine monthly income. Unless otherwise specified, any property, money, or service described in the definition of "income" set out in 7 AAC 47.367 is considered income in the month of receipt but is considered a resource in any calendar month after the month of receipt.
(d) For the purpose of determining eligibility of an individual who does not receive monthly SSI payments, income is that received or expected to be received in the month for which assistance is to be provided.
(e) For an individual who also receives monthly SSI payments, income is equal to the applicable SSI payment standard for the month for which assistance is provided, less the value of any support and maintenance furnished the applicant in kind in the relevant month.
History: Eff. 11/23/80, Register 76; am 6/28/2002, Register 162
Authority: AS 47.05.010
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Last modified 7/05/2006