similar to the demonstration projects conducted 
under this title.’’; and 
(C) by adding at the end the following new 
paragraph: 
‘‘(2) ACCESS
FOR
YEAR
AFTER
END
OF 
PROJECT.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
ensure that an eligible individual is able to 
withdraw funds from an individual development 
account of the individual during the 1-year pe-
riod following the end of the demonstration 
project with respect to which deposits were 
made into such account (whether such project 
ends by reason of expiration of the authority 
under section 406(a) of the qualified entity to 
conduct the demonstration project, termination 
of such authority under section 413 without 
transfer to another qualified entity, or other-
wise). 
‘‘(B) APPROVAL OF WITHDRAWALS.—Dur-
ing the period described in subparagraph (A), 
an eligible individual may only make a with-
drawal if the withdrawal is approved in writ-
ing— 
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‘‘(i) by a responsible official of the 
qualified entity; or 
‘‘(ii) by the Secretary, if the Secretary 
terminated the authority of the qualified 
entity to conduct the demonstration project 
under section 413 or the Secretary deter-
mines that the qualified entity is otherwise 
unable or unwilling to participate in the 
approval process.’’; and 
(5) by adding at the end the following new sub-
section: 
‘‘(f) UNUSED FUNDS IN IDA.—If funds remain in 
an individual development account after the end of the 1- 
year period described in subsection (d)(2)(A), such funds 
shall be disposed of as considered appropriate by the Sec-
retary or a nonprofit entity (as such term is used in sec-
tion 404(7)(A)(i)) designated by the Secretary.’’. 
SEC. 10. REGULATIONS. 
Section 411 is amended— 
(1) in the heading, by inserting ‘‘; REGULA-
TIONS’’ after ‘‘PROJECTS’’; 
(2) by striking ‘‘A qualified entity’’ and insert-
ing the following: 
‘‘(a) LOCAL
CONTROL
OVER
DEMONSTRATION 
PROJECTS.—A qualified entity’’; and 
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(3) by adding at the end the following new sub-
section: 
‘‘(b) REGULATIONS.—Subject to subsection (a), not 
later than 180 days after the date of the enactment of 
the Stephanie Tubbs Jones Assets for Independence Reau-
thorization Act of 2011, the Secretary shall promulgate 
such regulations as the Secretary considers necessary to 
implement this title. The Secretary may provide that any 
such regulation takes effect on the date of promulgation, 
but the Secretary shall accept and consider public com-
ments for 60 days after such date.’’. 
SEC. 11. ANNUAL PROGRESS REPORTS. 
(a) IN GENERAL.—Section 412(b) is amended by 
striking ‘‘subsection (a) to’’ and all that follows and in-
serting ‘‘subsection (a) to the Secretary.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply to reports submitted on or after 
the date of the enactment of this Act. 
SEC. 12. SANCTIONS. 
(a) IN GENERAL.—Section 413 is amended— 
(1) by amending subsection (b)(5) to read as 
follows: 
‘‘(5) if, by the end of the 90-day period begin-
ning on the date of the termination, the Secretary 
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has not found a qualified entity (or entities) de-
scribed in paragraph (3), shall— 
‘‘(A) make every effort to identify, without 
conducting a competition (unless the Secretary 
determines that conducting a competition would 
be feasible and appropriate), another qualified 
entity (or entities), in the same or a different 
community, willing and able to conduct one or 
more demonstration projects under this title 
that may differ from the project being termi-
nated; 
‘‘(B) in identifying a qualified entity (or 
entities) under subparagraph (A), give priority 
to qualified entities that— 
‘‘(i) are participating in demonstra-
tion projects conducted under this title; 
‘‘(ii) have waiting lists for participants 
in such demonstration projects; and 
‘‘(iii) can demonstrate the availability 
of non-Federal funds described in section 
405(c)(4), in addition to any such funds 
committed to any demonstration projects 
being conducted by the qualified entity at 
the time the Secretary considers identi-
fying the entity under subparagraph (A), 
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to be committed to the demonstration 
project (or projects) described in subpara-
graph (A) as matching contributions; and 
‘‘(C) if the Secretary identifies a qualified 
entity (or entities) under subparagraph (A)— 
‘‘(i) transfer to the entity (or entities) 
control over the Reserve Fund established 
pursuant to section 407 with respect to the 
project being terminated; and 
‘‘(ii) authorize the entity (or entities) 
to use such Reserve Fund to conduct a 
demonstration project (or projects) in ac-
cordance with an application approved 
under subsection (e) or (h)(2) of section 
405 and the requirements of this title.’’; 
and 
(2) by adding at the end the following new sub-
section: 
‘‘(c) FOCUS
ON
COMMUNITY
OF
TERMINATED 
PROJECT.—In identifying another qualified entity (or en-
tities) under paragraph (3) or (5) of subsection (b), the 
Secretary shall, to the extent practicable, select a qualified 
entity (or entities) in the community served by the dem-
onstration project being terminated.’’. 
(b) EFFECTIVE DATE.— 
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(1) IN
GENERAL.—The amendment made by 
subsection (a) shall apply to terminations occurring 
on or after the date of the enactment of this Act. 
(2) DISCRETIONARY APPLICATION TO PREVIOUS 
TERMINATIONS.—The Secretary of Health and 
Human Services may apply such amendment to ter-
minations occurring within the one-year period end-
ing on the day before the date of the enactment of 
this Act. In the case of such an application, any ref-
erence in such amendment to the date of the termi-
nation is deemed a reference to such date of enact-
ment. 
SEC. 13. EVALUATIONS. 
Section 414 is amended— 
(1) by amending subsection (a) to read as fol-
lows: 
‘‘(a) IN GENERAL.—The Secretary may enter into 
one or more contracts with one or more independent re-
search organizations to evaluate the demonstration 
projects conducted under this title, individually and as a 
group, including all qualified entities participating in and 
sources providing funds for the demonstration projects 
conducted under this title. Such contract or contracts may 
also provide for the evaluation of other asset-building pro-
grams and policies targeted to low-income individuals.’’; 
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