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House Bill 1502, passed by the 1993 General Assembly, amended Section 63.1-110 of the Code of Virginia, instructed the Department of Social Services to seek a waiver of federal regulations to modify resource rules. A federal waiver of 45 Code of Federal Regulations 233.30(a)(3)(i)(B) has been approved by the Department of Health and Human Services for statewide implementation to waiver the federal resource regulations. This regulation will adopt the provisions of House Bill 1502 by adding a savings account of up to $5,000 for the purposes of education or down payment on a residence to those items specified as allowable resources. Ownership of this type of account will not affect eligibility for Aid to Families with Dependent Children (AFDC).
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