Sec. 5. Management of social security and supplemental security income benefits for foster children
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Section 471(a) of the Social Security Act ( 42 U.S.C. 671(a) ), as amended by section 3(a) of this Act, is amended— by striking and at the end of paragraph (35); by striking the period at the end of paragraph
(36)and inserting ; and ; and by adding at the end the following: provides that, with respect to each child in foster care under the responsibility of the State and on whose behalf the State receives benefits under title II or supplemental security income benefits under title XVI, the State agency shall— develop a plan, developed specifically for the child, which is designed to best meet the current and future needs of the individual and enable the child to achieve self-support after leaving foster care, in accordance with the following: The plan shall set forth a strategy to conserve benefits not necessary for the immediate needs of the child, determined as provided for pursuant to clause
(ii)of this subparagraph, in a manner that best meets the future needs and educational and employment interests of the child, and for the placement of any such benefits in— an account of the type described in section 1631(a)(2)(F) of this Act; an ABLE account established under section 529A of the Internal Revenue Code of 1986; an individual development account established pursuant to Federal or State law; or such other account in which benefits for the child may be conserved in a manner that the State determines, consistent with this paragraph, is in the best interests of the child. The plan shall provide for a determination as to whether the child has immediate needs for which the benefits should be used to serve the best interests of the child consistent with sections 205(j)(10)(B) and 1631(a)(2)(A)(iv)(II). The plan shall provide for a determination of any additional assets to which the child may be entitled, including civil judgments, inheritances, or earnings, and shall provide for the assets to be conserved as part of the plan as described in clause (i). Any funds conserved in accordance with the plan shall be used to supplement and not supplant any other Federal funds or programs that may be available for the benefit of the child. The plan shall provide that any assets set aside under the plan shall be conserved and inaccessible to the child (except for a use of funds described in items
(aa)through
(gg)of section 1631(a)(2)(F)(ii)(II), or for another use approved by the Secretary as being in the best interests of the child), and placed in an account described in clause
(i)of this subparagraph, until the later of the date the child attains 18 years of age or ceases to be under the responsibility of the State. The State agency shall— develop and implement the plan in collaboration with the child (on an age-appropriate basis), the social worker for the child, the person acting as the representative payee for the child pursuant to section 205(j) or 1631(a)(2) of this Act, and the attorney or guardian ad litem appointed to represent the child pursuant to section 106(b)(2)(B)(xiii) of the Child Abuse Prevention and Treatment Act; and in developing and implementing the plan, make reasonable efforts to seek input from the parents and caretakers of the child. Within 60 days after the status of the child is first reviewed pursuant to section 475(5)(B), the State agency shall complete the plan. The State agency shall ensure that each subsequent such review of such status shall include consideration of an updated version of the plan and a report on the progress made in implementing the plan. Not later than 30 days before the status of the child is first reviewed pursuant to section 475(5)(B) of this Act after completion of the plan, the State agency shall provide a copy of the plan to the attorney or guardian ad litem appointed to represent the child pursuant to section 106(b)(2)(B)(xiii) of the Child Abuse Prevention and Treatment Act. Not later than 30 days before each subsequent such review, the State agency shall provide an updated copy of the plan to the attorney or guardian ad litem so appointed. The child may request the plan to be modified in a review of the status of the child pursuant to section 475(5)(B), in a separate hearing, or in a permanency hearing pursuant to section 475(5)(C). The plan shall not be treated, in any administrative or judicial review proceeding, as meeting the requirements of this paragraph with respect to a child unless the plan is determined by the reviewer to be the best available means of meeting the current and future needs and educational and employment interests of the child; assist the child in developing a plan to manage the benefits so as to meet the current and future needs of the child; and provide the child financial literacy training, including regarding budgeting, saving, investing, managing credit, student loans, consumer debt and installment purchasing (including credit scoring, managing credit debt, and completing a loan application), banking (including balancing a checkbook, opening a deposit account, and the use of interest rates), State and Federal income taxation, personal insurance policies, identity theft security, and home ownership (including the basic process of obtaining a mortgage and the concepts of fixed and adjustable rate mortgages, subprime loans, and predatory lending). . Section 205(j) of such Act ( 42 U.S.C. 405(j) ) (as amended by the preceding provisions of this Act) is amended further— by redesignating paragraphs (8), (9), and
(10)as paragraphs (9), (10), and (11), respectively; and by inserting after paragraph
(7)the following new paragraph: A representative payee who is a State shall manage the benefits paid to the representative payee under paragraph
(1)on behalf of an individual who is in foster care under the responsibility of the State, in accordance with the plan developed for the child pursuant to section 471(a)(37). . Section 1631(a)(2) of such Act ( 42 U.S.C. 1383(a)(2) ) is amended by adding at the end the following: A representative payee who is a State shall manage the benefits paid to the representative payee under subparagraph (A)(ii) of this paragraph on behalf of an individual who is in foster care under the responsibility of the State, in accordance with the plan developed for the child pursuant to section 471(a)(37). . Section 1613(a) of such Act ( 42 U.S.C. 1382b(a) ) is amended— by striking and at the end of paragraph (16); by striking the period at the end of paragraph
(17)and inserting ; and ; and by inserting after paragraph
(17)the following: any assets managed on behalf of an eligible individual in accordance with a plan developed for the individual pursuant to section 471(a)(37). .
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Sec. 5
Management of social security and supplemental security income benefits for foster children
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