Florida Senate - 2016 SB 376 By Senator Hukill 8-00267A-16 2016376__ 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, resources, outreach, and 12 education on specified issues to individuals with 13 developmental disabilities and employers in this 14 state; requiring the department to establish on its 15 website a clearinghouse for information regarding the 16 program and to publish a brochure describing the 17 program; requiring, by a specified date, qualified 18 public 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 providing that qualified public depositories are not 22 subject to civil liability arising from the 23 distribution and contents of the brochure and the 24 program website information; amending s. 280.16, F.S.; 25 requiring a qualified public depository to participate 26 in the program; providing an appropriation; providing 27 an effective date. 28 29 Be It Enacted by the Legislature of the State of Florida: 30 31 Section 1. Section 17.68, Florida Statutes, is created to 32 read: 33 17.68 Financial Literacy Program for Individuals with 34 Developmental Disabilities.— 35 (1) The Legislature finds that the state has a compelling 36 interest in promoting the economic independence and successful 37 employment of individuals with developmental disabilities as 38 defined in s. 393.063. In comparison with the general 39 population, individuals with developmental disabilities 40 experience lower rates of educational achievement, employment, 41 and annual earnings and are more likely to live in poverty. 42 Additionally, such individuals must navigate a complex network 43 of federal and state programs in order to be eligible for 44 financial and health benefits. Thus, it is essential that these 45 individuals have sufficient financial management knowledge and 46 skills to effectively participate in benefit eligibility 47 determination processes and make informed decisions regarding 48 financial services and products provided by financial 49 institutions. Enhancing the financial literacy of such 50 individuals will provide a pathway for economic independence and 51 successful employment. 52 (2) The Financial Literacy Program for Individuals with 53 Developmental Disabilities is established within the Department 54 of Financial Services. The department, in consultation with 55 public and private stakeholders, shall develop and implement the 56 program, which must be designed to promote the economic 57 independence and successful employment of individuals with 58 developmental disabilities. Banks, credit unions, savings 59 associations, and savings banks will be key participants in the 60 development and promotion of the program, which must provide 61 information, resources, outreach, and education in the following 62 areas: 63 (a) For individuals with developmental disabilities: 64 1. Financial education, including instruction on money 65 management skills and the effective use of financial services 66 and products, to promote income preservation and asset 67 development. 68 2. Identification of available financial and health benefit 69 programs and services. 70 3. Job training programs and employment opportunities, 71 including work incentives and state and local workforce 72 development programs. 73 4. The impact of earnings and assets on eligibility for 74 federal and state financial and health benefit programs, and 75 options to manage such impact. 76 (b) For employers in this state, strategies to make program 77 information and educational materials available to their 78 employees with developmental disabilities. 79 (3) The department shall: 80 (a) Establish on its website a clearinghouse for 81 information regarding the program and other resources available 82 for individuals with developmental disabilities and their 83 employers. 84 (b) Publish a brochure describing the program, which is 85 also accessible on its website. 86 (4) Within 90 days after the department establishes the 87 website clearinghouse and publishes the brochure, each bank, 88 savings association, and savings bank that is a qualified public 89 depository as defined in s. 280.02 shall: 90 (a) Make copies of the department’s brochures available, 91 upon the request of the consumer, at its principal place of 92 business and each branch office located in this state which has 93 in-person teller services by having copies of the brochure 94 available or having the capability to print a copy of the 95 brochure from the department’s website. Upon request, the 96 department shall provide copies of the brochure to a bank, 97 savings association, or savings bank. 98 (b) Provide on its website a hyperlink to the department’s 99 website clearinghouse. If the department changes the website 100 address for the clearinghouse, the bank, savings association, or 101 savings bank must update the hyperlink within 90 days after 102 notification by the department of such change. 103 (5) A participating qualified public depository is not 104 subject to civil liability arising from the distribution or 105 nondistribution of the brochure or program website information. 106 The contents of the brochure or the program website information 107 may not be attributed to a participating qualified public 108 depository by virtue of its distribution, and do not constitute 109 financial or investment advice by, nor create a fiduciary duty 110 on, the participating qualified public depository to the 111 recipient. 112 Section 2. Paragraph (e) is added to subsection (1) of 113 section 280.16, Florida Statutes, to read: 114 280.16 Requirements of qualified public depositories; 115 confidentiality.— 116 (1) In addition to any other requirements specified in this 117 chapter, qualified public depositories shall: 118 (e) Participate in the Financial Literacy Program for 119 Individuals with Developmental Disabilities as required under s. 120 17.68. 121 Section 3. For the 2016-2017 fiscal year, the sums of 122 $63,664 in recurring funds and $73,570 in nonrecurring funds 123 from the Insurance Regulatory Trust Fund are appropriated to the 124 Consumer Assistance Program within the Department of Financial 125 Services, and one full-time equivalent position with associated 126 salary rate of 41,114 is authorized, for the purpose of 127 implementing the program created by this act. 128 Section 4. This act shall take effect January 1, 2017.