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Bill > S37


MA S37

Promoting financial stability and asset development


summary

Introduced
01/23/2017
In Committee
03/29/2018
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation to promote financial stability and asset development. Children, Families and Persons with Disabilities.

AI Summary

This bill aims to promote financial stability and asset development. Key provisions include: 1. Requiring the Department of Transitional Assistance to inform low-income parents about vocational education programs and provide counseling on how to access these programs without incurring debt. 2. Allowing individuals to satisfy their work program requirements by participating in vocational educational training programs, and granting extensions of time limits to enable them to complete such programs. 3. Eliminating resource limits for those eligible for the Emergency Aid to Elders, Disabled and Children program to encourage asset development and prevent homelessness. 4. Establishing a work expense deduction within the Transitional Aid to Families with Dependent Children program to cover work-related costs like transportation and clothing. 5. Exempting payments from state or private work-study programs and state education/training grants from being counted as income or resources when determining eligibility for the Emergency Aid and Transitional Aid programs. 6. Allowing up to $10,000 in an Individual Asset Account to be disregarded when determining eligibility and benefits for the Emergency Aid and Transitional Aid programs, to encourage asset development and prevent homelessness.

Committee Categories

Budget and Finance, Health and Social Services

Sponsors (9)

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 03/29/2018)

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