LCO No. 4512 1 of 2
General Assembly Raised Bill No. 6661
January Session, 2021
LCO No. 4512
Referred to Committee on APPROPRIATIONS
Introduced by:
(APP)
AN ACT CONCERNING TH E ESTABLISHMENT OF A FINANCIAL
LITERACY TRUST FUND.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective from passage) (a) There is established a fund 1
to be known as the "Financial Literacy Trust Fund" to promote the 2
financial literacy of residents of the state, which shall be a nonlapsing 3
fund held by the Treasurer separate and apart from all other moneys, 4
funds and accounts. The trust fund shall constitute an instrumentality 5
of the state and shall perform essential governmental functions. The 6
trust fund shall receive and hold all payments and deposits or 7
contributions intended for the trust fund, including gifts, bequests, 8
endowments or federal, state or local grants and any other funds from 9
any public or private source and all earnings until disbursed in 10
accordance with this act. 11
(b) The Treasurer shall use the funds deposited into the Financial 12
Literacy Trust Fund for the purpose of promoting and raising awareness 13
of financial literacy to residents of the state. 14 Raised Bill No. 6661
LCO No. 4512 2 of 2
This act shall take effect as follows and shall amend the following
sections:
Section 1 from passage New section
Statement of Purpose:
To establish the Financial Literacy Trust Fund to be used by the
Treasurer to promote and raise awareness of financial literacy to state
residents.