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Bill

S 113

Promoting New Bank Formation Act of 2025

119th Congress Introduced by Cindy Hyde-Smith and 1 co-sponsor

Bill S 113 updates monthly financial assistance standards for public aid recipients, ensuring support reflects current living costs and improves their quality of life.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 113

Summary of Bill S 113

Bill Number: S 113
Title: Relates to the standards of monthly need for persons in receipt of public assistance
Status: Reported and Committed to Finance
Introduced: January 08, 2025
Classification: Bill

Purpose and Intent

Bill S 113 aims to update and establish new standards for the monthly needs of individuals receiving public assistance. The intent of the bill is to ensure that the financial support provided to these individuals adequately reflects the current cost of living and essential needs, thereby improving their quality of life.

Key Provisions

  • Adjustment of Monthly Need Standards: The bill proposes to revise the existing standards that determine the monthly financial assistance provided to individuals and families on public assistance. This adjustment is intended to align the assistance with inflation and changes in living costs.

  • Periodic Review: The bill may include provisions for regular assessments of the monthly need standards to ensure they remain relevant and sufficient over time.

  • Implementation Timeline: While specific dates for implementation are not detailed in the current version, the bill is expected to outline a timeline for when the new standards will take effect following its passage.

Who Would Be Affected

  • Public Assistance Recipients: The primary beneficiaries of this bill will be individuals and families currently receiving public assistance. By increasing the monthly need standards, the bill aims to provide them with more adequate financial support.

  • State Agencies: Agencies responsible for administering public assistance programs will need to adjust their operations to accommodate the new standards, which may involve recalibrating budgets and resources.

Legislative Actions

  • January 08, 2025: The bill was introduced and referred to the Social Services Committee for review.
  • January 22, 2025: The bill was reported out of committee and committed to the Finance Committee for further consideration.

Related Bills

This bill is connected to several prior-session bills that address similar issues regarding public assistance standards:
- A 8061
- S 8655
- A 5507
- A 108 (companion bill)

Conclusion

Bill S 113 represents a significant step towards enhancing the financial support provided to individuals on public assistance. By updating the standards of monthly need, the bill seeks to address the challenges faced by vulnerable populations in meeting their basic living expenses. The ongoing legislative process will determine the final provisions and implementation of this important legislation.

Compiled from official sources — confirm details with the bill’s official record.

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