New Jersey Statutes 43:23-33. Severability, assets not deemed assets for certain purposes
Terms Used In New Jersey Statutes 43:23-33
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
b. Notwithstanding the provisions of any other law to the contrary, the value of assets in an individual’s account under the program shall not be regarded as assets for the purposes of determining eligibility for benefits or the amount of benefits to be provided pursuant to any State or federal law, except that, if the federal law expressly requires that the assets in the accounts be regarded as assets for those purposes, the assets may be taken into consideration when determining eligibility benefits or the amount of benefits, provided further that if the federal law provides discretion to the State in setting standards regarding the amount of assets which many be disregarded in determining benefits, or other factors regarding the assets which impact the eligibility for, or amount of, benefits, the State shall, with respect to assets in the assets in the accounts under the program, set standards which are as favorable as the federal law permits for the individuals with the accounts.
L.2019, c.56, s.21.