HF 2293 (LSB 5934HH (3) 84)

HOUSE FILE 2293

BY  BERRY

A BILL FOR

An Act requiring the division of community action agencies to implement a financial literacy education program for clients of community action agencies and making appropriations.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 216A.92, subsection 2, Code 2011, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  e.  Subject to the availability of appropriations or other funding, implement a financial literacy education program through grants to community action agencies for the clients of the agencies. For the purposes of this paragraph, “financial literacy” means being knowledgable regarding the development of a spending plan, working with checking and savings accounts, the use of credit and credit reports, the process for securing a loan, and other financial responsibility matters and financial management skills.
    Sec. 2.  FINANCIAL LITERACY EDUCATION —— COMMUNITY ACTION PROGRAMS.  There is appropriated from the general fund of the state to the department of human rights for the fiscal year beginning July 1, 2012, and ending June 30, 2013, the following amount, or so much thereof as is necessary, to be used for the purposes designated:
   For the division of community action agencies to implement a financial literacy education program through grants to community action agencies for agency clients in accordance with section 216A.92:
.................................................. $  1,000,000
   1.  The division shall distribute the appropriation made in this section through grants to recognized community action agencies.
   2.  Notwithstanding section 8.33, moneys appropriated in this section that remain unencumbered or unobligated at the close of the fiscal year shall not revert but shall remain available for expenditure for the purposes designated until the close of the succeeding fiscal year.
EXPLANATION
   This bill requires the division of community action agencies of the department of human rights to implement a financial literacy education program for clients of community action agencies.
   Code section 216A.92, relating to the duties of the division, is amended to require the division to implement the program through the agencies for the clients of the agencies.
   The bill includes an FY 2012-2013 appropriation for purposes of the program. The appropriation has a nonreversion clause allowing unused funds to carry forward to be used for purposes of the program in the succeeding fiscal year.