N.Y. Comp. Codes R. & Regs. tit. 18 § 352.25

Current through Register Vol. 46, No. 43, October 23, 2024

Section 352.25 - Net income from assigned assets

Net income from an asset assigned to the agency shall be deemed current income and shall be applied against current need. (Net income is the difference between gross income and essential charges.) It may not be applied as a recovery of prior assistance rendered as long as current need remains unmet. Such income includes the following:

(a) rental income from assigned real property;

(b) disability or annuity income or benefits under an insurance policy;

(c) interest from assigned mortgage;

(d) dividends or interest from assigned stocks or bonds; and

(e) any other assigned asset that may become income-producing.

N.Y. Comp. Codes R. & Regs. Tit. 18 § 352.25