Stephanie Tubbs Jones Assets for Independence Reauthorization Act of 2015

Stephanie Tubbs Jones Assets for Independence Reauthorization Act of 2015

This bill amends the Assets for Independence Act, which provides for demonstration projects designed to provide individuals and families of limited means with an incentive to save a portion of their earned income and thereby accumulate assets, increase their economic self-sufficiency, and stabilize such families and the communities in which they live.

Expresses the sense of Congress that a qualified entity conducting a demonstration project under the Act should, to the maximum extent practicable, increase: (1) the rate at which it matches contributions by participating individuals, or (2) the number of such participating individuals.

States that multiple households may share a single residence. Specifies public housing agencies and tribally designated housing entities as entities qualified to participate in a demonstration project. Repeals the requirement that state or local government or other public agencies apply jointly with a tax-exempt not-for-profit charitable organization or collaborate with certain kinds of local community-based organizations. Includes among postsecondary educational expenses any expenses for preparatory courses, room and board, and transportation.

Revises requirements for: (1) applications for new and renewals of existing projects; (2) limitations on uses of the Reserve Fund; and (3) the adjusted gross household income eligibility test, requiring regulations for transfers from one project to another for individuals who move because of major disasters or emergencies, to find employment, or to a community where no project is available.

Revises requirements for deposits by qualified entities in the individual development accounts (IDAs) of participating individuals to: (1) increase maximum deposits per individual and per household; (2) facilitate withdrawal of funds from an IDA, with formal approval, during the year following the end of a demonstration project; and (3) require disposal of funds remaining in an IDA at the end of that year.

Requires the Department of Health and Human Services (HHS), acting through the Director of Community Services, to make every effort, 90 days after terminating the authority of one qualified entity to operate a demonstration project, to identify another qualified entity (or entities), in the same or a different community, willing and able to conduct one or more demonstration projects. Specifies criteria for giving priority consideration to candidate entities.

Revises requirements for contracting with independent research organizations to evaluate demonstration projects.

Authorizes the Secretary to: (1) use certain funds to cover the necessary costs of training for a qualified entity conducting a demonstration project, including costs of travel, accommodations, and meals; and (2) waive any requirement of the Act in certain circumstances.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov