Fact Sheets: Eliminating the Asset Limit on TANF

People seeking TANF assistance in Illinois cannot own more than $2,000 in non-exempt assets at any one point in time ($2,000 for one person, $3,000 for two people, and $50 for each additional person). This asset limit prevents families from building emergency savings, which could pay for unexpected expenses like medical bills, car repairs, or childcare. TANF is meant to provide families with help when they need it most and move people out of poverty, but the Illinois asset test undercuts the goals of the program by essentially encouraging people to stop saving and accumulating the assets that would help them get back on their feet.

SB2319 & HB2262 would eliminate the asset test on TANF. These fact sheets provide more information about these bills.

Documents/Attachments: 

Asset.Limit_.Fact_.Sheet_.SENATE.pdf

Asset.Limit_.Fact_.Sheet_.HOUSE_.pdf

TANF Asset Test_FAQ.pdf