Income Savings Plan (ISP) Program

Adopted Rules: Closed to Comments

Agency:
Effective Date: 
Sunday, December 15, 2019
Download Copy of Adopted Rule (.pdf): 

Statement of Basis and Purpose of Rule Following amendments to New York Social Services Law § 36-c, DHS issues this rule for the Income Savings Plan Program, or “ISP” Program, whose purpose is to help clients exit DHS shelters by budgeting for and developing savings to facilitate their transition to permanent housing upon shelter exit. Under the ISP Program, certain households with earned income will be required to deposit a portion of their earned income (generally 30%) to a savings account. Except on a case-by-case basis where a household has been approved by DSS to use their own commercial bank account, deposited funds will be held by the New York City Department of Social Services and will be made available to program participants upon their exit from shelter, if not earlier. The ISP Program will be implemented in phases for multiple populations. This rule establishes the first phase of this program, which will apply to employed residents of DHS shelters for single adults whose income from employment exceeds a threshold that is equivalent to the amount that would make most single-person households not in shelter ineligible for ongoing cash assistance. DHS will amend the rule as it rolls out the program to additional populations with earned income, including families with children. Participation in the ISP Program will be a shelter program eligibility requirement and clients who are not in compliance may have their shelter discontinued, but will have the opportunity to immediately cure a violation.