An Act to promote economic mobility through matched savings

This bill creates a matched-savings program in Massachusetts designed to help low-income households build assets and improve their economic standing. It allows eligible families, defined as those earning up to 80% of the local median income, to open accounts where a nonprofit fiscal intermediary matches their savings toward specific goals. These approved goals include paying for education or job training, helping children with extracurricular costs, purchasing or renting a home, and starting a small business. The program requires participants to work with community organizations to create a savings plan that includes financial education and counseling.