[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3904 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 3904

  To establish a pilot program to improve the family self-sufficiency 
                    program, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 11, 2024

 Mr. Reed (for himself and Mrs. Britt) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To establish a pilot program to improve the family self-sufficiency 
                    program, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Helping More Families Save Act''.

SEC. 2. FAMILY SELF-SUFFICIENCY ESCROW EXPANSION PILOT PROGRAM.

    Section 23 of the United States Housing Act of 1937 (42 U.S.C. 
1437u) is amended by adding at the end the following:
    ``(p) Escrow Expansion Pilot Program.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Covered family.--The term `covered family' 
                means an eligible family enrolled in the pilot program 
                established under this subsection.
                    ``(B) Escrow allocation.--The term `escrow 
                allocation' means an account awarded under this 
                subsection for which the awarded eligible entity shall 
                use to create escrow accounts in accordance with 
                paragraph (3).
            ``(2) Establishment.--The Secretary shall establish a pilot 
        program under which the Secretary, through a competitive 
        process, awards escrow allocations to eligible entities to 
        establish and fund escrow accounts in accordance with this 
        subsection.
            ``(3) Escrow accounts.--
                    ``(A) In general.--An eligible entity awarded an 
                escrow allocation under this subsection--
                            ``(i) shall establish, on behalf of each 
                        covered family, an interest-bearing escrow 
                        account and place into the account an amount 
                        equal to any increase in the amount of rent 
                        paid by the family in accordance with the 
                        provisions of section 3 or 8(o), as applicable, 
                        that is attributable to increases in earned 
                        income by the covered family; and
                            ``(ii) notwithstanding any other provision 
                        of law, may use funds it controls under section 
                        8 or 9 for purposes of making the escrow 
                        deposit for covered families assisted under, or 
                        residing in units assisted under, section 8 or 
                        9 of this title, respectively, provided such 
                        funds are offset by the increase in the amount 
                        of rent paid by the covered family.
                    ``(B) Income limitation.--The Secretary shall not 
                escrow any amounts for any covered family whose 
                adjusted income exceeds 80 percent of the area median 
                income.
                    ``(C) Withdrawals.--Amounts in an escrow account 
                established for a covered family under this paragraph 
                may be withdrawn by the covered family after the 
                covered family ceases to receive income assistance 
                under Federal or State welfare programs, after 5 years 
                from the date of the establishment of the escrow 
                account, and under other circumstances in which the 
                Secretary determines an exception for good cause is 
                warranted.
            ``(4) Effect of increases in family income.--Any increase 
        in the earned income of a covered family during the enrollment 
        of the family in the pilot program established under this 
        subsection may not be considered as income or a resource for 
        purposes of eligibility of the family for other benefits, or 
        amount of benefits payable to the family, under any program 
        administered by the Secretary.
            ``(5) Application.--
                    ``(A) In general.--An eligible entity seeking an 
                award under this subsection shall submit to the 
                Secretary an application--
                            ``(i) at such time, in such manner, and 
                        containing such information as the Secretary 
                        may require; and
                            ``(ii) that includes the number of proposed 
                        covered families to be served by the eligible 
                        entity under this subsection.
                    ``(B) Geographic and entity variety.--The Secretary 
                shall ensure that eligible entities awarded escrow 
                allocations under this subsection--
                            ``(i) are located across various regions of 
                        the United States and in both urban and rural 
                        areas; and
                            ``(ii) vary by size and type, including 
                        both public housing agencies and private owners 
                        of projects receiving project-based rental 
                        assistance under section 8.
            ``(6) Notification and opt-out.--An eligible entity 
        receiving an award under this subsection shall--
                    ``(A) notify covered families of their enrollment 
                in the pilot program under this subsection;
                    ``(B) provide covered families with a detailed 
                description of the pilot program, including how the 
                pilot program will impact their rent and finances; and
                    ``(C) provide those covered families with the 
                ability to elect not to participate in the pilot 
                program--
                            ``(i) not less than 1 month before the date 
                        on which the escrow account is established 
                        under paragraph (3); and
                            ``(ii) at any point during the duration of 
                        the pilot program.
            ``(7) Number of escrow allocations.--
                    ``(A) In general.--The Secretary shall award not 
                more than 5,000 escrow allocations.
                    ``(B) Number of entities.--The Secretary shall seek 
                to award escrow allocations to not less than 25 
                eligible entities.
            ``(8) Maximum rents.--During the term of participation by a 
        covered family in the pilot program under this subsection, the 
        amount of rent paid by the enrolled family shall be calculated 
        under the rental provisions of section 3 or 8(o), as 
        applicable.
            ``(9) Pilot program timeline.--
                    ``(A) Awards.--Not later than 18 months after the 
                date of enactment of this subsection, the Secretary 
                shall award escrow allocations.
                    ``(B) Establishment of accounts.--An eligible 
                entity awarded an escrow allocation under this 
                subsection shall--
                            ``(i) not later than 6 months after 
                        receiving the escrow allocation, establish 
                        escrow accounts under paragraph (3) for covered 
                        families; and
                            ``(ii) maintain those escrow accounts for 
                        not less than 5 years and not more than 7 years 
                        after the date on which the escrow account is 
                        established.
                    ``(C) Access to funds.--A covered family shall be 
                able to access funds in an escrow account established 
                under paragraph (3)--
                            ``(i) not earlier than the date that is 5 
                        years after, and not later than the date that 
                        is 7 years after, the date on which the escrow 
                        account is established; or
                            ``(ii) on the date the covered family 
                        ceases to receive housing assistance under 
                        Federal or State programs, if that date is less 
                        than 5 years after the date on which the escrow 
                        account is established.
            ``(10) Nonparticipation and housing assistance.--
                    ``(A) In general.--Assistance under section 8 or 9 
                for a family that elects not to participate in the 
                pilot program shall not be delayed by reason of such 
                election.
                    ``(B) No termination.--Housing assistance may not 
                be terminated as a consequence of participating in the 
                pilot program for any period of time.
            ``(11) Study.--Not later than 7 years after the date of 
        enactment of this subsection, the Secretary shall conduct a 
        study and submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives a report on outcomes 
        for covered families under the pilot program under this 
        subsection, which shall evaluate the effectiveness of the pilot 
        program in assisting families to achieve economic independence 
        and self-sufficiency, and the impact supportive services, or 
        the lack thereof, had on individual incomes.
            ``(12) Termination.--The pilot program under this 
        subsection shall terminate on the date that is 10 years after 
        the date of enactment of this subsection.
            ``(13) Authorization of appropriations.--
                    ``(A) In general.--There is authorized to 
                appropriated to the Secretary for fiscal year 2025 
                $2,000,000 to carry out this subsection.
                    ``(B) Availability.--Any amounts appropriated under 
                this subsection shall remain available until 
                expended.''.
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