Int 0054-2022

Be it enacted by the Council as follows: Section 1. Chapter 4 of title 21 of the administrative code of the city of New York is amended by adding a new section 21-415 to read as follows: � 21-415 Financial empowerment education in department programs. a. As used in this section, the following terms have the following meanings: Financial empowerment education. The term "financial empowerment education" means training that includes instruction on personal finances, including banking, budgeting, credit, debt, saving, investment, and taxes. Youth employment program. The term "youth employment program" means a department-funded program in which program participants are provided with employment or internships. b. The department shall ensure that its youth employment programs include at least 2 hours of financial empowerment education for all program participants. c. The department shall ensure that any entity that the department contracts with to provide a transitional independent living support program or a runaway and homeless youth crisis services program shall offer at least 2 hours of financial empowerment education to all program participants, and continue to offer financial empowerment services education to youth participating in programs for 6 months or longer. d. No later than January 31, 2024, and no later than 30 days after the end of each calendar year thereafter, the department shall post on its website and submit to the speaker of the council a report on how many program participants participated in financial empowerment education and a description of the relevant financial empowerment education curriculum provided to program participants. � 2. This local law takes effect 90 days after it becomes law. CY 6/14/23 4:34pm Session 12 NLB LS # 3651 12/28/21 Session 11 AM LS# 13141 2 2