Excluding 529 College Savings Plan Accounts from Oklahoma Public Assistance Asset Limit Tests

Like many states, Oklahoma uses asset limit tests when determining eligibility for various state-administered public benefit programs. In 2007, the Center for Social Development initiated work with the Oklahoma Treasury to pursue an exclusion of the Oklahoma College Savings Plan (OCSP) assets from Oklahoma state asset limit tests. This brief details the strategy pursued, the progress of the resulting bill through the Senate, and the successful outcome to exclude OCSP accounts as an available resource in determining eligibility for TANF, food stamps, and Low Income Home Energy Assistance Program (LIHEAP). Other states seeking to reform asset limits might learn from this experience and benefit from the resources provided.

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