MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Education
By: Senator(s) Blount
AN ACT TO CREATE A TASK FORCE TO STUDY STRATEGIES FOR EDUCATING THE STATE'S RESIDENTS AND STUDENTS ABOUT PERSONAL FINANCES, INCLUDING, BUT NOT LIMITED TO, BUDGETING, SAVINGS, CREDIT AND IDENTITY THEFT, AND TO MAKE RECOMMENDATIONS TO THE LEGISLATURE ON HOW TO IMPROVE FINANCIAL LITERACY THROUGHOUT THE STATE; TO PROVIDE FOR THE MEMBERSHIP OF THE TASK FORCE; TO SET FORTH THE DUTIES OF THE TASK FORCE; TO PROVIDE THAT THE TASK FORCE SHALL PERFORM ITS DUTIES WITHOUT LEGISLATIVE APPROPRIATION OR USE OF ANY STATE FUNDS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The task force to study strategies for educating the state's residents about personal finances is hereby created to study and make recommendations to the Mississippi Legislature on how to improve financial literacy in Mississippi.
(2) Members of the task force shall be composed of the following:
(a) One (1) member who represents the Department of Education, to be appointed by the State Superintendent of Education;
(b) One (1) member who is serving in the Mississippi House of Representatives, appointed by the Speaker of the House;
(c) One (1) member who is serving in the Mississippi State Senate, appointed by the Lieutenant Governor;
(d) One (1) member who is employed by a financial institution in the business of making home mortgage loans, appointed by the President of the Mississippi Bankers Association;
(e) One (1) member appointed by the Governor;
(f) One (1) member who is a licensed realtor appointed by the President of the Mississippi Association of Realtors;
(g) One (1) member who is a certified public accountant appointed by the President of the Mississippi Society of Certified Public Accountants;
(h) One (1) member appointed by the President of the Mississippi Economic Council;
(i) One (1) member appointed by the State Treasurer;
(j) One (1) member who is employed by a financial institution in the business of making home mortgage loans, appointed by the President of the Mississippi Mortgage Bankers Association;
(k) One (1) member who is in the business of making home mortgage loans, appointed by the President of the Mississippi Mortgage Brokers Association;
(l) One (1) member appointed by the Secretary of State; and
(m) One (1) member appointed by the President of the Mississippi Council on Economic Education.
(3) The task force shall make recommendations to the Legislature on how to improve financial literacy throughout the state.
(4) Appointments to the task force shall be made within thirty (30) days after the effective date of this act.
(5) The task force shall hold its first meeting not later than June 1, 2010, with the date, time and location of the meeting to be designated by the Governor. At that first meeting, the task force shall elect from among its membership a chairman, vice chairman and any other officers determined to be necessary and shall set the date, time and locations of its subsequent meetings.
(6) Members of the task force shall serve without compensation for their services, and the task force shall perform its duties without legislative appropriation or use of any state funds for that purpose; however, the task force, by approval of a majority of the appointed members of the task force, is authorized to accept funds that may be donated or provided in the form of financial grants from public or private sources. Further, any department, agency or court of the state, at the request of the chairman, shall provide to the task force the staff and other support necessary for the task force to perform its duties. Upon presentation of its report to the Mississippi State Legislature at the 2011 Regular Session, the task force will be dissolved.
SECTION 2. This act shall take effect and be in force from and after July 1, 2010.