S 3904
Helping More Families Save Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Helping More Families Save Act establishes a pilot program designed to improve family self-sufficiency. It does this by creating escrow accounts for eligible families receiving rental assistance, where increases in rent due to earned income are automatically deposited. The program aims to help families build savings and achieve greater financial stability, with specific guidelines on eligible entities, income limits, and family participation. A study will be conducted to evaluate the program’s effectiveness after 10 years.
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