HB 950 — CONSUMERS/PROTECTION: Provides for consumer protection for the elderly (EN SEE FISC NOTE GF EX See Note)

HLSENROLLED 26RS-753 ENGROSSED Regular Session HOUSE BILL NO.

950 BY REPRESENTATIVEREPRESENTATIVES BOYDBOYD, CONSUMERS/PROTECTION:ADAMS, BAYHAM, BOUDREAUX, BRASS, CARPENTER, CARVER, CHASSION, FISHER, FREEMAN, DANA HENRY, JACKSON, LAFLEUR, LARVADAIN, LYONS, MENA, MOORE, MURRAY, NEWELL, TAYLOR, WALTERS, AND YOUNG AN ACT To enact R.S.

Provides for consumer protection for the elderly AN ACT To enact R.S.

(2) It is therefore the purpose of this Act to safeguard the financial security, dignity,andindependenceofthesecitizensbydevelopingcomprehensive,accessible educational materials and resources for seniors and their caregivers on the effective management of pensions and retirement income, clear explanations of financial Page 1 of 43 CODING:

HLS 26RS-753 ENGROSSED HB NO.

950 ENROLLED (2) It is therefore the purpose of this Act to safeguard the financial security, dignity,andindependenceofthesecitizensbydevelopingcomprehensive,accessible educational materials and resources for seniors and their caregivers on the effective management of pensions and retirement income, clear explanations of financial products commonly marketed to seniors, recognition and prevention of financial exploitation, strategies for mitigating risks of financial hardship, and clear explanations of financial products commonly marketed to seniors.

The office of elderlyaffairs maydistribute these materials in an easy-to- read format with simple navigation menus to seniors through existing websites or otheravailableplatforms.Theofficeofelderlyaffairsmaydistributeotheravailableplatforms.Theofficeofelderlyaffairsmaydistributethesematerials thesematerials by any other means reasonablycalculated to reach the seniors of this state.

E.(1) The office of elderly affairs shall implement the provisions of this Sectionto theextentpracticablewithinthe existingresources,andextent mayutilizepracticablewithin orlinkexistingresources,andmayutilizeorlink to existingfederal,nonprofit,orprivateexistingfederal,nonprofit, educationalor resourcestofulfillprivate educationalresourcestofulfill thepurposesof this Section.

(2)Page The2 provisions of this3 SectionCODING: shall be implemented subject to the availability of existing resources and shall not require additional appropriations.

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HLS 26RS-753 ENGROSSED HB NO.

950 DIGESTENROLLED ThedigestprintedbelowwaspreparedbyHouseLegislative(2) Services.The provisions of this Section shall be implemented subject to the availability of existing resources and shall not require additional appropriations.

ItSPEAKER constitutesOF nopartTHE ofHOUSE theOF legislativeREPRESENTATIVES instrument.PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

ThePage keyword,3 one-liner, abstract, and digest do not constitute part of the3 lawCODING: or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 950 Engrossed 2026 Regular Session Boyd Abstract:

Permits theofficeof elderlyaffairsto createanddistribute educationalmaterials for seniors, providing practical guidance and information about pension and retirement account protection, income optimization, information about financial products typically marketed to seniors, warning signs of financial exploitation, and contact information for relevant agencies, charities, and legal aid.

Proposed law provides for legislative findings and legislative intent.

Proposed law provides that the office of elderly affairs may create the Pension Protection and Retirement Income Support and Guidance program.

Proposedlawprovidesthattheprogrammayprovidepracticalguidanceandempowersenior citizens to make informed decisions on issues including but not limited to the following:

(1) Pension and retirement account protection.

(2) Income optimization and financial management.

(3) Information about financial products typically marketed to seniors.

(4) Strategies to reduce risks related to unexpected hardships or costs.

(5) Warning signs of scams, fraud, or exploitation targeting seniors, and prevention tactics.

(6) Contact information for state agencies, legal aid organizations, dedicated hotlines, or charities that can offer more detailed assistance if needed.

Proposed law provides that these materials maybe distributed in an easy-to-read format on an existing website or platform and that these materials may be distributed by any other means reasonably calculated to reach the seniors of this state.

Proposed law provides that the provisions of proposed law shall be implemented to the extent practicable within existing resources and shall not require additional appropriations, and may utilize existing federal, nonprofit, or private educational resources.

(Adds R.S.

46:939) Summary of Amendments Adopted by House The Committee Amendments Proposed by House Committee on Commerce to the original bill:

1.

Make technical changes.

2.

Change the proposed law from a mandate that the office of elderlyaffairs create the Pension Protection and Retirement Income Support and Guidanceprogram, develop relevant materials, and distribute these materials to seniors of this state Page 3 of 4 CODING:

Wordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored are additions.

HLS 26RS-753 ENGROSSED HB NO.

950 to permission to do so, within existing resources and without additional appropriation.

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