Clarification on Food Stamp Resource Test

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Celia Cole /(512) 320-0222 x110

May 14, 2002

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In Policy Page #149, which addressed new Food Stamp Program rules regarding vehicle limits and the resource test, we incorrectly reported that an IRA (Individual Retirement Account) would no longer be counted as a resource in determining a family's eligibility for Food Stamps. In fact, because they are considered a liquid resource, IRAs are still counted toward the new $5,000 resource limit established in February. Under the new policy, most non-liquid resources are not counted, while most liquid resources are. This Policy Page provides additional detail on how resources are now treated in the Food Stamp Program.