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.