N.M. Stat. § 27-2B-8
Resources.
A. Liquid and nonliquid resources owned by the benefit group shall be counted in
the eligibility determination.
B. A benefit group may at a maximum own the following resources:
(1)
two thousand dollars ($2,000) in nonliquid resources;
(2)
one thousand five hundred dollars ($1,500) in liquid resources, excluding
funds deposited in an individual development account established pursuant to the
Individual Development Account Act or a qualified tuition program, as defined in Section
529 of the Internal Revenue Code of 1986;
(3)
the value of the principal residence of the participant;
(4)
the value of burial plots and funeral contracts for family members; and
(5)
the value of work-related equipment up to one thousand dollars ($1,000).
C. Vehicles owned by the benefit group shall not be considered in the determination
of resources attributed to the benefit group.