N.M. Admin. Code § 2.79.1.14

Current through Register Vol. 35, No. 21, November 5, 2024

Section 2.79.1.14 - ELIGIBLE ACCOUNT OWNERS

A. To participate as an account owner in an individual development account program approved by the director an individual, at the time of application, shall be a member of a household located in New Mexico whose adjusted gross income is not in excess of 200 percent of the federal poverty guidelines and shall:

(1) have earned income;

(2) be eighteen years of age or older; and

(3) be a citizen or legal resident of the United States.

B. A child in foster care is an eligible individual if he:

(1) is sixteen years of age or older;

(2) has earned income that is no more than 200 percent of the federal poverty guidelines when the child's income is evaluated separately from the income of his foster household;

(3) is a citizen or legal resident of the United States; and

(4) is a resident of New Mexico.

N.M. Admin. Code § 2.79.1.14

2.79.1.14 NMAC - N, 4/29/2005