The Children Saving Account (CSA) Grant Program is to support
local governments and nonprofit organizations that sponsor or
collaborate on one or more comprehensive citywide or regional
child savings account programs. The statute allocates ten million
dollars ($10,000,000) in one-time General Fund dollars to CSA
Grant Program awards.
The CSA Grant Program Council is established to advise the
Commission and grantees on topics that include, but are not
necessarily limited to, the following:
- The development of systems and infrastructure to facilitate
the successful implementation and operation of local child
savings account programs.
- Outreach and coordination with local child savings account
programs.
- Incentives to assist in the development of sustainable and
expandable local child savings account programs.
- Strategies to minimize grantees’ administrative fees and to
cap administrative costs to better ensure that local child
savings account programs are of low or no cost to participants.
- Contribution strategies, including record keeping and cash
deposit strategies.
- The development of strategies to address local child savings
account program accessibility issues, such as language barriers,
identification of eligible students, and banking access.