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Matched Savings Accounts

Sustainability is an issue that every matched savings program will face at one time or another. For this reason, this should be a focus area for our state efforts in putting together both state and federal policies to help aid Texas matched savings programs through the years. Below are two specific policies that the Matched Savings working group will support and promote regarding IDA, CSA, and other matched savings program legislation in 2010-2011.

• State legislation to help provide funding opportunities at a non-federal level and designed to reach as many Texas matched 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 Matched Savings Accounts legislation as early as fall 2010. Visit this page often for updates and action items, or join the Matched Savings Accounts Campaign working group to receive the action items and updates by email.

Results from the 81st Legislature Regular Session in 2009

In the last legislative session there were five important bills proposed around the idea of matched savings accounts. Below is a list of the bills and the legislative stage that they reached in 2009.

Bill passed and signed into law by the Governor:

• HB 2283 filed by Representative Vicki Truitt to increase state employee participation in the TexaSaver program.

Bill vetoed by the Governor:

• SB 1760 filed by Senator Kirk Watson provides funding for the Texas Save and Match program for children's savings accounts for post-secondary education.

Bills that were proposed but not passed:

• HB 885 filed by Representative Elliott Naishtat supports and expands Individual Development Accounts (IDAs) in Texas.
• SB 27 filed by Senator Judith Zaffirini supports and expands Individuals Development Accounts (IDAs) in Texas.
• SB 2025 filed by Senator Kirk Watson establishes a reward and incentive program for certain economically disadvantaged students for the Texas Tuition Promise Fund for post-secondary education.