Self-Sufficiency Opportunities Act of 1992

Summary

Self-Sufficiency Opportunities Act of 1992 - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act to disregard for purposes of AFDC eligibility any savings from a child's earned income placed in a qualified education account. Allows States to permit certain self-employment program participants a one-time election to purchase capital equipment for a small business. Treats: (1) such purchases as business expenses and prohibits their depreciation for income tax purposes; and (2) repayments of the principal portion of small business loans and cash retained by small businesses for future uses as business expenses for purposes of AFDC eligibility. Authorizes grants to States for public-private parterships for technical assistance for AFDC recipients seeking to become self-employed. Authorizes appropriations.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 21 May 1992

  Open at official source

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