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A BILL TO BE ENTITLED
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AN ACT
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relating to assistance and education regarding personal finance for |
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certain children in foster care. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 264.121, Family Code, is amended by |
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amending Subsections (a-1) and (f) and adding Subsection (a-2) to |
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read as follows: |
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(a-1) The department shall require a foster care provider to |
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provide or assist youth who are age 14 or older in obtaining |
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experiential life-skills training to improve their transition to |
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independent living. Experiential life-skills training must be |
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tailored to a youth's skills and abilities and may include training |
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in practical activities that include grocery shopping, meal |
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preparation and cooking, using public transportation, and |
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performing basic household tasks[, and balancing a checkbook]. |
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(a-2) The experiential life-skills training under |
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Subsection (a-1) must include a financial literacy education |
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program that: |
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(1) includes instruction on: |
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(A) obtaining and interpreting a credit score; |
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(B) protecting, repairing, and improving a |
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credit score; |
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(C) avoiding predatory lending practices; |
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(D) saving money and accomplishing financial |
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goals through prudent financial management practices; |
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(E) using basic banking and accounting skills, |
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including balancing a checkbook; |
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(F) using debit and credit cards responsibly; |
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(G) understanding a paycheck and items withheld |
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from a paycheck; and |
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(H) protecting financial, credit, and |
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identifying information in personal and professional |
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relationships; and |
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(2) assists a youth who has a source of income to |
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establish a savings plan and, if available, a savings account that |
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the youth can independently manage. |
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(f) The department shall require a person with whom the |
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department contracts for transitional living services for foster |
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youth to provide or assist youth in obtaining: |
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(1) housing services; |
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(2) job training and employment services; |
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(3) college preparation services; |
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(4) services that will assist youth in obtaining a |
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general education development certificate; [and] |
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(5) a savings or checking account if the youth is at |
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least 18 years of age and has a source of income; and |
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(6) any other appropriate transitional living service |
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identified by the department. |
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SECTION 2. This Act takes effect September 1, 2013. |