S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7720

                            I N  S E N A T E

                              May 12, 2016
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Children and Families

AN ACT to amend the social services law, in relation to  establishing  a
  program for financial transitional living services for foster children

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The social services law is amended by adding a new  section
393 to read as follows:
  S  393.  PROGRAM FOR FINANCIAL TRANSITIONAL LIVING SERVICES FOR FOSTER
CHILDREN. 1. THE OFFICE OF CHILDREN AND FAMILY SERVICES SHALL  ESTABLISH
A PROGRAM TO ASSIST FOSTER CHILDREN IN THE CARE, CUSTODY OR GUARDIANSHIP
OF  AN  AUTHORIZED AGENCY TO ACHIEVE FINANCIAL SECURITY AND INDEPENDENCE
AS THE CHILDREN TRANSITION TO INDEPENDENT LIVING.
  2. THE OFFICE OF CHILDREN AND FAMILY  SERVICES  SHALL  ENTER  INTO  AN
AGREEMENT  WITH FINANCIAL INSTITUTIONS TO ESTABLISH INDEPENDENT DEVELOP-
MENT SAVINGS ACCOUNTS FOR FOSTER CHILDREN OVER THE AGE OF SIXTEEN IN THE
STATE. THE AGREEMENT MUST:
  (A) PROHIBIT A FOSTER CHILD FROM WITHDRAWING MONEY  FROM  THE  SAVINGS
ACCOUNT UNTIL THE EARLIER OF:
  (I)  THE  FIRST ANNIVERSARY OF THE DATE THE FIRST DEPOSIT IS MADE INTO
THE SAVINGS ACCOUNT; OR
  (II) THE DATE THE BALANCE IN  THE  SAVINGS  ACCOUNT  FIRST  EQUALS  OR
EXCEEDS TWO THOUSAND DOLLARS;
  (B)  AUTHORIZE  A  FOSTER  CHILD  TO  WITHDRAW  MONEY FROM THE SAVINGS
ACCOUNT ONLY IN PERSON AT THE FINANCIAL INSTITUTION;
  (C) PROVIDE THAT THE BALANCE IN THE SAVINGS ACCOUNT MAY NOT EXCEED TWO
THOUSAND DOLLARS AND ESTABLISH PROCEDURES FOR THE TRANSFER OR WITHDRAWAL
OF THE AMOUNT OF MONEY THAT EXCEEDS TWO THOUSAND DOLLARS WHEN NECESSARY;
  (D) REQUIRE THE OFFICE OF CHILDREN AND FAMILY SERVICES AND THE  FINAN-
CIAL  INSTITUTION  TO  WORK  TOGETHER  TO  ENCOURAGE THE FOSTER CHILDREN
PARTICIPATING IN THE PROGRAM TO OPEN PRIVATE SAVINGS ACCOUNTS  ONCE  THE
PARTICIPANTS ARE NO LONGER ELIGIBLE FOR FOSTER CARE SERVICES; AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15452-01-6

              

