Florida Senate - 2015                              CS for SB 206
       By the Committee on Fiscal Policy; and Senators Hukill, Gaetz,
       Soto, Sachs, Detert, Galvano, and Sobel
       594-02563-15                                           2015206c1
    1                        A bill to be entitled                      
    2         An act relating to individuals with disabilities;
    3         creating s. 17.68, 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.
   25  Be It Enacted by the Legislature of the State of Florida:
   27         Section 1. Section 17.68, Florida Statutes, is created to
   28  read:
   29         17.68Financial 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  17.68.
  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.