The proposed bill aims to expand access to the Family Self-Sufficiency Program in Massachusetts by establishing a universal asset-building accounts pilot program. This program will be managed by the secretary of the relevant department and will create Family Self-Sufficiency (FSS) escrow accounts for up to 1,000 eligible families. The accounts will be funded by matching the increase in rent paid by families due to their increased earned income during their participation in the pilot program. Families will have the option to opt-out of the program at any time without affecting their housing assistance, which cannot be terminated based on their participation status.

Additionally, the bill outlines that regional agencies managing federal housing choice vouchers can apply to participate in the pilot program, and the secretary is encouraged to collaborate with philanthropic and non-profit organizations to support the program's costs and evaluate its effectiveness. The pilot program is set to commence by January 1, 2027, and will run for a minimum of five years. A comprehensive report on the program's outcomes, including its impact on economic independence and the effectiveness of coaching services, will be submitted to key legislative leaders two years after the program concludes.