B State Assistance Types of Resources - Vehicles
Vehicle equity values are COUNTABLE in the resource determination for State Assistance.
All vehicles owned solely by SSI recipients are NOT COUNTABLE toward the budgetary unit.
When there are no vehicles owned solely by an SSI recipient, one vehicle co-owned with an SSI recipient is NOT COUNTABLE.
When there are other vehicles co-owned with an SSI recipient, the portion belonging to the SSI recipient is NOT COUNTABLE.
$1500 of the current equity value of one vehicle in the budgetary unit is NOT COUNTABLE. Any amount of the equity value in excess of $1500 is COUNTABLE.
When applying this $1500 exclusion, the following apply:
This applies to only ONE vehicle per budgetary unit.
The one vehicle may be any car, truck or other motor vehicle used to provide transportation.
When two or more vehicles are owned, apply the exclusion to the vehicle with the highest equity value.
Allow the exclusion only to the basic vehicle, but not any attachments such as trailers or campers.
Determine the following:
Ownership of the vehicle. Ownership is stated on the legal title of the vehicle.
Whether the resource is available to the budgetary unit. (See Resource Availability)
The Current Market Value of the vehicle. (See CMV, Vehicle)