S. 7720                             2

  (E)  ESTABLISH  PROCEDURES  TO  TRANSFER  OWNERSHIP AND CONTROL OF THE
ACCOUNT TO THE PARTICIPANTS EXITING THE PROGRAM WHO ARE NO LONGER ELIGI-
BLE FOR FOSTER CARE SERVICES.
  3.  THE  OFFICE  OF CHILDREN AND FAMILY SERVICES SHALL SEEK TO PARTNER
WITH OTHER PUBLIC AND PRIVATE ENTITIES TO MATCH  THE  AMOUNTS  OF  MONEY
DEPOSITED  INTO  THE  FOSTER  CHILDREN'S INDEPENDENT DEVELOPMENT SAVINGS
ACCOUNTS UNDER THE PROGRAM. THE MATCHING FUNDS MUST BE DEPOSITED DIRECT-
LY INTO THE CHILD'S SAVINGS ACCOUNT.
  4. (A) THE OFFICE OF CHILDREN AND FAMILY SERVICES AND  THE  PUBLIC  OR
PRIVATE  ENTITIES  SELECTED  AS PARTNERS UNDER SUBDIVISION THREE OF THIS
SECTION SHALL JOINTLY ESTABLISH INCENTIVES TO PROVIDE FINANCIAL  REWARDS
TO FOSTER CHILDREN FOR ACTIONS PERFORMED BY THE CHILDREN, INCLUDING, BUT
NOT  LIMITED  TO, COLLEGE VISITS OR ATTENDANCE AT FINANCIAL LITERACY AND
INDEPENDENT LIVING CLASSES.
  (B) FOSTER CHILDREN PARTICIPATING IN THE PROGRAM SHALL BE REQUIRED  TO
ATTEND  FINANCIAL  LITERACY AND INDEPENDENT LIVING CLASSES. SUCH CLASSES
MAY INCLUDE, BUT NEED NOT BE LIMITED TO INSTRUCTION  ON  USING  CHECKING
AND  SAVINGS  ACCOUNTS,  SECURING  A  LOAN FOR HIGH COST ITEMS SUCH AS A
MOTOR VEHICLE OR A HOME, OBTAINING AND USING  CREDIT  AND  DEBIT  CARDS,
INVESTING   AND  SAVING  MONEY,  APPLYING  TO  POST-SECONDARY  EDUCATION
PROGRAMS, AND SECURING HOUSING AND EMPLOYMENT.   ATTENDANCE  AND  ACTIVE
PARTICIPATION  IN  SUCH  CLASSES  SHALL  ENTITLE  FOSTER CHILDREN TO THE
FINANCIAL INCENTIVES ESTABLISHED UNDER PARAGRAPH (A)  OF  THIS  SUBDIVI-
SION.
  5.  MONEY  THAT  MAY  BE DEPOSITED IN A FOSTER CHILD'S SAVINGS ACCOUNT
ESTABLISHED UNDER THIS SECTION INCLUDES:
  (A) MONEY EARNED BY THE CHILD THROUGH EMPLOYMENT OR ALLOWANCE;
  (B) GIFT MONEY;
  (C) MONEY DEPOSITED BY THE CHILD'S FOSTER PARENT OR  BY  A  PARENT  OR
OTHER RELATIVE OF THE CHILD;
  (D)  MONEY  RECEIVED FROM PUBLIC OR PRIVATE ENTITIES SELECTED AS PART-
NERS UNDER SUBDIVISION THREE OF THIS SECTION AS FINANCIAL INCENTIVES  OR
MATCHING FUNDS; AND
  (E)  OTHER  MONEY AUTHORIZED UNDER THE DEPARTMENT'S AGREEMENT WITH THE
CREDIT UNION.
  6. THE OFFICE OF CHILDREN AND FAMILY SERVICES SHALL SURVEY EACH FOSTER
CHILD WHO ENTERS AND EXITS THE PROGRAM. THE SURVEY MUST BE  DESIGNED  TO
ASSESS  ANY CHANGES IN THE CHILD'S ATTITUDES, PERCEPTIONS, AND KNOWLEDGE
ABOUT FINANCIAL MATTERS AND INDEPENDENT LIVING FROM THE TIME  THE  CHILD
ENTERED THE PROGRAM UNTIL THE CHILD EXITED THE PROGRAM.
  7.  THE OFFICE OF CHILDREN AND FAMILY SERVICES SHALL COMPLETE NO LATER
THAN DECEMBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN, AND  ANNUALLY  THERE-
AFTER, AN EVALUATION OF THE PROGRAM.
  8. THE OFFICE OF CHILDREN AND FAMILY SERVICES SHALL SUBMIT A REPORT ON
THE  EVALUATION OF THE PROGRAM CONDUCTED UNDER SUBDIVISION SEVEN OF THIS
SECTION NO LATER THAN APRIL FIRST, TWO THOUSAND NINETEEN,  AND  ANNUALLY
THEREAFTER,  TO  THE  GOVERNOR,  TEMPORARY  PRESIDENT  OF THE SENATE AND
SPEAKER OF THE ASSEMBLY.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have  become  a  law; provided, however, that effective immediately, the
addition, amendment and/or repeal of any rule  or  regulation  necessary
for  the implementation of this act on its effective date are authorized
and directed to be made and completed on or before such effective date.