States utilize BBCE to adopt less restrictive income and asset tests
and to better coordinate SNAP with other state-operated programs.
The 30-month substantial-improvement rule, the 31-month working-capital safe harbor, and the 70% and 90% asset tests
combine to provide a framework by which a QOF or subsidiary business can enter into a construction or rehabilitation project with a degree of certainty as to how those projects will comply with the requirements of Sec.
With government welfare programs instituting asset tests
as low as $1,000, low-income households who participate in state-run retirement auto-IRA plans could lose eligibility for benefits.
But, for adults under 65 using the new Medicaid expansion coverage, the ACA killed asset tests
. States now look only at applicants' income when deciding whether adults under 65 are eligible for Medicaid.
Prior to 2010, eight states and Washington, DC, had waived asset tests
, and Minnesota had set asset limits to be higher than the new federal minimum.
The results also indicate that eliminating asset tests
may increase the likelihood of receiving cancer screenings by helping low-income individuals remain enrolled in Medicaid.
[section] 1.1471-5T(e)(5)(i) (B)(1), an expanded affiliated group (EAG) will be a nonfinancial group if the EAG satisfies certain passive income and asset tests
(among other things).
The mid-Atlantic state has a state earned income tax credit; has eliminated asset tests
for welfare programs like Temporary Aid for Needy Families and the Supplemental Nutrition Assistance Program (food stamps); requires full-day kindergarten; and has a minimum wage higher than the federal level, among a variety of generally liberal policy measures CFED endorses.
The authors conclude that one-fourth to one-third of the increased take-up was the result of simplified enrollment and more relaxed asset tests
that were implemented during this period in an attempt to increase program participation among the working poor.
cost Illinois taxpayers nearly $1 million a year, Mullany said.
Use of credit agencies wedded to net tangible asset tests
undermines these very policies by disadvantaging asset-light Welsh companies with the ambition to borrow to invest in growth.
The House bill imposes tougher income and asset tests
that would cause an estimated 3 million low-income Americans to lose their food stamps.