07-R404

2007 -- H 6561

Enacted 07/07/07

J O I N T R E S O L U T I O N

ESTABLISHING THE FAMILY INCOME AND ASSET-BUILDING COMMISSION

Introduced By: Representatives Diaz, Almeida, Dennigan, Slater, and Church

Date Introduced: June 20, 2007

     WHEREAS, At least one out of three children in Rhode Island live in families that do not

have sufficient income to meet basic needs; and

     WHEREAS, Assisting the parents of these children to increase their income by gaining

the skills to obtain and retain better-paying jobs, and to access work-related employer and public

benefits that supplement wages are crucial to children’s well-being; and

     WHEREAS, Nationally, two out of five children are being raised in asset-poor

households; and

     WHEREAS, Having assets such as savings and home equity contribute to families’

financial security by enabling families to weather financial crises, invest in their children and plan

for retirement; and

     WHEREAS, Improving the financial literacy of parents and providing access to

traditional financial institutions can help families gain and sustain assets; now, therefore be it

     RESOLVED, That it is necessary and appropriate to conduct a comprehensive review of

state policies and initiatives and private programs to help families increase income through

employment, and a comprehensive review of state policies and initiatives and private programs to

help families build assets, and to make recommendations for state laws, policies and programs

that alone or in combination with activities in the private sector will help families increase

income and build assets; and be it further

     RESOLVED, That a special legislative commission be and the same is hereby created

consisting of eight (8) members; four (4) of whom shall be members of the House of

Representatives, not more than three (3) from the same political party, to be appointed by the

Speaker; four (4) of whom shall be members of the Senate, not more than three (3) from the same

political party, to be appointed by the Senate President.

     In lieu of any appointment of a member of the legislature to a permanent advisory

commission, a legislative study commission, or any commission created by a general assembly

resolution, the appointing authority may appoint a member of the general public to serve in lieu

of a legislator, provided that the majority leader or the minority leader of the political party which

is entitled to the appointment consents to the appointment of the member of the general public.

     The purpose of said Commission shall be to:

     Conduct a comprehensive review of:

     Activities of the state agencies to promote increased income through

employment for lower-skilled parents,

     State public benefit policies that support working families,

     Activities of private sector agencies to promote increased income through

employment for lower-skilled parents,

     Activities of state agencies to promote financial literacy and counseling and

asset building for families,

     State laws and policies that protect families from predatory and abusive

financial services, and

     Activities of private sector agencies to promote financial literacy and

counseling and asset building for families;

     Identify, develop and implement strategies, programs and legislation to:

     Build income and assets for families,

     Promote financial education, literacy and counseling,

     Protect families from predatory and abusive financial services; and

     3) Work with charitable foundations, local government, community based organizations,

policy and research organizations, advocacy organizations and other entities as may be

appropriate to advance the financial security and viability of families.

      Forthwith upon passage of this resolution, the members of the commission shall meet at

the call of the Speaker of the House and the Senate President and organize and shall select from

among the legislators a chairperson. Vacancies in said commission shall be filed in like manner

as the original appointment.

      The membership of said commission shall receive no compensation for their services.

      All departments and agencies of the state shall furnish such advice and information,

documentary and otherwise, to said commission and its agents as is deemed necessary or

desirable by the commission to facilitate the purposes of this resolution.

      The Joint Committee on Legislative Services is hereby authorized and directed to provide

suitable quarters for said commission; and be it further

     RESOLVED, That the commission shall report its findings and recommendations to the

General Assembly on or before January 30, 2008 and said commission shall expire on March 30,

2008.

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LC03406

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