Bill Text: TX SB1379 | 2023-2024 | 88th Legislature | Enrolled
Bill Title: Relating to a pilot program to increase the financial independence of foster youth who are transitioning to independent living.
Spectrum: Bipartisan Bill
Status: (Passed) 2023-06-18 - Effective on 9/1/23 [SB1379 Detail]
Download: Texas-2023-SB1379-Enrolled.html
| S.B. No. 1379 | ||
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| relating to a pilot program to increase the financial independence | ||
| of foster youth 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 264.1215 to read as follows: | ||
| Sec. 264.1215. PILOT PROGRAM FOR FINANCIAL TRANSITIONAL | ||
| LIVING SERVICES. (a) The department shall establish a pilot | ||
| program to assist foster youth to achieve financial security and | ||
| independence as the youth transition to independent living. | ||
| (b) The department shall enter into an agreement with one or | ||
| more banks, credit unions, or other financial institutions to | ||
| establish savings and checking accounts for foster youth who are at | ||
| least 14 but not more than 21 years of age and participate in the | ||
| pilot program. The agreement must include the following terms: | ||
| (1) notwithstanding Section 34.305(c), Finance Code, | ||
| a requirement that foster youth participating in the program are | ||
| the sole owner of the savings and checking accounts and may | ||
| establish savings and checking accounts without a co-signor; | ||
| (2) a requirement that the department and the bank, | ||
| credit union, or other financial institution together encourage the | ||
| foster youth participating in the program to open or continue | ||
| private savings and checking accounts once the participants are no | ||
| longer eligible for the program; | ||
| (3) procedures to ensure the participants maintain | ||
| ownership and control of the account at the time the participants | ||
| exit the program; | ||
| (4) a requirement that the bank, credit union, or | ||
| other financial institution provide to participants in the program | ||
| a checking and savings account that does not require maintenance | ||
| fees and cannot incur overdraft fees, nonsufficient funds fees, | ||
| inactivity fees, or any other penalty fees; and | ||
| (5) options to make financial coaching or mentoring | ||
| available to foster youth participating in the pilot program. | ||
| (c) The department may seek to partner with persons, | ||
| including nonprofit organizations or foundations, to match the | ||
| amounts of money deposited into the foster youth savings accounts | ||
| under the pilot program. The matching funds must be deposited | ||
| directly into a youth's savings account. | ||
| (d) The department and a person selected as a partner under | ||
| Subsection (c) may jointly establish incentives to provide | ||
| financial rewards to foster youth for actions performed by the | ||
| youth. | ||
| (e) The department shall survey each foster youth who enters | ||
| and exits the pilot program. The survey must be designed to assess | ||
| any changes in the youth's attitudes, perceptions, and knowledge | ||
| about financial matters from the time the youth entered the program | ||
| until the youth exited the program. | ||
| (f) The department shall complete an evaluation of the pilot | ||
| program and submit a report on the evaluation of the pilot program | ||
| conducted under this section to the governor, lieutenant governor, | ||
| and speaker of the house of representatives as soon as the | ||
| evaluation is complete but not later than December 31, 2027. | ||
| (g) A foster youth may not be denied the rights granted | ||
| under Section 264.0111 to control money earned by the youth that is | ||
| deposited into a savings or checking account under the pilot | ||
| program. | ||
| (h) If the department is unable to enter into an agreement | ||
| with a bank, credit union, or other financial institution, the | ||
| department shall include in the report required under Subsection | ||
| (f) a description of any legal or practical barriers that must be | ||
| addressed to ensure foster youth are able to participate in the | ||
| pilot program and establish savings and checking accounts before | ||
| the foster youth are no longer eligible for foster care services. | ||
| (i) This section expires January 1, 2028. | ||
| 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 264.1215, Family | ||
| Code, as added by this Act. | ||
| SECTION 3. This Act takes effect September 1, 2023. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.B. No. 1379 passed the Senate on | ||
| April 27, 2023, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.B. No. 1379 passed the House on | ||
| May 24, 2023, by the following vote: Yeas 131, Nays 7, one | ||
| present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
