Resources are not counted when determining if a household is eligible for LIHEAP.
55 Pa. Code § 601.82(4)(ix); LIHEAP State Plan § 601.82(4)(ix)
NOTE: Monthly interest income of more than $25 from bank accounts, individual retirement accounts (IRAs), certificates of deposit (CDs), or dividends from investments is considered unearned income in the month it was posted. Total monthly interest or dividend income of $25 or less is not counted. Applicants do not have to report monthly interest income of $25 or less.
Interest of more than $25 earned from a certificate of deposit is counted as income in the month in which it is redeemed. The original amount invested in the CD is considered a resource and is not counted.
Examples:
If an applicant buys a $500 CD in July and redeems it in December for $510, the CAO excludes the $10 in interest.
If an applicant buys a $500 CD in July and redeems it in December for $530, the CAO counts $5 as unearned income for December.
For more information on excluded income, see Section 650.6.
Reissued February 15, 2013, replacing September 26, 2011