Ill. Admin. Code tit. 89 § 120.330

Current through Register Vol. 48, No. 45, November 8, 2024

Section 120.330 - Unearned Income

a) All currently available, unearned income which is not specified as exempt shall be considered in the determination of eligibility.

b) Unearned income is all income other than that received in the form of salary for services performed as an employee or profits from self-employment. Unearned income includes any amount of interest earned from assets disregarded by Section 120.382(a)(3) and (a)(4).

c) When the amount of unearned income to be considered is determined, the cents are dropped from each payment amount.

d) For payments received weekly, the weekly amount is multiplied by 4.33 to determine the countable monthly income.

e) For payments received bi-weekly, the bi-weekly amount is multiplied by 2.16 to determine the countable monthly income.

Ill. Admin. Code tit. 89, § 120.330

Amended at 21 Ill. Reg. 13638, effective October 1, 1997