Texas 2015 - 84th Regular

Texas House Bill HB3967 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R3258 YDB-D
2	2	By: Dukes H.B. No. 3967
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to a pilot program to increase the financial independence
8	8	of foster children who are transitioning to independent living.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subchapter B, Chapter 264, Family Code, is
11	11	amended by adding Section 264.1212 to read as follows:
12	12	Sec. 264.1212. PILOT PROGRAM FOR FINANCIAL TRANSITIONAL
13	13	LIVING SERVICES. (a) The department shall establish a pilot
14	14	program to assist foster children in the conservatorship of the
15	15	department to achieve financial security and independence as the
16	16	children transition to independent living.
17	17	(b) The department shall enter into an agreement with a
18	18	credit union to establish savings accounts for foster children who,
19	19	under an agreement with the department and credit union,
20	20	participate in the pilot program. The agreement must:
21	21	(1) subject to Subsection (j), prohibit a foster child
22	22	from withdrawing money from the savings account until the earlier
23	23	of:
24	24	(A) the first anniversary of the date the first
25	25	deposit is made into the savings account; or
26	26	(B) the date the balance in the savings account
27	27	first equals or exceeds $2,000;
28	28	(2) authorize a foster child to withdraw money from
29	29	the savings account only in person at the credit union;
30	30	(3) provide that the balance in the savings account
31	31	may not exceed $2,000 and establish procedures for the transfer or
32	32	withdrawal of the amount of money that exceeds $2,000 when
33	33	necessary;
34	34	(4) require the department and the credit union to
35	35	work together to encourage the foster children participating in the
36	36	program to open private savings accounts once the participants are
37	37	no longer eligible for foster care services; and
38	38	(5) establish procedures to transfer ownership and
39	39	control of the account to the participants exiting the program who
40	40	are no longer eligible for foster care services.
41	41	(c) The department shall seek to partner with a person,
42	42	including a foundation, to match the amounts of money deposited
43	43	into the foster children savings accounts under the pilot program.
44	44	The matching funds must be deposited directly into the child's
45	45	savings account.
46	46	(d) The department and the person selected as a partner
47	47	under Subsection (c) shall jointly establish incentives to provide
48	48	financial rewards to foster children for actions performed by the
49	49	children, including college visits or attendance at financial
50	50	education classes. The financial rewards may only be paid by the
51	51	person and are not available for matching funds provided under
52	52	Subsection (c).
53	53	(e) Not later than January 1 of each even-numbered year, the
54	54	department shall select at least 20 foster children who are age 16
55	55	to participate in the pilot program established under this section.
56	56	(f) Money that may be deposited in a foster child's savings
57	57	account established under the pilot program includes:
58	58	(1) money earned by the child through employment or
59	59	allowance;
60	60	(2) gift money;
61	61	(3) money deposited by the child's foster parent or by
62	62	a parent or other relative of the child;
63	63	(4) money received from the person selected as a
64	64	partner under Subsection (c) as financial incentives or matching
65	65	funds; and
66	66	(5) other money authorized under the department's
67	67	agreement with the credit union.
68	68	(g) The department shall survey each foster child who enters
69	69	and exits the pilot program. The survey must be designed to assess
70	70	any changes in the child's attitudes, perceptions, and knowledge
71	71	about financial matters from the time the child entered the program
72	72	until the child exited the program.
73	73	(h) The department shall complete an evaluation of the pilot
74	74	program not later than December 31, 2020.
75	75	(i) The department shall submit a report on the evaluation
76	76	of the pilot program conducted under Subsection (h) to the
77	77	governor, lieutenant governor, and speaker of the house of
78	78	representatives as soon as the evaluation is complete. The
79	79	department shall submit a second report evaluating the pilot
80	80	program to the governor, lieutenant governor, and speaker of the
81	81	house of representatives not later than December 31, 2022.
82	82	(j) A foster child may not be denied the rights granted
83	83	under Section 264.0111 to control money earned by the child that is
84	84	deposited into a savings account under the pilot program.
85	85	(k) This section expires December 31, 2022.
86	86	SECTION 2. As soon as practicable after the effective date
87	87	of this Act, the Department of Family and Protective Services shall
88	88	establish the pilot program as required by Section 264.1212, Family
89	89	Code, as added by this Act.
90	90	SECTION 3. This Act takes effect September 1, 2015.