S. 3276 116th Congress Senate

ASSET Act

Official title: A bill to eliminate asset limits employed by certain federally funded means-tested public assistance programs, and for other purposes.

Introduced: February 11, 2020 Introduced by: Christopher A. Coons Democratic · Delaware See on congress.gov

Social Welfare Employment and training programsEnergy assistance for the poor and agedFood assistance and reliefInflation and prices

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Marriage and family statusPoverty and welfare assistanceState and local government operations

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 11, 2020

Read twice and referred to the Committee on Finance.

Feb 11, 2020

Introduced in Senate

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Latest action February 11, 2020

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Allowing Steady Savings by Eliminating Tests Act or the ASSET Act

This bill prohibits the use of asset tests or resource limits in certain means-tested public assistance programs and increases the resource limits to qualify for Supplemental Security Income (SSI). SSI is a federal income supplement program designed to help aged, blind, and disabled individuals with limited income and resources meet basic needs.

Under the bill, states may not use asset or resource limits to determine eligibility for (1) programs funded by Temporary Assistance for Needy Families grants, (2) the Supplemental Nutrition Assistance Program, or (3) the Low Income Home Energy Assistance Program.

In addition, an individual may have up to $10,000 in certain resources (or up to $20,000 for a couple) and qualify for SSI. Under current law, the limit is $2,000 for an individual (or $3,000 for a couple).

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