In the Supplemental Nutrition Assistance Program (SNAP, formerly Food Stamp Program), the value of all assets that are available and not explicitly excluded are counted. Assets are available if a household member has both legal authority and actual ability to use the assets for self-support. A household member can prove unavailability by showing proof of a legal or other actual barrier to disposal of the asset that cannot reasonably be overcome. Assets that are owned jointly with non-household members may be considered available.
Countable assets are used when determining if the household passes the Resource Test. Excluded assets are not considered when determining if the household passes the Resource Test.
Countable assets have either a cash value (liquid) or equity value (non-liquid). The following are examples of when the value of the liquid asset is the amount in the household member's possession or account:
· cash-on-hand, including uncashed checks, drafts, and warrants;
· savings account;
· checking account; and
· credit union share or draft account.
The following are examples of when the value of the liquid assets is the amount if the asset were converted to cash:
· certificate of deposit;
· U.S. savings bond,
· stocks or bonds, and
· pensions plans less the penalty for early withdrawal.
Examples of assets with an equity value include mortgages, land, and tools.
If your household resides in Connecticut, read the topic "Interest Payments (Connecticut) - SNAP (Food Stamps) ".
If your household resides in Vermont and includes a TANF recipient, read the topic "Asset Exclusion (Vermont) - SNAP (Food Stamps) " for information about excluding the assets resulting from earned income.
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