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Income and Income Exclusions for Housing Assistance - Iowa

For purposes of determining financial eligibility and rent payment amounts for housing assistance, the following kinds of income are counted:

·                   Gross amount of wages and salaries;

·                   Net income from the operation of a business;

·                   Net income from assets or 2% of the value of a asset, whichever is greater;

·                   Payment in lieu of earnings, such as unemployment and disability compensation;

·                   Regular payments such as alimony and child support;

·                   Welfare assistance payments.

The following kinds of income are excluded:

·                   Income from employment of children and foster children under 18 years;

·                   Payments received for the care of foster children;

·                   Lump sum additions to family assets, such as a cash gift, insurance payment, or settlement;

·                   Amounts for the reimbursement of medical costs to a family member;

·                   Income of a live-in aide;

·                   Student financial aide;

·                   Special pay to a family member in the armed forces in a combat situation;

·                   Amounts received by a person with a disability under an SSA-approved Plan to Achieve Self-Support (PASS);

·                   Public assistance for reimbursement to allow a family member to participate in a self sufficiency type program;

·                   Incremental earnings and benefits from a state or local job training program;

·                   Earnings in excess of $480 for each full-time student 18 years or older;

·                   Deferred periodic amounts from supplemental security income and social security benefits that are received in a lump sum amount;

·                   Amounts paid to a family from a State Agency for the home care of a family member with a disability;

·                   Food stamps;

·                   Payments to volunteers under the Domestic Volunteer Service Act of 1973;

·                   Payments received from programs funded under Title V of the Older American Act of 1965;

·                   Earned income tax credit refund payments.

See Also:

·           Housing Supports - Overview

·           Welcome and Introduction to Benefits in Iowa

Regulations regarding this program can be found at 24 CFR 5.609

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