Bill Text: TX HB3967 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to a pilot program to increase the financial independence of foster children who are transitioning to independent living.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-05-11 - Reported favorably as substituted [HB3967 Detail]
Download: Texas-2015-HB3967-Introduced.html
84R3258 YDB-D | ||
By: Dukes | H.B. No. 3967 |
|
||
|
||
relating to a pilot program to increase the financial independence | ||
of foster children who are transitioning to independent living. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter B, Chapter 264, Family Code, is | ||
amended by adding Section 264.1212 to read as follows: | ||
Sec. 264.1212. PILOT PROGRAM FOR FINANCIAL TRANSITIONAL | ||
LIVING SERVICES. (a) The department shall establish a pilot | ||
program to assist foster children in the conservatorship of the | ||
department to achieve financial security and independence as the | ||
children transition to independent living. | ||
(b) The department shall enter into an agreement with a | ||
credit union to establish savings accounts for foster children who, | ||
under an agreement with the department and credit union, | ||
participate in the pilot program. The agreement must: | ||
(1) subject to Subsection (j), prohibit a foster child | ||
from withdrawing money from the savings account until the earlier | ||
of: | ||
(A) the first anniversary of the date the first | ||
deposit is made into the savings account; or | ||
(B) the date the balance in the savings account | ||
first equals or exceeds $2,000; | ||
(2) authorize a foster child to withdraw money from | ||
the savings account only in person at the credit union; | ||
(3) provide that the balance in the savings account | ||
may not exceed $2,000 and establish procedures for the transfer or | ||
withdrawal of the amount of money that exceeds $2,000 when | ||
necessary; | ||
(4) require the department and the credit union to | ||
work together to encourage the foster children participating in the | ||
program to open private savings accounts once the participants are | ||
no longer eligible for foster care services; and | ||
(5) establish procedures to transfer ownership and | ||
control of the account to the participants exiting the program who | ||
are no longer eligible for foster care services. | ||
(c) The department shall seek to partner with a person, | ||
including a foundation, to match the amounts of money deposited | ||
into the foster children savings accounts under the pilot program. | ||
The matching funds must be deposited directly into the child's | ||
savings account. | ||
(d) The department and the person selected as a partner | ||
under Subsection (c) shall jointly establish incentives to provide | ||
financial rewards to foster children for actions performed by the | ||
children, including college visits or attendance at financial | ||
education classes. The financial rewards may only be paid by the | ||
person and are not available for matching funds provided under | ||
Subsection (c). | ||
(e) Not later than January 1 of each even-numbered year, the | ||
department shall select at least 20 foster children who are age 16 | ||
to participate in the pilot program established under this section. | ||
(f) Money that may be deposited in a foster child's savings | ||
account established under the pilot program includes: | ||
(1) money earned by the child through employment or | ||
allowance; | ||
(2) gift money; | ||
(3) money deposited by the child's foster parent or by | ||
a parent or other relative of the child; | ||
(4) money received from the person selected as a | ||
partner under Subsection (c) as financial incentives or matching | ||
funds; and | ||
(5) other money authorized under the department's | ||
agreement with the credit union. | ||
(g) The department shall survey each foster child who enters | ||
and exits the pilot program. The survey must be designed to assess | ||
any changes in the child's attitudes, perceptions, and knowledge | ||
about financial matters from the time the child entered the program | ||
until the child exited the program. | ||
(h) The department shall complete an evaluation of the pilot | ||
program not later than December 31, 2020. | ||
(i) The department shall submit a report on the evaluation | ||
of the pilot program conducted under Subsection (h) to the | ||
governor, lieutenant governor, and speaker of the house of | ||
representatives as soon as the evaluation is complete. The | ||
department shall submit a second report evaluating the pilot | ||
program to the governor, lieutenant governor, and speaker of the | ||
house of representatives not later than December 31, 2022. | ||
(j) A foster child may not be denied the rights granted | ||
under Section 264.0111 to control money earned by the child that is | ||
deposited into a savings account under the pilot program. | ||
(k) This section expires December 31, 2022. | ||
SECTION 2. As soon as practicable after the effective date | ||
of this Act, the Department of Family and Protective Services shall | ||
establish the pilot program as required by Section 264.1212, Family | ||
Code, as added by this Act. | ||
SECTION 3. This Act takes effect September 1, 2015. |