N.M. Code R. § 8.139.520.12

Current through Register Vol. 35, No. 11, June 11, 2024

Section 8.139.520.12 - CALCULATING INCOME

To determine a household's income eligibility, the following guidelines will be followed:

A. The gross monthly income of all members, minus any income exclusions, is a household's gross income. Households which do not include elderly or disabled members must meet the gross income standard before other calculations are made.

B. Twenty percent of gross earned income is subtracted to determine net monthly earned income. or multiply the gross earned income by eight percent.

C. Total monthly earned income of all household members, minus income exclusions, if any, is added to net monthly unearned income.

D. The standard deduction is subtracted.

E. If a household member(s) is entitled to an excess medical deduction, the amount of medical expenses that exceeds $35 is deducted.

F. Allowable monthly dependent care expenses, if any, are subtracted, up to the maximum amount allowed per dependent.

G. Subtract allowable monthly child support payment.

H. Add allowable shelter expenses to determine total shelter costs.

I. Subtract from total shelter costs fifty percent of the household's monthly income after all of the above deductions have been subtracted. The remaining amount, if any, is the excess shelter cost.

(1) The excess shelter cost, up to the maximum amount allowed, is subtracted from monthly income determined after G above.

(2) Households with elderly or disabled members have the full shelter cost amount exceeding Fifty Percent of net income subtracted.

(3) The household's net monthly income has been determined.

J. The household's net monthly income is compared to the net income standard Subsection E of 8.139.500.8 NMAC to determine eligibility.

N.M. Code R. § 8.139.520.12

02/01/95, 10/01/95; 8.139.520.12 NMAC - Rn, 8 NMAC 3.FSP.526, 5/15/2001, Adopted by New Mexico Register, Volume XXXIV, Issue 22, November 21, 2023, eff. 11/21/2023