DHS 103.06(2)(b)1. 1. If one vehicle is owned, up to $1,500 of equity value is exempt; and

DHS 103.06(2)(b)2. 2. If more than one vehicle is owned, up to $1,500 of equity value of the vehicle with the greatest equity value is exempt. The equity value of the vehicle with the greatest equity value in excess of $1,500 and the equity value of any other vehicle is counted as an asset.

DHS 103.06(2)(bm) (bm) For persons whose eligibility is being determined according to AFDC medically needy financial standards, the following conditions shall apply:

DHS 103.06(2)(bm)1. 1. If one vehicle is owned, it is exempt from consideration as an asset regardless of value;

DHS 103.06(2)(bm)2. 2. If more than one vehicle is owned, a second vehicle is exempt from consideration as an asset if the agency determines that it is necessary for the purpose of employment or to obtain medical care; and

DHS 103.06(2)(bm)3. 3. The equity value of any nonexempt vehicle owned by the applicant is counted as an asset.

DHS 103.06(2)(c) (c) For persons whose eligibility is being determined according to SSI categorically needy or medically needy financial standards, the following conditions shall apply:

DHS 103.06(2)(c)1. 1. If one vehicle is owned it is exempt if it meets one of the following conditions:

DHS 103.06(2)(c)1.a. a. It is necessary for employment.

DHS 103.06(2)(c)1.b. b. It is necessary for medical treatment of a specific or regular medical problem.

DHS 103.06(2)(c)1.c. c. It is modified for operation or transportation of a person with a disability.

DHS 103.06(2)(c)1.d. d. It is necessary because of climate, terrain, distance or similar factors to provide transportation to perform essential daily activities.

DHS 103.06(2)(c)2. 2. If no automobile is exempt under subd. 1., one automobile is not counted as an asset to the extent that its current fair market value does not exceed $4,500. Fair market value in excess of $4,500 counts toward the asset limit.

DHS 103.06(2)(c)3. 3. If more than one vehicle is owned, the equity value of the nonexempt vehicle is counted as an asset.

DHS 103.06(3) (3) Joint accounts and jointly held property.

DHS 103.06(3)(a) (a) Joint accounts. A joint account shall be deemed available to each person whose name is on the account or listed as an owner. The value of a joint savings or checking account shall be determined as follows in determining eligibility for MA:

DHS 103.06(3)(a)1. 1. For persons who receive MA who are not age 65 or over, or not blind or disabled, the division of a joint account shall be determined according to applicable federal law; and

DHS 103.06(3)(a)2. 2. For persons who receive MA who are age 65 or over or who are blind or disabled, joint accounts shall be divided as follows:

DHS 103.06(3)(a)2.a. a. If both owners of the joint account receive MA, equal shares of the joint account shall be included for the purpose of determining MA eligibility; and

DHS 103.06(3)(a)2.b. b. If only one owner of the joint account receives MA, the full amount of the joint account shall be included for the purpose of determining MA eligibility.

DHS 103.06(3)(b) (b) Jointly held property. If the applicant or recipient is a joint owner of property with a person who refuses to sell the property and who is not a legally responsible relative of the applicant or recipient, the property shall not be considered available to the applicant or recipient and may not be counted as an asset. If the property is available to the applicant or recipient, it shall be divided equally between the joint owners.

DHS 103.06(4) (4) Homestead property.

DHS 103.06(4)(a) (a) A home owned and lived in by an applicant or recipient is an exempt asset.

DHS 103.06(4)(b) (b) Net proceeds from the sale of homestead property shall be treated as assets as follows:

DHS 103.06(4)(b)1. 1. For AFDC-related MA the proceeds are considered available assets in the month of receipt and, if retained, in any of the following months; and

DHS 103.06(4)(b)2. 2. For SSI-related MA the proceeds are disregarded if they are placed in an escrow account and used to purchase another home within 3 months. After 3 months the proceeds are considered available.

DHS 103.06(5) (5) Non-homestead real property.

DHS 103.06(5)(a) (a) If the equity value of the non-homestead property together with all other assets does not exceed the asset limit, the person may retain the property and be eligible for MA.

DHS 103.06(5)(b) (b) If the value of non-homestead property together with the value of the other assets exceeds the asset limit, the non-homestead property need not be counted as an asset if it produces a reasonable amount of income. In this paragraph, “reasonable amount of income”means a fair return considering the value and marketability of the property.