New Mexico § 27-2B-8 Resources

New Mexico Statutes

§ 27-2B-8 — Resources

New Mexico § 27-2B-8

Ch. 27Public Assistance

Art. 2BNew Mexico Works Act

This text of New Mexico § 27-2B-8 (Resources) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 27-2B-8 (2026).

Text

A. Liquid and nonliquid resources owned by the benefit group shall be counted in the eligibility determination. B. A benefit group may at a maximum own the following resources:

(1)two thousand dollars ($2,000) in nonliquid resources;

(2)one thousand five hundred dollars ($1,500) in liquid resources, excluding funds deposited in an individual development account established pursuant to the Individual Development Account Act or a qualified tuition program, as defined in Section 529 of the Internal Revenue Code of 1986;

(3)the value of the principal residence of the participant;

(4)the value of burial plots and funeral contracts for family members; and (5) the value of work-related equipment up to one thousand dollars ($1,000). C. Vehicles owned by the benefit group shall not be considere

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A. Liquid and nonliquid resources owned by the benefit group shall be counted in the eligibility determination. B. A benefit group may at a maximum own the following resources: (1) two thousand dollars ($2,000) in nonliquid resources; (2) one thousand five hundred dollars ($1,500) in liquid resources, excluding funds deposited in an individual development account established pursuant to the Individual Development Account Act or a qualified tuition program, as defined in Section 529 of the Internal Revenue Code of 1986; (3) the value of the principal residence of the participant; (4) the value of burial plots and funeral contracts for family members; and (5) the value of work-related equipment up to one thousand dollars ($1,000). C. Vehicles owned by the benefit group shall not be considered in the determination of resources attributed to the benefit group.