Creation Of Financial Empowerment Office
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SB 21-148 — Creation Of Financial Empowerment Office
Last action — Governor Signed
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced March 01, 2021. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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4 sponsors
4 primary, 0 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (2 D).
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Cleared a recorded vote
Passed 2 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
The act creates the financial empowerment office (office) and the director of the office (director) in the department of law to grow the financial resilience and well-being of Coloradans through specified community-derived goals and strategies. The director is appointed by the attorney general and may hire staff as necessary to perform the duties and functions of the office. The office also consists of a manager who is appointed by the director.The office is authorized to partner with governmental bodies, community organizations, financial institutions, local service providers, philanthropic organizations, and other organizations as necessary to achieve the purposes of the office. The office is also authorized to develop or promote new or existing:Methods to increase access to safe and affordable financial products; Tools and resources that advance, increase, and improve Colorado residents' financial management; Community-informed strategies that dismantle systemic barriers to building ownership and wealth for all, especially low-income communities and communities of color; and Tools that promote financial stability such as those that assist with service navigation, eviction avoidance, or connections to income supports. The financial empowerment office is required to:Support the organization of community efforts to define and lead financial resilience strategies; Align, support, and build ties to build financial education and well-being in communities across the state; Establish a council to assist the director; Work with stakeholders to increase access to safe and affordable credit-building loans and financial products and to identify products and practices that may undermine financial stability; Develop technical assistance to launch or expand local financial coaching and counseling efforts; Raise money to support coaching, safe and affordable banking, and potential loan funds; and Track community feedback on consumer financial abuses. The department of law is required to report on affordable banking access in Colorado and other specified information as part of its presentation under the "State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act".(Note: This summary applies to this bill as enacted.)
Bill Text
What changed in the latest version
262 added · 194 removedPlain-language change summary
The recent changes to SB 21-148 establish the Financial Empowerment Office within the Colorado Department of Law, which aims to enhance financial literacy and provide resources for residents. The bill's language was streamlined by removing unnecessary procedural notes about approval by legislative officers and the Governor. This simplification helps clarify the bill's focus on empowering residents financially, making it easier for the public to understand its intentions and significance. Overall, this office is expected to provide vital support and education to improve financial well-being in Colorado.
First Regular Session Seventy-third General Assembly STATE OF COLORADO ENGROSSEDREENGROSSED This Version Includes All Amendments Adopted on Second Reading in the House of Introduction LLS NO.
21-0578.01 Ed DeCecco x4216 SENATE BILL 21-148 SENATE SPONSORSHIP Gonzales and Kolker, Bridges, Buckner, Danielson, Donovan, Fenberg, Garcia, Ginal, Hansen, Jaquez Lewis, Lee, Moreno, Pettersen, Story, Winter, Zenzinger HOUSE SPONSORSHIP Esgar and Tipper, Senate Committees House Committees Finance Appropriations A BILL FOR AN ACT CONCERNINGC ONCERNING THE CREATION OF THE FINANCIAL EMPOWERMENT OFFICE IN THE DEPARTMENT OF LAW ,,AND AND , IN CONNECTION THEREWITH ,MAKING, MAKING AN APPROPRIATION .
Bill Summary d (Note:
This summary applies to this bill as introduced and does d notreflectanyamendmentsthatmaybesubsequentlyadopted.Ifthisbill e 1 E a 0 passes third reading in the house of introduction, a bill summary that A U , applies to the reengrossed version of this bill will be available at N i 5 S a a http://leg.colorado.gov.) R M r Thebillcreatesthefinancialempowermentoffice(office)andthe director of the office (director) in the department of law to grow the financial resilience and well-being of Coloradans through specified gi community-derivedgoalsandstrategies.Thedirectorisappointedbythe da eattorneygeneralandmayhirestaffasnecessarytoperformthedutiesand 1E attorneygeneralandmayhirestaffasnecessarytoperformthedutiesandR 2 T Rd 02 AN n2 ,4 Shading denotes HOUSE amendment.
ES de ya Capital letters or bold & italic numbers indicate new material to be added to existing statune.M Dashes through the words indicate deletions from existing statute.
Dashes through the words indicate deletions from existing statute.
