Stephanie Tubbs Jones Assets for Independence Reauthorization Act of 2019
This bill reauthorizes through FY2024 and otherwise makes changes to certain demonstration projects that fund individual development accounts (IDAs). (IDAs are matched savings accounts through which low-income individuals may save targeted amounts for qualifying purposes such as first-time home ownership or post-secondary education.)
Specifically, the bill (1) expands qualifying expenses for purposes of education and home replacement, repair, or improvement; (2) allows public housing agencies to participate in demonstration projects; (3) increases income eligibility limits; and (4) makes other changes with respect to terminated projects, reporting, and other requirements.
The Department of Health and Human Services must give special consideration to applications from certain categories of individuals, including individuals who are or have been in foster care. In addition, an individual who is a recent or current victim of domestic violence shall not, for purposes of project participation, fail to qualify as a first-time homebuyer by reason of having a co-ownership interest in a principal residence with a person who committed domestic violence against the individual.