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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 12, 2016.
Children's Savings Accounts Offer Parents Plenty of Reasons to Understand and Invest in Tuition Yearly Act or the CSA OPPORTUNITY Act
This bill amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act (SSAct) to direct a state receiving a TANF grant to disregard the value of any interest in, or distribution from, a qualified tuition program, as well as the value of a child's savings account, in determining individual or family TANF eligibility or the amount or type of assistance.
SSAct title XVI (Supplemental Security Income) (SSI) is amended to exclude from an individual's resources for SSI eligibility or benefit purposes the value of any interest in, or distribution from, a qualified tuition program as well as the value of a child's savings account.
The Food and Nutrition Act of 2008 is amended to direct the Department of Agriculture to exclude any child's savings accounts from resources for eligibility and benefit purposes under the supplemental nutrition assistance program (SNAP, formerly the food stamp program).
The Low-Income Home Energy Assistance Act of 1981 is amended to exclude from household income any child's savings accounts from resources for eligibility and benefit purposes under the low-income home energy assistance program.
The bill prescribes penalties for noncompliance.