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PASS - Asset Amount - Section 8

If you or anyone in your family has an SSA-approved Plan for Achieving Self-Support (PASS) that includes resources as well as income, enter the value of those resources here if they are Income Producing Assets that you entered as such in answer to the WorkWORLD question about income producing assets.

WorkWORLD asks you about including such assets only if the value of your assets is greater than $5,000. In that case, your Public Housing Agency (PHA) compares:

1. The amount of income you say that your assets give you; with

2. The amount computed by multiplying the Passbook Value times the value of your assets.

Your PHA uses the higher of the two amounts as your Income from Assets.

If your PHA is using the 2nd amount, then including some of your income producing assets in a PASS could lower your gross non-excluded income, and thus the amount used to determine your financial eligibility for Section 8 assistance and the amount you have to pay in Section 8 rent and utilities. WorkWORLD will calculate whether or not there is any effect.

See Also:

Income Exclusions

Financial Eligibility for Section 8

Tenant Rent

Family Rent to Owner

Source:

Code of Federal Regulations (CFR): 24CFR5.609(b)(3)

Back to:

Section 8 Housing Overview

Federal Rent Assistance

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