[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3904 Introduced in Senate (IS)]
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118th CONGRESS
2d Session
S. 3904
To establish a pilot program to improve the family self-sufficiency
program, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 11, 2024
Mr. Reed (for himself and Mrs. Britt) introduced the following bill;
which was read twice and referred to the Committee on Banking, Housing,
and Urban Affairs
_______________________________________________________________________
A BILL
To establish a pilot program to improve the family self-sufficiency
program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Helping More Families Save Act''.
SEC. 2. FAMILY SELF-SUFFICIENCY ESCROW EXPANSION PILOT PROGRAM.
Section 23 of the United States Housing Act of 1937 (42 U.S.C.
1437u) is amended by adding at the end the following:
``(p) Escrow Expansion Pilot Program.--
``(1) Definitions.--In this subsection:
``(A) Covered family.--The term `covered family'
means an eligible family enrolled in the pilot program
established under this subsection.
``(B) Escrow allocation.--The term `escrow
allocation' means an account awarded under this
subsection for which the awarded eligible entity shall
use to create escrow accounts in accordance with
paragraph (3).
``(2) Establishment.--The Secretary shall establish a pilot
program under which the Secretary, through a competitive
process, awards escrow allocations to eligible entities to
establish and fund escrow accounts in accordance with this
subsection.
``(3) Escrow accounts.--
``(A) In general.--An eligible entity awarded an
escrow allocation under this subsection--
``(i) shall establish, on behalf of each
covered family, an interest-bearing escrow
account and place into the account an amount
equal to any increase in the amount of rent
paid by the family in accordance with the
provisions of section 3 or 8(o), as applicable,
that is attributable to increases in earned
income by the covered family; and
``(ii) notwithstanding any other provision
of law, may use funds it controls under section
8 or 9 for purposes of making the escrow
deposit for covered families assisted under, or
residing in units assisted under, section 8 or
9 of this title, respectively, provided such
funds are offset by the increase in the amount
of rent paid by the covered family.
``(B) Income limitation.--The Secretary shall not
escrow any amounts for any covered family whose
adjusted income exceeds 80 percent of the area median
income.
``(C) Withdrawals.--Amounts in an escrow account
established for a covered family under this paragraph
may be withdrawn by the covered family after the
covered family ceases to receive income assistance
under Federal or State welfare programs, after 5 years
from the date of the establishment of the escrow
account, and under other circumstances in which the
Secretary determines an exception for good cause is
warranted.
``(4) Effect of increases in family income.--Any increase
in the earned income of a covered family during the enrollment
of the family in the pilot program established under this
subsection may not be considered as income or a resource for
purposes of eligibility of the family for other benefits, or
amount of benefits payable to the family, under any program
administered by the Secretary.
``(5) Application.--
``(A) In general.--An eligible entity seeking an
award under this subsection shall submit to the
Secretary an application--
``(i) at such time, in such manner, and
containing such information as the Secretary
may require; and
``(ii) that includes the number of proposed
covered families to be served by the eligible
entity under this subsection.
``(B) Geographic and entity variety.--The Secretary
shall ensure that eligible entities awarded escrow
allocations under this subsection--
``(i) are located across various regions of
the United States and in both urban and rural
areas; and
``(ii) vary by size and type, including
both public housing agencies and private owners
of projects receiving project-based rental
assistance under section 8.
``(6) Notification and opt-out.--An eligible entity
receiving an award under this subsection shall--
``(A) notify covered families of their enrollment
in the pilot program under this subsection;
``(B) provide covered families with a detailed
description of the pilot program, including how the
pilot program will impact their rent and finances; and
``(C) provide those covered families with the
ability to elect not to participate in the pilot
program--
``(i) not less than 1 month before the date
on which the escrow account is established
under paragraph (3); and
``(ii) at any point during the duration of
the pilot program.
``(7) Number of escrow allocations.--
``(A) In general.--The Secretary shall award not
more than 5,000 escrow allocations.
``(B) Number of entities.--The Secretary shall seek
to award escrow allocations to not less than 25
eligible entities.
``(8) Maximum rents.--During the term of participation by a
covered family in the pilot program under this subsection, the
amount of rent paid by the enrolled family shall be calculated
under the rental provisions of section 3 or 8(o), as
applicable.
``(9) Pilot program timeline.--
``(A) Awards.--Not later than 18 months after the
date of enactment of this subsection, the Secretary
shall award escrow allocations.
``(B) Establishment of accounts.--An eligible
entity awarded an escrow allocation under this
subsection shall--
``(i) not later than 6 months after
receiving the escrow allocation, establish
escrow accounts under paragraph (3) for covered
families; and
``(ii) maintain those escrow accounts for
not less than 5 years and not more than 7 years
after the date on which the escrow account is
established.
``(C) Access to funds.--A covered family shall be
able to access funds in an escrow account established
under paragraph (3)--
``(i) not earlier than the date that is 5
years after, and not later than the date that
is 7 years after, the date on which the escrow
account is established; or
``(ii) on the date the covered family
ceases to receive housing assistance under
Federal or State programs, if that date is less
than 5 years after the date on which the escrow
account is established.
``(10) Nonparticipation and housing assistance.--
``(A) In general.--Assistance under section 8 or 9
for a family that elects not to participate in the
pilot program shall not be delayed by reason of such
election.
``(B) No termination.--Housing assistance may not
be terminated as a consequence of participating in the
pilot program for any period of time.
``(11) Study.--Not later than 7 years after the date of
enactment of this subsection, the Secretary shall conduct a
study and submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives a report on outcomes
for covered families under the pilot program under this
subsection, which shall evaluate the effectiveness of the pilot
program in assisting families to achieve economic independence
and self-sufficiency, and the impact supportive services, or
the lack thereof, had on individual incomes.
``(12) Termination.--The pilot program under this
subsection shall terminate on the date that is 10 years after
the date of enactment of this subsection.
``(13) Authorization of appropriations.--
``(A) In general.--There is authorized to
appropriated to the Secretary for fiscal year 2025
$2,000,000 to carry out this subsection.
``(B) Availability.--Any amounts appropriated under
this subsection shall remain available until
expended.''.
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