SPONSOR:	Rep. Barbieri & Sen. Hall-Long
	Reps. Baumbach, Heffernan, Q. Johnson, Keeley, Lynn, Paradee, Viola; Sen. Ennis

HOUSE OF REPRESENTATIVES

148th GENERAL ASSEMBLY

HOUSE BILL NO. 10

AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO OFFICE OF FINANCIAL EMPOWERMENT.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Chapter 79, Title 29 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:

§ 7997 Office of Financial Empowerment.

(a) The Office of Financial Empowerment is hereby established within the Office of the Secretary, Department of Health and Social Services.

(b) As used in this section:

(1) "Office" means the Office of Financial Empowerment.

(2) "Secretary" means the Secretary of the Department of Health and Social Services.

(c) The Office is established to address financial literacy and empowerment issues for the following purposes:

(1) To facilitate appropriate forums, programs or initiatives designed to educate the public regarding financial literacy and empowerment and provide personal financial coaching to economically vulnerable Delawareans.

(2) To assist the Secretary in identifying, coordinating and establishing priorities for programs, services, and resources the State should provide for financial literacy and personal financial empowerment.

(3) To serve as a resource to a broad variety of organizations in Delaware, including state agencies, employers, educational institutions, and non-profits, for information and services regarding financial literacy and empowerment.

(4) To provide relevant research information on economic security and financial empowerment and data conducted or compiled by Delaware Health and Social Services and other entities in collaboration with the Department.

(5) To seek funding from private or governmental entities to carry out the purposes of this chapter.

(6) To prepare materials for publication and dissemination to the public on financial literacy and empowerment.

(7) To conduct public educational forums in Delaware to raise public awareness and to educate citizens about financial literacy and empowerment.

(8) To coordinate the activities and programs of the Office with other entities that focus on financial literacy and empowerment, including other state agencies.

(d) The structure of the Office of Financial Empowerment will be determined by the Secretary, and such other employees as shall be determined by the Secretary.

SYNOPSIS

Stand By Me is an innovative financial empowerment program that has been operating within DHSS for the past two years. Stand By Me is designed as a partnership model, integrated into the culture and operations of businesses, educational institutions, state agencies, and non-profit organizations, funded almost exclusively by the private sector and is a robust program based on collaboration and best practices. In just two years since start up, the program has made great strides and has helped many individuals and organizations. Codifying a State Office of Financial Empowerment, housed within DHSS, will ensure the sustainability of the Stand By Me program and other financial empowerment programs.