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Raise Texas

Policy

Savings Accounts

Sustainability is an issue that every savings program will face at one time or another. For this reason, this should be a focus area for our state efforts in supporting both state and federal policies to help aid Texas savings programs through the years. Below are two specific policies that the Savings working group will support and promote regarding savings programs if they are introduced in the current session.

  • State legislation to help provide funding opportunities at a non-federal level and designed to reach as many Texas savings programs as possible.
  • Federal legislation to help support the re-authorization of Assets for Independence program (AFI) with recommendations that would make the program more accessible to Texas groups.

There will be many opportunities to get involved and take action to promote the Savings Accounts legislation throughout the session. Visit this page often for updates and action items, or sign up to receive our policy updates by email.

Bills Related to Savings in the 2015 Legislative Session

HB 3987 Rep. Farney
Relating to programs in public schools designed to facilitate planning and saving for higher education and facilitate personal financial literacy instruction.

Signed into law by the Governor on June 20, 2015.

SB 1858 Sen. Garcia
Relating to programs in public schools designed to facilitate planning and saving for higher education and facilitate personal financial literacy instruction.

Referred to Education Committee on March 25, 2015.

HB 1628 Rep. Johnson
Relating to authorizing a credit union or other financial institution to conduct savings promotion raffles.

Vetoed by the Governor on June 20, 2015.

HB 2666 Rep. Naishtat
Relating to the exclusion of certain resources in determining eligibility for the supplemental nutrition assistance program.

Considered in a public hearing in the Human Services Committee on May 4, 2015, and the bill was left pending in committee.

HB 3967 Rep. Dukes
Relating to a pilot program to increase the financial independence of foster children who are transitioning to independent living.

Passed favorably as substituted out of the Juvenile Justice & Family Issues Committee on May 11, 2015, and was recommended to be sent to Local & Consent.

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