MN HF2062

Modifies the Family Assets for Independence program to clarify that households are eligible for state or TANF matching funds when meeting federal Assets for Independence Act requirements under Public Law 105-285.

Restricts participating household deposits to money derived from household earned income or state and federal income tax credits only.

Establishes matching contribution structure: $1.50 state/TANF match for every $1 withdrawn (limited to $720 per year or $3,000 lifetime); nonstate funds provide matching contribution of at least $1.50 per $1 withdrawn under same limits.

Requires fiscal agents to make direct vendor payments for approved permissible uses and verify matching funds are available on at least a quarterly basis and at time of withdrawal.

Appropriates $500,000 in fiscal year 2013 from the general fund to the commissioner of human services for the program.