HM 103 — STUDY SERVICES FOR YOUTH IN FOSTER CARE

HOUSEA MEMORIAL 103REQUESTING 53RDTHE LEGISLATURESECRETARY -OF STATEOFNEWMEXICO-CHILDREN, SECONDYOUTH SESSIONAND ,FAMILIES 2018TO INTRODUCEDCONVENE BYA DeborahTASK A.FORCE TO STUDY AND RECOMMEND CONCRETE POLICY CHANGES THAT COULD BE IMPLEMENTED TO PROVIDE YOUTH IN FOSTER CARE ACCESS TO BANK ACCOUNTS AND TO PROVIDE YOUTH IN FOSTER CARE OR WHO ARE CURRENTLY RECEIVING VOLUNTARY SERVICES FROM THE CHILDREN, YOUTH AND FAMILIES DEPARTMENT FINANCIAL LITERACY AND MONEY MANAGEMENT EDUCATION.

ArmstrongWHEREAS, 6according 8to 10the Achildren, MEMORIALyouth REQUESTINGand THEfamilies CHILDREN'Sdepartment, COURTthere IMPROVEMENTare COMMISSIONcurrently TOmore CONVENEthan Afour TASKhundred FORCEyouth TOages STUDYfourteen ANDto RECOMMENDseventeen CONCRETEyears POLICYwho CHANGESare THATlikely COULDto BEtransition IMPLEMENTEDfrom TOfoster PROVIDEcare YOUTHand INmore FOSTERthan CAREfour ACCESShundred TOyouth BANKages ACCOUNTSeighteen ANDto TOtwenty-three PROVIDEyears YOUTHwho INare FOSTERcurrently CAREeligible ORto WHOreceive AREvoluntary CURRENTLYsupport RECEIVINGfrom VOLUNTARYthe SERVICESdepartment; FROM THE CHILDREN, YOUTH AND FAMILIES DEPARTMENT FINANCIAL LITERACY AND e t 17 MONEY MANAGEMENT EDUCATION.

wand l n d 18 = = 19 a l WHEREAS, accordingmany to the children, youth andin familiesfoster icare ado enot rhave 20opportunities department, there are currently more than four hundred youth a t m m 21 ages fourteen to seventeenearn, yearsspend who are likely to transition d r e 22 from foster care and moresave thantheir fourown hundredmoney youthwith agesadults eighteen c e s k 23 to twenty-threeguide yearsthem; who are currently eligible to receive e a n b 24 voluntary support from the department;

and u [ WHEREAS, many youth in foster care do not have .210424.1 opportunities to earn, spend and save their own money with adults to guide them;

and WHEREAS, financial capability and financial skills are HM 103 linked to success across many life domains, including Page 1 employment, education and housing;

and e e 17 WHEREAS, it is important for youth to have bank accounts, e e n d 18 and it is equally important for them to have support in = = l ] 19 understanding how to safely use the bank account;

and a l r i 20 WHEREAS, input from financial institutions, foster youth t e a t and entities serving foster youth will help identify barriers m m 21 e d r e 22 to banking and financial literacy and help to ensure that youth c e r c 23 in foster care and youth who recently aged out of foster care e a n b 24 have bank accounts and the tools and financial knowledge needed u [ to safely and responsibly use the bank accounts;

.210424.1 - 2 - NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that the children'ssecretary courtof improvementthe commissionchildren, youth and families be requested to convene a task force and invite to participate on the task force representatives of the children, youth and families department;

the children’s court improvement commission;

national banks doing business in HM 103 Page 2 the state;

and e e 17 BE IT FURTHER RESOLVED that the task force report its e e n d 18 findings and recommendations to the legislative health and = = l ] 19 human services committee no later than December 1, 2018;

and a l r i 20 BE IT FURTHER RESOLVED that copies of this memorial be t e a t transmitted to the co-chairssecretary of thechildren, children'syouth courtand mfamilies; m 21 e d r e 22 improvement commission;

the secretaryco-chairs of children,the youthchildren's andcourt cimprovement ecommission; r c 23 families;

the chair of the board of directors of the credit e a n b 24 union association of New Mexico;

the New Mexico bankers u [ association;

the director of New Mexico child advocacy .210424.1 - 3 - networks;

-HM 4103 -Page 53 725 9 11 13 15 e e 17 e e n d 18 = = l ] 19 a l r i 20 t e a t m m 21 e d r e 22 c e r c 23 e a n b 24 u [ .210424.1