Closing Loopholes On SafetyNet Exploitation Act or the CLOSE Act

This bill revises eligibility requirements for the Supplemental Nutrition Assistance Program (SNAP, formerly known as the food stamp program) to require each state to implement a financial asset verification program for purposes of determining or redetermining the eligibility of an individual to participate in SNAP. (The financial asset program requires each applicant for or recipient of SNAP benefits to provide authorization for the state to obtain from a financial institution any financial record held by the institution with respect to such applicant or recipient.)

The bill only applies to the 50 States and the District of Columbia.

The Department of Agriculture must provide states with technical assistance to aid in implementation of a financial asset verification program.