NY S05605

Establishes a savings plan demonstration project for temporary housing assistance recipients in social services districts within cities with populations of one million or more

Directs recipients' earned income that would normally reduce shelter assistance to be deposited into approved savings accounts instead, with saved funds exempt from reducing shelter benefits while funds remain unwithdressed

Saved funds become available to recipients upon discharge from temporary emergency shelter to facilitate transition to or stabilize permanent housing, with accumulated interest distributed to the recipient

Exempts saved funds from being counted as income or resources for twelve months following the recipient's discharge from temporary shelter, and prohibits failure to contribute from causing loss of temporary housing assistance benefits

Demonstration project expires and is repealed on March 31, 2016, contingent on approval by the Office of Temporary and Disability Assistance and Division of Budget prior to implementation