• Establishes the John H. Chafee Foster Care Independence Program, named in honor of the late Senator John H. Chafee of Rhode Island, one of the original sponsors of the Act and a long time champion for abused and neglected children.

• Increases from $1,000 to $10,000 the assets that a youth in foster care can have and still maintain his or her eligibility for Title IV-E-funded foster care.

• Allows states to provide Medicaid coverage to foster youth between the ages of 18 and 21 who were in foster care on their 18th birthday.

• Requires states to ensure that foster parents are adequately prepared, both initially and on a continuing basis, to care for the youth placed with them.

• Authorizes additional funding for adoption incentive payments to the states to assist in finding permanent homes for youth in foster care.

• Increases funding for independent living activities

• Increases assistance, including room and board, for youth ages 18 to 21 who are leaving foster care;

• Expands the opportunity for states to offer Medicaid to youth transitioning from care

• Emphasizes the importance of securing permanent families for youth in foster care

• Increases state accountability for outcomes for youth transitioning from foster care

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