Section 432.5 - Resources(a) Real and personal property which an applicant or recipient owns or in which he or she has an interest are resources which must be considered in determining initial and continuous eligibility for assistance, subject to the limitations and exceptions hereinafter proscribed.(b) An applicant or recipient may retain real property owned by that person, or in conjunction with any other person without reference to its value if such real property serves as the home of such applicant or recipient.(c) Other property in excess of two hundred fifty dollars ($250) for a single person applying for or receiving assistance and other property in excess of one thousand dollars ($1,000) for assistance groups with more than one person shall be considered an available resource. The following items shall not be considered an available resource, unless such consideration is required under Federal law or regulations: (1) Wedding and engagement rings, family heirlooms, clothing and children's toys.(2) Household furnishings, personal effects and other items used to provide, equip, and maintain a household for the applicant and recipient.(3) Equipment and material which are necessary to implement employment, rehabilitation, or self care plan for the applicant or recipient.(4) One motor vehicle per assistance group as follows: (i) When the difference between the fair market value, according to a standard guide resource available to the automobile industry and consumers that determines the value of new and used automobiles, and the amount owed on the purchase price of the vehicle is less than forty thousand dollars ($40,000).(ii) Subparagraph (i) shall apply to the extent permitted by Federal law.(5) Retroactive assistance payments received as a result of a prehearing conference or a fair hearing decision.(d) In the case of any nonresident real property, the applicant or recipient must take adequate steps to offer such property for sale on the open market or convert it to cash, with such sums being considered an available resource. The applicant or recipient shall acknowledge the liability of the property for reimbursement.(e) Personal property which is not excluded from consideration in determining eligibility shall be considered immediately convertible to cash and available to meet current living expenses. Where such personal property cannot be readily converted into cash, or where it is in the form of a frozen asset, eligibility criteria shall be met provided that the owner take adequate steps to convert the property into cash, offering such personal property for sale on the open market, and acknowledging the liability of the property for reimbursement.(f) Where assistance has been received in good faith, but the recipient in fact owns excess property or has not met the requirements of the department, such recipient shall be considered to have been ineligible for assistance during the period for which any excess property would have supported that recipient at the rate of the assistance granted. In such case, subject to the provisions of section 432.16 , recipient shall repay the amount of assistance received during such period of ineligibility.(g) For the purpose of determining a recipient's eligibility for assistance, individual lottery winnings of six hundred dollars ($600) or more shall be considered an available resource. Lottery winnings shall be calculated on a prorated basis over a twelve-month period following receipt of such winnings. Amended by P.L. TBD 2018 No. 125, § 2, eff. 12/24/2018.1967, June 13, P.L. 31, No. 21, art. 4, § 432.5, added 1976, July 15, P.L. 993, No. 202, § 5, effective in 60 days. Amended 1982, April 8, P.L. 231, No. 75, § 11, imd. effective; 1996, May 16, P.L. 175, No. 35, § 12, effective 10/1/1996.