Bill Text: TX HB2614 | 2019-2020 | 86th 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 2-0)
Status: (Introduced - Dead) 2019-04-23 - Left pending in committee [HB2614 Detail]
Download: Texas-2019-HB2614-Introduced.html
| 86R10544 MM-F | ||
| By: Cole | H.B. No. 2614 | |
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| 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 264.1214 to read as follows: | ||
| Sec. 264.1214. PILOT PROGRAM FOR FINANCIAL TRANSITIONAL | ||
| LIVING SERVICES. (a) The department shall establish a pilot | ||
| program to assist foster children 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 or other financial institution to establish savings | ||
| accounts for foster children who, under an agreement with the | ||
| department and credit union or other financial institution, | ||
| participate in the pilot program. The agreement may include, as | ||
| appropriate, the following terms: | ||
| (1) subject to Subsection (j), a prohibition on a | ||
| foster child 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) a requirement that the department and the credit | ||
| union or other financial institution together 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 | ||
| (3) 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 may 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) may 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 may select not more than 20 foster children who are age | ||
| 16 or older 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 or other financial institution. | ||
| (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, 2024. | ||
| (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, 2026. | ||
| (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, 2026. | ||
| 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 264.1214, Family | ||
| Code, as added by this Act. | ||
| SECTION 3. This Act takes effect September 1, 2019. | ||
