NY A05855

Establishes a savings plan demonstration project in social services districts within cities with populations of one million or more to allow temporary housing assistance recipients to set aside earned income without it reducing their shelter assistance.

Directs participating recipients to contribute earned income to an approved savings account instead of having those funds applied to reduce temporary housing assistance, with saved funds remaining exempt from asset limits.

Requires saved funds plus accrued interest to be distributed to recipients upon discharge from emergency shelters to facilitate transition to or stabilization of permanent housing.

Permits failure to contribute to the savings plan without resulting in loss of temporary housing assistance benefits, provided the recipient remains in compliance with other eligibility requirements.

Takes effect 180 days after enactment (or earlier if the Office of Temporary and Disability Assistance approves the demonstration project sooner) and expires March 31, 2020.