House
File
2474
-
Introduced
HOUSE
FILE
2474
BY
COMMITTEE
ON
COMMERCE
(SUCCESSOR
TO
HF
2181)
A
BILL
FOR
An
Act
establishing
an
Iowa
financial
literacy
program
within
1
the
office
of
the
treasurer
of
state.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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2474
Section
1.
NEW
SECTION
.
12G.1
Iowa
financial
literacy
1
program
——
legislative
intent.
2
The
general
assembly
finds
that
the
general
welfare
of
this
3
state
and
well-being
of
its
citizens
is
directly
related
to
4
the
financial
education
of
those
citizens.
While
the
state
5
has
limited
resources
to
promote
financial
literacy,
a
vital
6
and
valid
public
purpose
shall
be
served
by
the
creation
7
and
implementation
of
programs
which
encourage
and
make
8
possible
the
attainment
of
financial
literacy
by
the
largest
9
possible
number
of
citizens
in
this
state,
and
particularly
by
10
low-income
to
moderate-income
families.
11
Sec.
2.
NEW
SECTION
.
12G.2
Program
created.
12
An
Iowa
financial
literacy
program
is
created
within
the
13
office
of
the
treasurer
of
state.
The
treasurer
of
state
shall
14
have
all
powers
necessary
to
carry
out
and
effectuate
the
15
purposes,
objectives,
and
provisions
pertaining
to
the
program,
16
including
the
authority
to
do
all
of
the
following:
17
1.
Promote
the
advantages
of
personal
savings
and
the
18
viability
and
desirability
of
implementing
a
personal
savings
19
program
regardless
of
an
individual’s
or
family’s
financial
20
status.
21
2.
Create
an
incentive
program
and
awards
ceremony
whereby
22
individuals
and
families
who
have
made
significant
progress
23
toward
achieving
personal
savings
goals
shall
be
officially
24
recognized.
25
3.
Create
strategies
for
coordination
of
the
program
with
26
the
Iowa
educational
savings
plan
trust
established
in
chapter
27
12D.
28
4.
Make
presentations
to
groups
including
but
not
limited
29
to
schools,
hospitals,
civic
organizations,
and
privately
30
organized
clubs
and
groups
regarding
the
existence
of
the
31
program.
32
5.
Coordinate
conferences,
meetings,
and
events
which
33
promote
financial
literacy
and
education.
34
Sec.
3.
NEW
SECTION
.
12G.3
Funding.
35
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2474
The
treasurer
of
state
may
utilize
and
allocate
any
funds
1
legally
available
for
purposes
of
promoting
financial
literacy
2
to
administer
the
program
created
in
section
12G.2,
and
shall
3
submit
a
report
to
the
governor
and
the
general
assembly
4
regarding
the
program
on
an
annual
basis.
5
EXPLANATION
6
This
bill
provides
for
the
establishment
of
a
financial
7
literacy
program
within
the
office
of
the
treasurer
of
state.
8
The
objective
of
the
program
shall
be
to
encourage
and
make
9
possible
the
achievement
of
financial
literacy
by
the
largest
10
number
of
citizens
in
Iowa,
and
especially
by
low
to
moderate
11
income
families.
12
The
bill
provides
that
the
state
treasurer
shall
be
13
authorized
to
promote
the
advantages
of
personal
savings
and
14
the
viability
and
desirability
of
implementing
a
personal
15
savings
program
regardless
of
an
individual’s
or
a
family’s
16
financial
status;
to
create
an
incentive
program
and
awards
17
ceremony
recognizing
individuals
and
families
who
have
made
18
significant
progress
toward
achieving
personal
savings
goals;
19
to
create
strategies
for
coordination
of
the
program
with
the
20
Iowa
educational
savings
plan
trust;
to
make
presentations
to
21
schools,
hospitals,
civic
organizations,
privately
organized
22
clubs
and
groups
and
other
groups
regarding
the
existence
of
23
the
program;
and
to
coordinate
conferences,
meetings,
and
24
events
promoting
financial
literacy
and
education.
25
The
bill
allows
the
treasurer
of
state
to
utilize
and
26
allocate
any
funds
legally
available
for
purposes
of
promoting
27
the
program,
and
directs
the
treasurer
to
submit
a
report
to
28
the
governor
and
the
general
assembly
regarding
the
program
on
29
an
annual
basis.
30
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