A bill to amend the Assets for Independence Act (Title IV of the Community Opportunities, Accountability, and Training and Educational Services Act of 1998) to enhance program flexibility, and for other purposes.
Excludes funds attributable to matching contributions by qualified entities from IDA emergency withdrawals.
Includes among eligible grantees low-income credit unions and community development financial institutions.
Revises requirements for withdrawals from IDA accounts for the purchase of a home.
Increases the amount of funds set aside for economic literacy training and administrative costs.
Includes a Federal poverty measure among alternative eligibility criteria.
Declares that funds in an IDA shall be disregarded entirely for purposes of determining eligibility for Federal programs based on need.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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