Florida Senate - 2016                              CS for SB 376
       By the Committee on Fiscal Policy; and Senator Hukill
       594-01458-16                                           2016376c1
    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.
   29  Be It Enacted by the Legislature of the State of Florida:
   31         Section 1. Section 17.68, Florida Statutes, is created to
   32  read:
   33         17.68Financial 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 sum of
  122  $69,570 in recurring funds from the Insurance Regulatory Trust
  123  Fund is appropriated to the Consumer Assistance Program within
  124  the Department of Financial Services for the purpose of
  125  implementing the program created by this act.
  126         Section 4. This act shall take effect January 1, 2017.