88R6715 BDP-F     By: Parker S.B. No. 1379       A BILL TO BE ENTITLED   AN ACT   relating to a pilot program to increase the financial independence   of foster children who are transitioning to independent living.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter B, Chapter 264, Family Code, is   amended by adding Section 264.1215 to read as follows:          Sec. 264.1215.  PILOT PROGRAM FOR FINANCIAL TRANSITIONAL   LIVING SERVICES. (a) The department shall establish a pilot   program to assist foster children to achieve financial security and   independence as the children transition to independent living.          (b)  Notwithstanding Section 34.305(c), Finance Code, the   department shall enter into an agreement with a credit union or   other financial institution to establish savings and checking   accounts for foster children who, under an agreement with the   department and credit union or other financial institution,   participate in the pilot program. The agreement may include, as   appropriate, the following terms:                (1)  a requirement that the department and the credit   union or other financial institution together encourage the foster   children participating in the program to open or continue private   savings and checking accounts once the participants are no longer   eligible for foster care services;                (2)  procedures to transfer ownership and control of   the account to the participants exiting the program who are no   longer eligible for foster care services;                (3)  safeguards to prevent overdraft fees or any other   fees that the foster child may incur;                (4)  options to make financial coaching or mentoring   available to foster children participating in the pilot program;   and                (5)  the age a foster child may participate in the pilot   program without a co-signor.          (c)  The department may seek to partner with a person,   including a foundation, to match the amounts of money deposited   into the foster children savings and checking accounts under the   pilot program. The matching funds must be deposited directly into   the child's savings or checking account.          (d)  The department and the person selected as a partner   under Subsection (c) may jointly establish incentives to provide   financial rewards to foster children for actions performed by the   children, including college visits or attendance at financial   education classes. The financial rewards may only be paid by the   person and are not available for matching funds provided under   Subsection (c).          (e)  Money that may be deposited in a foster child's savings   and checking account established under the pilot program includes:                (1)  money earned by the child through employment or   allowance;                (2)  gift money;                (3)  money deposited by the child's foster parent or by   a parent or other relative of the child;                (4)  money received from the person selected as a   partner under Subsection (c) as financial incentives or matching   funds; and                (5)  other money authorized under the department's   agreement with the credit union or other financial institution.          (f)  The department shall survey each foster child who enters   and exits the pilot program. The survey must be designed to assess   any changes in the child's attitudes, perceptions, and knowledge   about financial matters from the time the child entered the program   until the child exited the program.          (g)  The department shall complete an evaluation of the pilot   program not later than December 31, 2026.          (h)  The department shall submit a report on the evaluation   of the pilot program conducted under Subsection (g) to the   governor, lieutenant governor, and speaker of the house of   representatives as soon as the evaluation is complete but not later   than December 31, 2026.          (i)  A foster child may not be denied the rights granted   under Section 264.0111 to control money earned by the child that is   deposited into a savings or checking account under the pilot   program.          (j)  If the department is unable to enter into an agreement   with a credit union or other financial institution, the department   shall include in the report required under Subsection (h) a   description of any legal or practical barriers that must be   addressed to ensure foster children are able to participate in the   pilot program and establish savings and checking accounts before   the foster children are no longer eligible for foster care   services.          (k)  This section expires December 31, 2030.          SECTION 2.  As soon as practicable after the effective date   of this Act, the Department of Family and Protective Services shall   establish the pilot program as required by Section 264.1215, Family   Code, as added by this Act.          SECTION 3.  This Act takes effect September 1, 2023.