[Federal Register Volume 60, Number 27 (Thursday, February 9, 1995)]
[Notices]
[Page 7783]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-3241]
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DEPARTMENT OF HEALTH AND HUMAN SERVICES
Rescission of Social Security Ruling (SSR) 89-5p, Title XVI:
Treatment of Installment Sales Contract in Home Replacement Situations
AGENCY: Social Security Administration, HHS.
ACTION: Notice.
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SUMMARY: The Commissioner of Social Security gives notice of the
rescission of SSR 89-5p.
EFFECTIVE DATE: February 9, 1995.
FOR FURTHER INFORMATION CONTACT: Joanne K. Castello, Division of
Regulations and Rulings, Social Security Administration, 6401 Security
Boulevard, Baltimore, MD 21235, (410) 965-1711.
SUPPLEMENTARY INFORMATION: Social Security Rulings make available to
the public precedential decisions relating to the Federal old-age,
survivors, disability, supplemental security income, and black lung
benefits programs. Social Security Rulings may be based on case
decisions made at all administrative levels of adjudication, Federal
court decisions, Commissioner's decisions, opinions of the Office of
the General Counsel, and other policy interpretations of the law and
regulations.
In September 1989, the Social Security Administration (SSA) changed
its national practice regarding the treatment of promissory notes or
similar installment sales contracts in home replacement situations and
published SSR 89-5p (C.E., 1989, p. 71), effective September 6, 1989.
The Ruling explained that the value of an installment sales contract
that met certain conditions constituted a ``proceed'' from the sale of
an excluded home and could be excluded from resources under the
supplemental security income program. 20 CFR 416.1212(d). In addition
to the value of the installment sales contract itself, any money
proceeds of the sale of the home, including a down payment and the
portion of any installment amount constituting payment against the
principal, could be excluded resources under the conditions specified
in the Ruling.
SSA regulations published on August 23, 1994, at 59 FR 43283,
codify SSR 89-5p and reflect more completely SSA's policy on the
treatment of proceeds from the sale of an excluded home. Consequently,
SSR 89-5p is obsolete and is rescinded.
(Catalog of Federal Domestic Assistance, Program 93.807,
Supplemental Security Income.)
Dated: February 1, 1995.
Shirley S. Chater,
Commissioner of Social Security.
[FR Doc. 95-3241 Filed 2-8-95; 8:45 am]
BILLING CODE 4190-29-P
