7 AAC 40.300 - Income

(a) In this chapter

(1) "income" means any property, money, or service received by an applicant, together with the applicant's spouse under 7 AAC 40.240, which can be used, directly or indirectly to meet the applicant's need for food, clothing, and shelter;

(2) "earned income" means wages or other compensation paid by an employer in exchange for service rendered; in the case of self-employed persons, "earned income" means gross earnings less the cost of doing business;

(3) "unearned income" means any income that is not earned, including income from annuities, pensions or retirement payments, disability benefits, veteran's compensation and pensions, workers compensation payments, social security payments, black lung benefits, assistance payments such as SSI, payments under a federally approved Temporary Assistance for Needy Families (TANF) grant, Bureau of Indian Affairs general assistance, railroad retirement, unemployment compensation, insurance payments, support and alimony, gifts and prizes, inheritances, rent, dividends, royalties, interest, and any income considered available to the individual under 7 AAC 40.240.

(b) Unless otherwise specified in this chapter, income not received in cash is valued at the current fair market value of that which is received.

(c) Income is determined on a monthly basis except that earnings from self-employment are computed on a yearly basis and then divided by 12 to determine monthly income. Unless otherwise specified, any property, money, or service within (a) of this section is income in the month of receipt but is a resource in any calendar month after the month of receipt.

(d) For the purpose of determining eligibility of an applicant who does not receive monthly SSI payments, income is that received or expected to be received in the month for which assistance is to be provided.

(e) For an applicant who receives monthly SSI payments, income is equal to the applicable SSI payment standard for the month for which assistance under this chapter is provided, plus any income considered available to the applicant under 7 AAC 40.330(b) (1) that is not counted in determining the SSI payment.

Notes

7 AAC 40.300

Eff. 5/12/82, Register 82; am 9/30/83, Register 87; am 4/6/91, Register 118; am 10/1/93, Register 127; am 10/10/96, Register 140; am 10/1/2001, Register 159; am 9/20/2002, Register 163; am 6/27/2004, Register 170

Authority:AS 47.05.010

AS 47.25.430

AS 47.25.435

AS 47.25.460