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Children's Savings Accounts Excluded from Benefit Eligibility Calculations

This new law aims to make it easier for low-income families to save for their children's future. The value of special children's savings accounts will not be counted when determining eligibility for social benefits like family assistance, food support, or energy bill aid. This allows families to save for education, a first home, or starting a business for their child without losing access to essential benefits.
Key points
Money in designated children's savings accounts will not be counted as income or assets when applying for social benefits.
This applies to programs such as Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), Supplemental Nutrition Assistance Program (SNAP), and Low-Income Home Energy Assistance Program (LIHEAP).
Funds from these accounts can be used for post-secondary education, purchasing a first home, or capitalizing a business for the child.
These accounts must be held in federally insured financial institutions or managed by non-profit organizations, schools, or universities to ensure security.
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Additional Information
Print number: 117_HR_3378
Sponsor: Rep. Cartwright, Matt [D-PA-8]
Process start date: 2021-05-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CSA OPPORTUNITY Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3378.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-20.

What are the main provisions?

Key points include:

  • Money in designated children's savings accounts will not be counted as income or assets when applying for social benefits.
  • This applies to programs such as Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), Supplemental Nutrition Assistance Program (SNAP), and Low-Income Home Energy Assistance Program (LIHEAP).
  • Funds from these accounts can be used for post-secondary education, purchasing a first home, or capitalizing a business for the child.
  • These accounts must be held in federally insured financial institutions or managed by non-profit organizations, schools, or universities to ensure security.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cartwright, Matt [D-PA-8].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Nutrition, Oversight, and Department Operations.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Benefits Family Education