Assigned to HHS                                                                                                                     FOR COMMITTEE

 


 

 

 


ARIZONA STATE SENATE

Fifty-Fourth Legislature, Second Regular Session

 

FACT SHEET FOR H.B. 2695

 

TANF; financial literacy education

Purpose

            Authorizes the Department of Economic Security (DES) to allow financial literacy and personal finance courses to satisfy prescribed work activity requirements for Temporary Assistance for Needy Families Cash Assistance (TANF CA) recipients.

Background

            DES administers the TANF CA Program to provide temporary cash benefits and supportive services to needy Arizona children and their families. In order to be eligible for TANF CA, a family's net monthly income cannot exceed: 1) 130 percent of the current federal poverty level (FPL) for families in which the head-of-household is a nonparent relative requesting TANF CA only for a dependent child; or 2) 100 percent of the current FPL for all other families. Individuals also must meet prescribed residency and citizenship criteria in order to be eligible for TANF CA (A.R.S. § 46-292).

            As an additional condition of eligibility, TANF CA recipients are generally required to participate in the Jobs Program (Program). The Program is an employment and training program for work-eligible adults that engages individuals in a variety of work-related activities and offers supportive and specialized services to eliminate barriers to employment. According to DES, Program activities and supportive services are provided to encourage and promote self-sufficiency through employment (DES).

            There is no anticipated fiscal impact to the state General Fund associated with this legislation.

Provisions

1.      Authorizes DES to allow a course in financial literacy and personal finance to satisfy prescribed work activity requirements for eligible TANF CA recipients.

2.      Stipulates that a course in financial literacy and personal finance includes instruction on:

a)      household cash management techniques;

b)      career advice to obtain well-paying and secure employment;

c)      using checking and saving accounts;

d)      obtaining and using short-term and long-term credit; or

e)      securing loans or other long-term financing arrangements for high-cost items.

3.      Makes technical changes.

4.      Becomes effective on the general effective date.

House Action

HHS                2/6/20        DP       9-0-0-0

3rd Read          2/25/20                  60-0-0

Prepared by Senate Research

March 2, 2020

CRS/kja