INVENTORY
Products or items used in a SELF-EMPLOYMENT business which can be identified as related to a particular sale or service; raw materials or parts which become part of an item for sale; or items purchased for resale. Also see CAPITAL ASSET and CAPITAL EXPENDITURE in 0002.09 (Glossary: Calendar Month...), SUPPLIES in 0002.65 (Glossary: Substantial...).

IRA
Individual Retirement Account. A savings account recognized by the Internal Revenue Service as being for retirement purposes.

IRCA
See IMMIGRATION REFORM AND CONTROL ACT in 0002.31 (Glossary: Honoraria...).

IRREGULAR INCOME
SNAP: See NON-RECURRING INCOME in 0002.45 (Glossary: Netherlands’ Act…).

IRREVOCABLE TRUST
A TRUST which allows neither the person originating the trust nor the beneficiary to change the provisions of the trust.

IRTS
See INTENSIVE RESIDENTIAL TREATMENT SERVICES in 0002.33 (Glossary: Independent…).

ISSUANCE CYCLE
The length of time between issuing benefits.

IV-D AGENCY
An agency responsible for CHILD SUPPORT enforcement.

IV-D UNIT
A unit within a COUNTY AGENCY that is responsible for establishing PATERNITY and collecting CHILD SUPPORT according to TITLE IV-D of the Social Security Act.

IV-E ADOPTION
Adoptions that are subsidized under Title IV-E of the Social Security Act.

JOB CORPS
A Workforce Innovation and Opportunity Act (WIOA) program providing education and training to people ages 16 to 24.

JOB SEARCH
MFIP: A component developed with the CLIENT by the EMPLOYMENT SERVICES provider.

SNAP: A SNAP E&T component included in a SNAP client's EMPLOYABILITY DEVELOPMENT PLAN.

JOB SERVICE
An office within the Minnesota Department of Employment and Economic Development with branches throughout the state helping people find employment.

JOINT OWNERSHIP
Two or more people owning the same piece of property. Each joint owner has rights to the entire property, including the right to survivorship. Also see MULTIPLE OWNERSHIP in 0002.43 (Glossary: Money...), TENANTS-IN-COMMON in 0002.65 (Glossary: Substantial...).

KEOGH PLAN
A savings account recognized by the Internal Revenue Service for the retirement of self-employed people.

KNOWN TO THE AGENCY
Information about a unit’s circumstances that an agency receives directly from the unit or discovers from sources such as MAXIS, PRISM, MMIS, and MEC2. This does not include information discovered directly from the METS system. For this definition, “agency” includes:

• State of Minnesota, County or Tribal Nation human service agencies that administer child care, cash, food, health care programs, or employment services; and
• Agencies contracted with or who have an interagency agreement with any of the above to administer financial, health care, child care programs, or employment services.

For more information, see 0007.15 (Unscheduled Reporting of Changes – Cash), 0007.15.03 (Unscheduled Reporting of Changes - SNAP), 0008 (Changes in Circumstances), 0008.06.01 (Implementing Changes - Program Provisions).

LAG QUARTERS
Current year work quarters and the year preceding it which may not appear in the work quarter history because of the employer report, or the self-employment tax return has not been processed by the Social Security Administration (SSA). The number of lag quarters could be up to 7 quarters depending on when a request for work quarter history is processed. See 0031.39 (Verifying Social Security Credits for Noncitizen Eligibility for Cash and Food Programs).

LAWFUL PERMANENT RESIDENT (LPR)
Non-citizens who have been granted permission to live and work in the United States permanently. See 0031.09 (Lawful Permanent Residents)..

LAYETTE
Clothing and equipment for a new baby.