HOUSE DOCKET, NO. 487        FILED ON: 1/13/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 221

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Chynah Tyler

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

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

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Chynah Tyler

7th Suffolk

1/13/2023


HOUSE DOCKET, NO. 487        FILED ON: 1/13/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 221

By Representative Tyler of Boston, a petition (accompanied by bill, House, No. 221) 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.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 274 OF 2021-2022.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

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

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

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.