Bill > H221

This bill aims to prevent funds deposited in children's savings accounts from being counted as assets against cash assistance benefits received by the account holders. Specifically, the bill requires the Department of Transitional Assistance to allow funds deposited in children's savings accounts or other long-term asset-building accounts for educational purposes to accumulate without being included as countable assets for the purpose of determining eligibility for transitional aid to families with dependent children. This change is intended to help recipients save for higher education or other expenses that the department deems beneficial.