The following liquid assets are nonexempt and are used to determine eligibility. These assets include, but are not limited to:
- cash on hand,
- checking or savings accounts,
- credit union accounts,
- savings certificates,
- stocks or bonds, and
- lump sum payments (considered available starting in the month of receipt, unless exempt under Federal Law).
- Federal tax refunds received after December 31, 2009 are exempt as an asset. For non-categorically eligible SNAP units that report receipt of a Federal tax return, ask the unit what amount they received and subtract the refund from the total amount of assets prior to comparing to the asset limit.
- State income tax refunds are exempt for SNAP units that are categorically eligible. For non-categorically eligible SNAP units, consider the State tax refund as a nonexempt asset in the month following the month of receipt.
Note: The assets of a categorically eligible SNAP unit are exempt (See PM 05-07-00).