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

This bill (HD 519) changes how savings in children's accounts affect cash assistance eligibility for families receiving Transitional Aid to Families with Dependent Children (TAFDC). It requires the Department of Transitional Assistance to exclude funds deposited in designated children’s savings accounts (for higher education or other approved expenses) from asset limits used to determine benefit eligibility. Specifically, these funds will no longer count as "countable assets" under the existing regulation (106 CMR 204.120). The policy directly helps TAFDC recipients save for their children’s future without risking loss of benefits due to account growth.