Bill Text: VA HB1426 | 2024 | Regular Session | Comm Sub

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Bill Title: Dynamic Benefit Adjustment System; established.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2024-02-13 - Left in Appropriations [HB1426 Detail]

Download: Virginia-2024-HB1426-Comm_Sub.html

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24106201D
HOUSE BILL NO. 1426 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the House Committee on Health and Human Services on January 30, 2024) (Patron Prior to Substitute--Delegate Glass) A BILL to direct the Department of Social Services to develop and implement a dynamic benefit adjustment system for the gradual reduction of public assistance benefits in response to increases in beneficiaries' earned income.

Be it enacted by the General Assembly of Virginia:

1. §1. That the Department of Social Services shall amend its regulations to include a dynamic benefit adjustment system for the gradual reduction of public assistance benefits in response to increases in beneficiaries' earned income. Such dynamic benefit adjustment system shall (i) adjust income thresholds for eligibility for public assistance programs based on a formula developed by the Department that considers the Commonwealth's minimum wage, inflation rates, and cost of living indexes; (ii) reduce public assistance benefits gradually in response to increases in beneficiaries' earned income based on a ratio determined by the Department; and (iii) prioritize preventing sudden significant drops in assistance for beneficiaries. The Department shall collect data on the implementation of the system and shall develop an annual report on the system. The Department shall deliver such report to the Chairs of the House committee on Health and Human Services and the Senate Committee on Rehabilitation and Social Services no later than December 1 of each year.