ASSET INDEXATION, EDUCATION, AND RETIREMENT ACCOUNTS.

SEC. 4104. ASSET INDEXATION, EDUCATION, AND RETIREMENT ACCOUNTS.(a) Adjusting Countable Resources for Inflation.—Section (5)(g) of the Food and Nutrition Act of 2008 (7 U.S.C. 2014(g)) is amended—(1) by striking “(g)(1) The Secretary” and inserting the following:“(g) Allowable Financial Resources.—“(1) Total amount.—“(A) In general.—The Secretary”.(2) in subparagraph (A) (as so designated by paragraph (1))—(A) by inserting “(as adjusted in accordance with subparagraph (B))” after “$2,000”; and(B) by inserting “(as adjusted in accordance with subparagraph (B))” after “$3,000”; and(3) by adding at the end the following:“(B) Adjustment for inflation.—“(i) In general.—Beginning on October 1, 2008, and each October 1 thereafter, the amounts specified in subparagraph (A) shall be adjusted and rounded down to the nearest $250 increment to reflect changes for the 12-month period ending the preceding June in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor.“(ii) Requirement.—Each adjustment under clause (i) shall be based on the unrounded amount for the prior 12-month period.”.(b) Exclusion of Retirement Accounts From Allowable Financial Resources.—(1) In general.—Section 5(g)(2)(B)(v) of the Food and Nutrition Act of 2008 (7 U.S.C. 2014(g)(2)(B)(v)) is amended by striking “or retirement account (including an individual account)” and inserting “account”.(2) Mandatory and discretionary exclusions.—Section 5(g) of the Food and Nutrition Act of 2008 (7 U.S.C. 2014(g)) is amended by adding at the end the following:122 STAT. 1862 “(7) Exclusion of retirement accounts from allowable financial resources.—“(A) Mandatory exclusions.—The Secretary shall exclude from financial resources under this subsection the value of—“(i) any funds in a plan, contract, or account, described in sections 401(a), 403(a), 403(b), 408, 408A, 457(b), and 501(c)(18) of the Internal Revenue Code of 1986 and the value of funds in a Federal Thrift Savings Plan account as provided in section 8439 of title 5, United States Code; and“(ii) any retirement program or account included in any successor or similar provision that may be enacted and determined to be exempt from tax under the Internal Revenue Code of 1986.“(B) Discretionary exclusions.—The Secretary may exclude from financial resources under this subsection the value of any other retirement plans, contracts, or accounts (as determined by the Secretary).”.(c) Exclusion of Education Accounts From Allowable Financial Resources.—Section 5(g) of the Food and Nutrition Act of 2008 (7 U.S.C. 2014(g)) (as amended by subsection (b)) is amended by adding at the end the following:“(8) Exclusion of education accounts from allowable financial resources.—“(A) Mandatory exclusions.—The Secretary shall exclude from financial resources under this subsection the value of any funds in a qualified tuition program described in section 529 of the Internal Revenue Code of 1986 or in a Coverdell education savings account under section 530 of that Code.“(B) Discretionary exclusions.—The Secretary may exclude from financial resources under this subsection the value of any other education programs, contracts, or accounts (as determined by the Secretary).”.