An Act preventing funds deposited in children’s savings accounts from counting against cash assistance benefits

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act preventing funds deposited in children’s savings accounts from counting against cash assistance benefits

An Act preventing funds deposited in children’s savings accounts from counting against cash assistance benefits By Representative Tyler of Boston, a petition (accompanied by bill, House, No.

What This Bill Does

• An Act preventing funds deposited in children’s savings accounts from counting against cash assistance benefits By Representative Tyler of Boston, a petition (accompanied by bill, House, No.
• 288) of Chynah Tyler relative to preventing funds deposited in children’s savings accounts from counting against cash assistance benefits.
• Children, Families and Persons with Disabilities.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

An Act preventing funds deposited in children’s savings accounts from counting against cash assistance benefits
By Representative Tyler of Boston, a petition (accompanied by bill, House, No. 288) of Chynah Tyler relative to preventing funds deposited in children’s savings accounts from counting against cash assistance benefits. Children, Families and Persons with Disabilities.

Current Bill Text

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Bill H.288

SECTION 1. Notwithstanding any general or special law or regulation to the contrary, the department of transitional assistance shall allow funds deposited by a recipient of cash assistance under transitional aid to families with dependent children in an account designated in a child’s name intended to pay for higher education such as a children’s savings account or other long-term asset-building account established for a child and annually grown over the course of his or her lifetimes to accumulate assets outside of the asset limit in said accounts. The funds deposited in said accounts shall be used to help recipients save for the costs related to higher education or any other expense that the department determines will aid a recipient. The funds deposited in said accounts shall not be included as a countable asset under 106 CMR 204.120.

SECTION 2. This act shall take effect upon its passage.

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