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Resources

NMSA 1978, § 27-2D-6
in effect
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27-2D-6. Resources 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. Laws 2003, ch. 317, § 6; 2006, ch. 96, § 17; 2007, ch. 349, § 17; 2019, ch. 225, § 2.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18527/index.do#!b/27-2D-6Fetched: 10/20/2026

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