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Title 7 . Health and Social Services
Chapter 47 . Hearings
Section 350. Resources

7 AAC 47.350. Resources

(a) Subject to allowable exclusions, to be eligible for assistance under 7 AAC 47.300 - 7 AAC 47.525, the total resources, if any, of an individual described in 7 AAC 47.330 may not exceed

(1) $2,000 for the individual; or

(2) $3,000 for an individual living with a spouse, regardless of whether or not the spouse is eligible for assistance under 7 AAC 47.300 - 7 AAC 47.525.

(b) If an individual has nonexcludable resources that do not exceed the applicable resource limit at any time on the first day of a calendar month, the applicant is considered to meet the resource requirement for that month.

(c) To determine an individual's total resources, the department will apply the provisions of

(1) 7 AAC 47.355, dealing with excluded resources; and

(2) 7 AAC 47.357, dealing with the disposal of excess resources.

(d) Any cash or other property received from the sale, exchange, or other disposition of a resource retains the character of a resource.

History: Eff. 11/23/80, Register 76; am 6/28/2002, Register 162

Authority: AS 47.05.010

AS 47.25.120

AS 47.25.130

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Last modified 7/05/2006