2002 Session

Budget Amendments - HB30 (Conference Report)

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TANF for Investment Accounts

Item 354 #11c

Item 354 #11c

First Year - FY2003 Second Year - FY2004
Health And Human Resources
Social Services, Department of FY2003 $200,000 FY2004 $400,000 NGF

Page 275, line 40, strike "$128,093,876" and insert "$128,293,876".
Page 275, line 40, strike "$126,093,876" and insert "$126,493,876".

(This amendment provides federal TANF funds for House Bill 289, which would allow welfare recipients to accumulate up to $5,000 per household in an investment account (such as mutual funds, stocks, bonds, college funds, retirement accounts, or other similar investments) without having the amount counted as an asset or income for eligibility purposes. Currently, only savings accounts up to $5,000 are permitted.)