72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 348
                            Corrected
 
                           B-Engrossed
 
                         Senate Bill 56
                   Ordered by the House May 22
 Including Senate Amendments dated April 22 and House Amendments
                          dated May 22
 
Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of Joint Interim Committee on
  Health and Human Resources)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
 
  Creates planning and advisory committee on promotion of
financial education and financial self-sufficiency. { +  Allows
Housing and Community Services Department to accept
contributions.  Requires all funds be deposited in Housing and
Community Services Department Revolving Account. + }
  Declares emergency, effective on passage.
 
                        A BILL FOR AN ACT
Relating to committee on financial education and financial
  self-sufficiency; appropriating money; and declaring an
  emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) As used in this section, 'financial
education' means financial skills training that enables an
individual to become financially self-sufficient. 'Financial
education' includes training in:
  (a) Personal and general finance management;
  (b) Family budgeting;
  (c) Sound financial decision-making;
  (d) Debt reduction and credit repair; and
  (e) Banking services.
  (2) There is created a planning and advisory committee on the
promotion of financial education and financial self-sufficiency,
to be appointed as follows:
  (a) One member who represents the office of the State
Treasurer, appointed by the State Treasurer;
  (b) One member who represents the Housing and Community
Services Department, appointed by the Director of the Housing and
Community Services Department;
  (c) One member who represents the Department of Human Services,
appointed by the Director of Human Services;
 
  (d) One member who represents the Employment Department,
appointed by the Director of the Employment Department;
  (e) One member who represents the Economic and Community
Development Department, appointed by the Director of the Economic
and Community Development Department;
  (f) One member who represents the Oregon Student Assistance
Commission, appointed by the executive director of the Oregon
Student Assistance Commission;
  (g) One member who represents groups that administer and
promote microenterprise development, appointed by the Director of
the Economic and Community Development Department;
  (h) One member who represents regional workforce investment
boards, appointed by the Commissioner for Community College
Services;
  (i) One member who represents community action agencies,
appointed by the Director of the Housing and Community Services
Department;
  (j) One member who represents advocacy organizations that
provide services to senior citizens, appointed by the Director of
Human Services;
  (k) One member who represents private sector financial
organizations, appointed by the State Treasurer; and
  (L) One member who represents the Department of Consumer and
Business Services, appointed by the Director of the Department of
Consumer and Business Services.
  (3) In addition to the members appointed under subsection (2)
of this section, the State Treasurer and the Director of the
Housing and Community Services Department may appoint other
members to the planning and advisory committee who represent
other organizations.
  (4) In making appointments under subsections (2) and (3) of
this section, the appointing authorities shall ensure that the
planning and advisory committee reflects the diversity of
communities throughout the state.
  (5) The planning and advisory committee shall:
  (a) Study strategies that promote financial education;
  (b) Study how programs, policies and laws in the following
areas assist individuals to obtain financial self-sufficiency:
  (A) Financial education;
  (B) Small business and microenterprise development;
  (C) Personal savings and assets of Oregonians;
  (D) Housing and home ownership;
  (E) Quality child care;
  (F) Health care;
  (G) Insurance and risk management;
  (H) Retirement and long-term care; and
  (I) Any other area that helps people to attain financial
self-sufficiency; and
  (c) Make recommendations concerning coordinating and expanding
strategies that promote financial education and financial
self-sufficiency.
  (6) In making its recommendations under subsection (5)(c) of
this section, the planning and advisory committee shall consider:
  (a) The practical and legal aspects of coordinating or
integrating state-administered asset development programs that
create individual accounts, including but not limited to
individual education accounts created pursuant to ORS 411.894,
the Individual Children's Development Account Program under ORS
417.900 and individual development accounts as defined in ORS
458.670;
  (b) Ways to improve public awareness of available state and
community-based programs promoting financial education and
financial self-sufficiency;
  (c) Planning efforts that are related to financial education
and financial self-sufficiency in program areas such as workforce
development, microenterprise development, children and family
services, kindergarten through grade 12 education, economic
development, services provided to senior citizens and any other
relevant planning initiatives;
  (d) Federal policy developments related to individual
development accounts and other financial education and financial
self-sufficiency strategies;
  (e) Approaches used by other states to promote financial
education and financial self-sufficiency;
  (f) Tax incentives for financial education and financial
self-sufficiency strategies; and
  (g) Implications of the recommendations for state agency
budgets.
  (7) A majority of the members of the planning and advisory
committee constitutes a quorum for the transaction of business.
  (8) Official action by the planning and advisory committee
requires the approval of a majority of the members of the
committee.
  (9) No later than February 1, 2004, the planning and advisory
committee shall submit any preliminary budget-related
recommendations to:
  (a) The State Treasurer;
  (b) The Housing and Community Services Department;
  (c) The Department of Human Services;
  (d) The Employment Department;
  (e) The Economic and Community Development Department;
  (f) The Oregon Student Assistance Commission;
  (g) The Department of Community Colleges and Workforce
Development; and
  (h) The Department of Consumer and Business Services.
  (10) No later than November 1, 2006, the planning and advisory
committee shall submit its final recommendations to the
legislative interim committees related to human services and to
the agencies listed in subsection (9) of this section.
  (11) The planning and advisory committee shall designate
facilitators for the committee.
  (12) Members of the planning and advisory committee are not
entitled to compensation, but may be reimbursed for actual and
necessary travel and other expenses incurred by them in the
performance of their official duties, in the manner and amounts
provided for in ORS 292.495. The Housing and Community Services
Department shall pay claims for expenses out of funds
appropriated or transferred to the department for that purpose.
  (13) Subject to available funding from private sources or from
public funds that are in addition to the Housing and Community
Services Department budget adopted by the Legislative Assembly,
the department shall provide staff support for the planning and
advisory committee. The agencies listed in subsection (9) of this
section shall provide funds or in-kind contributions to cover
other administrative costs of the planning and advisory
committee.
  (14)(a) The Housing and Community Services Department may
accept contributions of funds and assistance from the United
States Government or its agencies or from any other source,
public or private, and agree to conditions placed on the funds
not inconsistent with the purposes of this section.
  (b) The Housing and Community Services Department shall pay all
funds received under this subsection to the State Treasury, to be
deposited in the Housing and Community Services Department
Revolving Account. Funds deposited under this paragraph are
appropriated continuously to the Housing and Community Services
Department for the purpose of carrying out the provisions of this
section. + }
  SECTION 2.  { + Section 1 of this 2003 Act is repealed on June
30, 2007. + }
  SECTION 3.  { + This 2003 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2003 Act takes effect on its
passage. + }
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