View plain text versions (9)
- Engrossed Reengrossed (05/05/2021) pdf
- Engrossed Engrossed (05/04/2021) Current pdf
- Signed Act (06/24/2021) View text pdf
- Final Act (06/10/2021) View text pdf
- Rerevised (05/28/2021) View text pdf
- Revised (05/25/2021) View text pdf
- PA2 (04/30/2021) View text pdf
- PA1 (03/23/2021) View text pdf
- Introduced Introduced (03/01/2021) pdf
Amendments
1 amendmentClick Show changes on an amendment above to see how it modifies the bill.
Action History
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Governor Signed
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Signed by the Speaker of the House
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Signed by the President of the Senate
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Sent to the Governor
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House Third Reading Passed - No Amendments
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House Third Reading Laid Over Daily - No Amendments
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House Third Reading Laid Over Daily - No Amendments
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House Second Reading Special Order - Passed - No Amendments
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House Committee on Appropriations Refer Unamended to House Committee of the Whole
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House Committee on State, Civic, Military, & Veterans Affairs Refer Unamended to Appropriations
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Senate Third Reading Passed - No Amendments
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Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs
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Senate Second Reading Passed with Amendments - Committee
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Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
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Senate Committee on Finance Refer Amended to Appropriations
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Introduced In Senate - Assigned to Finance
Sponsors
- Julie Gonzales · Primary
- Chris Kolker · Primary
- Daneya Esgar · Primary
- Kerry Tipper · Primary
Sponsorship breakdown
Export CSV (upgrade) →4 sponsors · 0 co-sponsors · 98 not signed on · 12 voted No
Sponsors (4)
- Julie Gonzales Democrat
- Chris Kolker Democrat
- Daneya Esgar
- Kerry Tipper
Co-sponsors (0)
None.
Not signed on (98)
98 members have not signed on to this bill.
Show all 98 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 0 | 7 | 0 | 1 |
| Democrat | 22 | 0 | 0 | 1 |
| Unaffiliated | 18 | 15 | 0 | 1 |
| Total | 40 | 22 | 0 | 3 |
| % of votes cast | 62% | 34% | 0% | 5% |
How each member voted (65)
| Member | Party | Vote |
|---|---|---|
| Bernett | — | Yea |
| Bird | — | Yea |
| Bockenfeld | — | Nay |
| Caraveo | — | Yea |
| Carver | — | Nay |
| Esgar | — | Yea |
| Geitner | — | Nay |
| Gonzales-Gutierrez | — | Yea |
| Gray | — | Yea |
| Hanks | — | Nay |
| Herod | — | Yea |
| Holtorf | — | Nay |
| Hooton | — | Yea |
| Larson | — | Nay |
| Lontine | — | Yea |
| Lynch | — | Nay |
| McKean | — | Nay |
| McLachlan | — | Yea |
| Neville | — | Nay |
| Ortiz | — | Yea |
| Pico | — | Nay |
| Ransom | — | Nay |
| Tipper | — | Yea |
| Will | — | Nay |
| Young | — | Yea |
| Garnett | — | Yea |
| Sandridge | — | Nay |
| Adrienne Benavidez | — | Yea |
| Michaelson Jenet | — | Yea |
| Valdez D. | — | Yea |
| Van Beber | — | Nay |
| Van Winkle | — | Nay |
| Williams D. | — | Not Voting |
| deGruy Kennedy | — | Yea |
| Alex Valdez | Democrat | Yea |
| Andrew Boesenecker | Democrat | Yea |
| Brianna Titone | Democrat | Yea |
| Cathy Kipp | Democrat | Yea |
| Dylan Roberts | Democrat | Yea |
| Emily Sirota | Democrat | Yea |
| Iman Jodeh | Democrat | Yea |
| Jamie Jackson | Democrat | Not Voting |
| Jennifer Bacon | Democrat | Yea |
| Judy Amabile | Democrat | Yea |
| Julie McCluskie | Democrat | Yea |
| Karen McCormick | Democrat | Yea |
| Kyle Mullica | Democrat | Yea |
| Lindsey Daugherty | Democrat | Yea |
| Lisa Cutter | Democrat | Yea |
| Marc Snyder | Democrat | Yea |
| Meg Froelich | Democrat | Yea |
| Mike Weissman | Democrat | Yea |
| Monica Duran | Democrat | Yea |
| Naquetta Ricks | Democrat | Yea |
