HB 3131

Abstract

Creates the Equity through Financial Literacy Task Force Act. Creates the Equity through Financial Literacy Task Force. Provides for membership of the Task Force. Provides that no less than one-third of the members of the Task Force shall reside in areas outside of the Chicago metropolitan area. Provides that members of the Task Force shall serve without compensation, except that the young adult and college student appointees of the Task Force shall receive a stipend for serving as members. Provides for meetings of the Task Force. Provides that the Office of the Governor shall provide administrative and other support to the Task Force. Provides for duties of the Task Force. Requires the Task Force to submit a report of recommendations to the General Assembly and Governor on or before December 31, 2021. Provides for the content of the report. Provides purpose and legislative intent provisions. Repeals the Act on January 1, 2023. Effective immediately. House Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Adds to the membership of the Equity through Financial Literacy Task Force. Provides that the Task Force shall hold its first meeting within 90 days (rather than 60 days) after the effective date of the Act. Requires the Task Force to submit a report of recommendations to the General Assembly and Governor on or before December 31, 2022 (rather than 2021). Makes conforming changes. Effective immediately.