S 970

The Helping More Families Save Act establishes a pilot program to improve family self-sufficiency. It aims to expand the Family Self-Sufficiency program by creating escrow accounts for eligible families receiving Section 8 or 9 housing assistance. These accounts would hold increases in rent attributable to earned income, allowing families to access these funds after meeting specific criteria, such as ceasing welfare assistance. The program also includes provisions to ensure geographic and entity diversity among participating organizations and to track the program’s effectiveness.