| Steven Woodrow | Democrat | Yea |
| Tom Sullivan | Democrat | Yea |
| Tony Exum | Democrat | Yea |
| Dan Woog | Republican | Nay |
| Janice Rich | Republican | Nay |
| Marc Catlin | Republican | Nay |
| Mark Baisley | Republican | Not Voting |
| Mary Bradfield | Republican | Nay |
| Matt Soper | Republican | Nay |
| Rod Pelton | Republican | Nay |
| Stephanie Luck | Republican | Nay |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 8 | 0 | 0 | 0 |
| Unaffiliated | 12 | 10 | 0 | 1 |
| Republican | 1 | 3 | 0 | 0 |
| Total | 21 | 13 | 0 | 1 |
| % of votes cast | 60% | 37% | 0% | 3% |
How each member voted (35)
| Member | Party | Vote |
|---|---|---|
| Buckner | — | Yea |
| Cooke | — | Nay |
| Coram | — | Nay |
| Donovan | — | Yea |
| Fenberg | — | Yea |
| Fields | — | Yea |
| Gardner | — | Nay |
| Ginal | — | Yea |
| Hansen | — | Yea |
| Hisey | — | Nay |
| Holbert | — | Nay |
| Lee | — | Yea |
| Lundeen | — | Nay |
| Moreno | — | Yea |
| Pettersen | — | Yea |
| Priola | — | Yea |
| Rankin | — | Nay |
| Scott | — | Nay |
| Smallwood | — | Not Voting |
| Sonnenberg | — | Nay |
| Woodward | — | Nay |
| Zenzinger | — | Yea |
| Jaquez Lewis | — | Yea |
| Chris Kolker | Democrat | Yea |
| James Coleman | Democrat | Yea |
| Jeff Bridges | Democrat | Yea |
| Jessie Danielson | Democrat | Yea |
| Julie Gonzales | Democrat | Yea |
| Lorena Garcia | Democrat | Yea |
| Robert Rodriguez | Democrat | Yea |
| Tammy Story | Democrat | Yea |
| Barbara Kirkmeyer | Republican | Nay |
| Cleave Simpson | Republican | Nay |
| Larry Liston | Republican | Nay |
| Ty Winter | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 21-148 do?
- The act creates the financial empowerment office (office) and the director of the office (director) in the department of law to grow the financial resilience and well-being of Coloradans through specified community-derived goals and strategies. The director is appointed by the attorney general and may hire staff as necessary to perform the duties and functions of the office. The office also consists of a manager who is appointed by the director.The office is authorized to partner with governmental bodies, community organizations, financial institutions, local service providers, philanthropic organizations, and other organizations as necessary to achieve the purposes of the office. The office is also authorized to develop or promote new or existing:Methods to increase access to safe and affordable financial products; Tools and resources that advance, increase, and improve Colorado residents' financial management; Community-informed strategies that dismantle systemic barriers to building ownership and wealth for all, especially low-income communities and communities of color; and Tools that promote financial stability such as those that assist with service navigation, eviction avoidance, or connections to income supports. The financial empowerment office is required to:Support the organization of community efforts to define and lead financial resilience strategies; Align, support, and build ties to build financial education and well-being in communities across the state; Establish a council to assist the director; Work with stakeholders to increase access to safe and affordable credit-building loans and financial products and to identify products and practices that may undermine financial stability; Develop technical assistance to launch or expand local financial coaching and counseling efforts; Raise money to support coaching, safe and affordable banking, and potential loan funds; and Track community feedback on consumer financial abuses. The department of law is required to report on affordable banking access in Colorado and other specified information as part of its presentation under the "State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act".(Note: This summary applies to this bill as enacted.)
- Who sponsors SB 21-148?
- SB 21-148 is sponsored by Julie Gonzales (Democrat), Chris Kolker (Democrat), Daneya Esgar, and Kerry Tipper.
- What is the current status of SB 21-148?
- This bill has been enacted into law. Introduced March 01, 2021. Enacted.
- Where can I track SB 21-148?
- Track SB 21-148 free on One Click Politics — get push/email alerts when it moves.
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