Florida Senate - 2015 SB 206 By Senator Hukill 8-00285-15 2015206__ 1 A bill to be entitled 2 An act relating to the Financial Literacy Program for 3 Individuals with Developmental Disabilities; creating 4 s. 20.122, F.S.; providing legislative findings; 5 establishing the program within the Department of 6 Financial Services; requiring the department to 7 develop and implement the program in consultation with 8 specified stakeholders; providing for the 9 participation of banks, credit unions, savings 10 associations, and savings banks; requiring the program 11 to provide information and other offerings on 12 specified issues to individuals with developmental 13 disabilities and employers in this state; requiring 14 the department to establish on its website a 15 clearinghouse for information regarding the program 16 and to publish a brochure describing the program; 17 requiring qualified public depositories to disseminate 18 the department’s brochure and provide a hyperlink on 19 their websites to the department’s website for the 20 program; amending s. 280.16, F.S.; requiring a 21 qualified public depository to participate in the 22 program; providing an effective date. 23 24 Be It Enacted by the Legislature of the State of Florida: 25 26 Section 1. Section 20.122, Florida Statutes, is created to 27 read: 28 20.122 Financial Literacy Program for Individuals with 29 Developmental Disabilities.— 30 (1) The Legislature finds that the state has a compelling 31 interest in promoting the economic independence and successful 32 employment of individuals with developmental disabilities as 33 defined in s. 393.063. In comparison with the general 34 population, individuals with developmental disabilities 35 experience lower rates of educational achievement, employment, 36 and annual earnings and are more likely to live in poverty. 37 Additionally, such individuals must navigate a complex network 38 of federal and state programs in order to be eligible for 39 financial and health benefits. Thus, it is essential that these 40 individuals have sufficient financial management knowledge and 41 skills to be able to comply with the benefit eligibility 42 processes and make informed decisions regarding financial 43 services and products provided by financial institutions. 44 Enhancing the financial literacy of such individuals will 45 provide a pathway for economic independence and successful 46 employment. 47 (2) The Financial Literacy Program for Individuals with 48 Developmental Disabilities is established within the Department 49 of Financial Services. The department, in consultation with 50 public and private stakeholders, shall develop and implement the 51 program, which shall be designed to promote the economic 52 independence and successful employment of individuals with 53 developmental disabilities. Banks, credit unions, savings 54 associations, and savings banks will be key participants in the 55 development and promotion of the program. The program must 56 provide information, resources, outreach, and education on the 57 following issues: 58 (a) For individuals with developmental disabilities: 59 1. Financial education, including instruction on money 60 management skills and the effective use of financial services 61 and products, to promote income preservation and asset 62 development. 63 2. Identification of available financial and health benefit 64 programs and services. 65 3. Job training programs and employment opportunities, 66 including work incentives and state and local workforce 67 development programs. 68 4. The impact of earnings and assets on federal and state 69 financial and health benefit programs and options to manage such 70 impact. 71 (b) For employers in this state, information about federal 72 and state law requirements with respect to the employment of 73 individuals with developmental disabilities and resources that 74 facilitate the employment of such individuals. 75 (3) The department shall: 76 (a) Establish on its website a clearinghouse for 77 information regarding the program and other resources available 78 for individuals with developmental disabilities and their 79 employers. 80 (b) Publish a brochure that describes the program and is 81 accessible on its website. 82 (4) Each bank, savings association, and savings bank that 83 is a qualified public depository as defined in s. 280.02 shall: 84 (a) Disseminate the department’s brochures at its principal 85 place of business and each branch office located in this state. 86 (b) Provide on its website a hyperlink to the department’s 87 website for the program. 88 Section 2. Paragraph (e) is added to subsection (1) of 89 section 280.16, Florida Statutes, to read: 90 280.16 Requirements of qualified public depositories; 91 confidentiality.— 92 (1) In addition to any other requirements specified in this 93 chapter, qualified public depositories shall: 94 (e) Participate in the Financial Literacy Program for 95 Individuals with Developmental Disabilities as required under s. 96 20.122. 97 Section 3. This act shall take effect October 1, 2015.