Florida Senate - 2015 PROPOSED COMMITTEE SUBSTITUTE Bill No. SB 206 Ì918754EÎ918754 594-01689-15 Proposed Committee Substitute by the Committee on Fiscal Policy (Appropriations Subcommittee on General Government) 1 A bill to be entitled 2 An act relating to individuals with disabilities; 3 creating s. 20.122, F.S.; providing legislative 4 findings; establishing the Financial Literacy Program 5 for Individuals with Developmental Disabilities within 6 the Department of Financial Services; requiring the 7 department to develop and implement the program in 8 consultation with specified stakeholders; providing 9 for the 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, by a specified date, qualified public 18 depositories to make copies of the department’s 19 brochure available and provide a hyperlink on their 20 websites to the department’s website for the program; 21 amending s. 280.16, F.S.; requiring a qualified public 22 depository to participate in the program; providing an 23 appropriation; providing an effective date. 24 25 Be It Enacted by the Legislature of the State of Florida: 26 27 Section 1. Section 20.122, Florida Statutes, is created to 28 read: 29 20.122 Financial Literacy Program for Individuals with 30 Developmental Disabilities.— 31 (1) The Legislature finds that the state has a compelling 32 interest in promoting the economic independence and successful 33 employment of individuals with developmental disabilities as 34 defined in s. 393.063. In comparison with the general 35 population, individuals with developmental disabilities 36 experience lower rates of educational achievement, employment, 37 and annual earnings and are more likely to live in poverty. 38 Additionally, such individuals must navigate a complex network 39 of federal and state programs in order to be eligible for 40 financial and health benefits. Thus, it is essential that these 41 individuals have sufficient financial management knowledge and 42 skills to be able to comply with the benefit eligibility 43 processes and make informed decisions regarding financial 44 services and products provided by financial institutions. 45 Enhancing the financial literacy of such individuals will 46 provide a pathway for economic independence and successful 47 employment. 48 (2) The Financial Literacy Program for Individuals with 49 Developmental Disabilities is established within the Department 50 of Financial Services. The department, in consultation with 51 public and private stakeholders, shall develop and implement the 52 program, which shall be designed to promote the economic 53 independence and successful employment of individuals with 54 developmental disabilities. Banks, credit unions, savings 55 associations, and savings banks will be key participants in the 56 development and promotion of the program. The program must 57 provide information, resources, outreach, and education on the 58 following issues: 59 (a) For individuals with developmental disabilities: 60 1. Financial education, including instruction on money 61 management skills and the effective use of financial services 62 and products, to promote income preservation and asset 63 development. 64 2. Identification of available financial and health benefit 65 programs and services. 66 3. Job training programs and employment opportunities, 67 including work incentives and state and local workforce 68 development programs. 69 4. The impact of earnings and assets on federal and state 70 financial and health benefit programs and options to manage such 71 impact. 72 (b) For employers in this state, strategies to make program 73 information and educational materials available to their 74 employees with developmental disabilities. 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) Within 90 days after the department establishes its 83 website and publishes its brochure, each bank, savings 84 association, and savings bank that is a qualified public 85 depository as defined in s. 280.02 shall: 86 (a) Make copies of the department’s brochures available, 87 upon the request of the consumer, at its principal place of 88 business and each branch office located in this state which has 89 in-person teller services by having copies of the brochure 90 available or having the capability to print a copy of the 91 brochure from the department’s website. Upon request, the 92 department shall provide copies of the brochure to a bank, 93 savings association, or savings bank. 94 (b) Provide on its website a hyperlink to the department’s 95 website for the program. If the department changes its website 96 address for the program, the bank, savings association, or 97 savings bank must update the hyperlink within 90 days after 98 notification by the department of such change. 99 Section 2. Paragraph (e) is added to subsection (1) of 100 section 280.16, Florida Statutes, to read: 101 280.16 Requirements of qualified public depositories; 102 confidentiality.— 103 (1) In addition to any other requirements specified in this 104 chapter, qualified public depositories shall: 105 (e) Participate in the Financial Literacy Program for 106 Individuals with Developmental Disabilities as required under s. 107 20.122. 108 Section 3. For the 2015-2016 fiscal year, the sums of 109 $63,664 in recurring funds and $73,570 in nonrecurring funds 110 from the Insurance Regulatory Trust Fund are appropriated to the 111 Department of Financial Services’ Consumer Assistance Program 112 and one full-time equivalent position with associated salary 113 rate of 41,114 is authorized for the program for the purpose of 114 implementing this act. 115 Section 4. This act shall take effect January 1, 2016.