To get food stamps, households must meet certain resource tests. Dollar amounts discussed below are subject to change each Federal budget year.
NOTE: The Resource Limits are contained in the Desk Aid for Benefit Eligibility. If you are connected to the Internet, you can click here to see the Desk Aid on-line.
You must have Adobe Acrobat Reader installed in order to view the on-line version. If you do not have the Reader installed, you can download it free from: www.adobe.com/products/acrobat/readstep.html
Households may have $2,000 in countable resources, such as a bank account. Households may have $3,000 if at least one person is age 60 or older. Certain resources are not counted, such as a the resources of people who receive Supplemental Security Income (SSI) or benefits from the Family Investment Program (FIP), or general assistance.
Some resources that will not be counted are:
· Your home and surrounding lot,
· Household goods and personal belongings, and
· Life insurance policies.
Examples of resources that will be counted are:
· Cash and money in checking and savings accounts;
· Stocks and bonds; and
· Land and buildings, other than your home and lot, that do not produce income.
(Proof: Bank books, bank statements, and other documents.)
Licensed vehicles are handled as follows:
Vehicles are NOT counted if they are:
· Used over 50 percent of the time for income-producing purposes,
· Annually producing income consistent with their fair market value,
· Needed for long distance travel for work (other than daily commute),
· Used as the home,
· Needed to transport a physically disabled household member, or
· Needed to carry most of the household's fuel or water.
For the following licensed vehicles, the fair market value over $4,650 is counted as a resource:
· One per household, and
· Vehicles used for work, training, or education to prepare for work, or to seek work in accordance with the food stamp employment and training requirements.
For all other vehicles, the fair market value over $4,650 or the equity value, whichever is more, is counted as a resource:
· Food Stamp Eligibility
· Food Stamp Benefit Levels
· Food Stamps Rights and Responsibilities
· Food Stamps and Work
· Iowa Food Stamp Program Overview
· Welcome and Introduction to Iowa Benefits
· Chapter D, Resources
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