Authorizes competitive grants for establishing HOPE Accounts Pilot Projects and HOPE Action Plans Pilot Projects.
Aims to assist individuals from target populations, particularly those living in poverty or food insecurity.
Defines target populations, including low-income individuals, the homeless, and those receiving government assistance.
Establishes HOPE Accounts to facilitate direct paycheck deposits, savings matching, and access to job training and benefits through technology.
Provides for the creation of HOPE Action Plans to help individuals and families achieve economic mobility through partnerships with government and nonprofit organizations.
Grants range from $250,000 to $3,000,000, with a focus on projects that serve underserved communities and involve low-income individuals in planning.
Encourages the use of technology to simplify access to benefits and improve financial literacy among low-income individuals.
Requires annual reports to Congress on the effectiveness of pilot projects and contracts.
Allocates specific funding for technical assistance and mandates a portion of funds to assist persistent poverty counties.
Ensures that pilot projects do not reduce existing government assistance or complicate access to benefits.
