<div class="xtend">
         <div class="xtend_ce"><a id="pl.1.1"></a><var>1.1</var>A bill for an act<br />
            		
         </div><a id="pl.1.2"></a><var>1.2</var>relating to poverty; establishing the Ladder Out of Poverty Task Force; providing <br />
         		<a id="pl.1.3"></a><var>1.3</var>for its membership and duties; providing legislative appointments.<br />
         		<a id="pl.1.4"></a><var>1.4</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br />
         		<br />
         		<a id="bill.0.1.0"></a><a id="pl.1.5"></a><var>1.5</var>&nbsp;&nbsp;&nbsp;&nbsp;Section 1. <b>LADDER OUT OF POVERTY TASK FORCE.</b><br />
         		<a id="pl.1.6"></a><var>1.6</var>&nbsp;&nbsp;&nbsp;&nbsp;Subdivision 1. <b>Purpose.</b> The final report of the Commission to End Poverty by <br />
         		<a id="pl.1.7"></a><var>1.7</var>2020 set forth the following strategies regarding the building and maintaining of  wealth <br />
         		<a id="pl.1.8"></a><var>1.8</var>and assets:<br />
         		<a id="pl.1.9"></a><var>1.9</var>(1) establish public policies to encourage Minnesotans to accumulate and maintain <br />
         		<a id="pl.1.10"></a><var>1.10</var>assets;<br />
         		<a id="pl.1.11"></a><var>1.11</var>(2) ban predatory financial practices that erode or deplete existing assets; and<br />
         		<a id="pl.1.12"></a><var>1.12</var>(3) increase financial literacy to reduce vulnerability to predatory practices and <br />
         		<a id="pl.1.13"></a><var>1.13</var>enhance the ability to acquire assets and build wealth, and achieve and maintain <br />
         		<a id="pl.1.14"></a><var>1.14</var>self-sufficiency.<br />
         		<a id="pl.1.15"></a><var>1.15</var>The purpose of the Ladder Out of Poverty Task Force ("the task force") created <br />
         		<a id="pl.1.16"></a><var>1.16</var>in this section is to implement and build on the strategies set forth by the Legislative <br />
         		<a id="pl.1.17"></a><var>1.17</var>Commission to End Poverty by 2020 to help poor and near-poor Minnesotans, including <br />
         		<a id="pl.1.18"></a><var>1.18</var>older women, who are among the poorest of Minnesotans, have accounted for a larger <br />
         		<a id="pl.1.19"></a><var>1.19</var>share of subprime loans, and are particularly vulnerable to predatory lending and financial <br />
         		<a id="pl.1.20"></a><var>1.20</var>hardship, to avert or escape poverty.<br />
         		<a id="pl.1.21"></a><var>1.21</var>Achieving this purpose will require strong collaboration and coordination among the <br />
         		<a id="pl.1.22"></a><var>1.22</var>public, private, nonprofit, academic, and philanthropic sectors.<br />
         		<a id="pl.1.23"></a><var>1.23</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 2. <b>Creation.</b> (a) The task force consists of the following members:<br />
         		<a id="pl.2.1"></a><var>2.1</var>(1) four senators, including two members of the majority party and two members of <br />
         		<a id="pl.2.2"></a><var>2.2</var>the minority party, appointed by the Subcommittee on Committees of the Committee on <br />
         		<a id="pl.2.3"></a><var>2.3</var>Rules and Administration of the senate;<br />
         		<a id="pl.2.4"></a><var>2.4</var>(2) four members of the house of representatives, including two members of the <br />
         		<a id="pl.2.5"></a><var>2.5</var>majority party, appointed by the speaker of the house, and two members of the minority <br />
         		<a id="pl.2.6"></a><var>2.6</var>party, appointed by the minority leader;<br />
         		<a id="pl.2.7"></a><var>2.7</var>(3) the commissioner of the Minnesota Department of Commerce or the <br />
         		<a id="pl.2.8"></a><var>2.8</var>commissioner's designee; and<br />
         		<a id="pl.2.9"></a><var>2.9</var>(4) the attorney general or the attorney general's designee.<br />
         		<a id="pl.2.10"></a><var>2.10</var>(b) The task force shall ensure that representatives of the following have the <br />
         		<a id="pl.2.11"></a><var>2.11</var>opportunity to meet with and present views to the task force: credit unions; independent <br />
         		<a id="pl.2.12"></a><var>2.12</var>community banks; state and federal financial institutions; community action agencies; <br />
         		<a id="pl.2.13"></a><var>2.13</var>faith-based financial counseling agencies; faith-based social justice organizations; <br />
         		<a id="pl.2.14"></a><var>2.14</var>legal services organizations representing low-income persons; nonprofit organizations <br />
         		<a id="pl.2.15"></a><var>2.15</var>providing free tax preparation services as part of the volunteer income tax assistance <br />
         		<a id="pl.2.16"></a><var>2.16</var>program; relevant state and local agencies; University of Minnesota faculty involved <br />
         		<a id="pl.2.17"></a><var>2.17</var>in personal and family financial education; philanthropic organizations that have as <br />
         		<a id="pl.2.18"></a><var>2.18</var>one of their missions  combating predatory lending; organizations representing older <br />
         		<a id="pl.2.19"></a><var>2.19</var>Minnesotans; and organizations representing the interests of women, Latinos and Latinas, <br />
         		<a id="pl.2.20"></a><var>2.20</var>African-Americans, Asian-Americans, American Indians, and immigrants.<br />
         		<a id="pl.2.21"></a><var>2.21</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 3. <b>Duties.</b> (a) At a minimum, the task force must identify specific policies, <br />
         		<a id="pl.2.22"></a><var>2.22</var>strategies, and actions to:<br />
         		<a id="pl.2.23"></a><var>2.23</var>(1) increase opportunities for poor and near-poor families and individuals to acquire <br />
         		<a id="pl.2.24"></a><var>2.24</var>assets and create and build wealth;<br />
         		<a id="pl.2.25"></a><var>2.25</var>(2) expand the utilization of Family Assets for Independence in Minnesota (FAIM) <br />
         		<a id="pl.2.26"></a><var>2.26</var>or other culturally specific individual development account programs;<br />
         		<a id="pl.2.27"></a><var>2.27</var>(3) reduce or eliminate predatory financial practices in Minnesota through regulatory <br />
         		<a id="pl.2.28"></a><var>2.28</var>actions, legislative enactments, and the development and deployment of alternative, <br />
         		<a id="pl.2.29"></a><var>2.29</var>nonpredatory financial products;<br />
         		<a id="pl.2.30"></a><var>2.30</var>(4) provide incentives or assistance to private sector financial institutions to <br />
         		<a id="pl.2.31"></a><var>2.31</var>offer additional programs and services that provide alternatives to and education about <br />
         		<a id="pl.2.32"></a><var>2.32</var>predatory financial products;<br />
         		<a id="pl.2.33"></a><var>2.33</var>(5) provide financial literacy information to low-income families and individuals at <br />
         		<a id="pl.2.34"></a><var>2.34</var>the time the recipient has the ability, opportunity, and motivation to receive, understand, <br />
         		<a id="pl.2.35"></a><var>2.35</var>and act on the information provided; and<br />
         		<a id="pl.3.1"></a><var>3.1</var>(6) identify incentives and mechanisms to increase community engagement in <br />
         		<a id="pl.3.2"></a><var>3.2</var>combating poverty and helping poor and near-poor families and individuals to acquire <br />
         		<a id="pl.3.3"></a><var>3.3</var>assets and create and build wealth.<br />
         		<a id="pl.3.4"></a><var>3.4</var>(b) By June 1, 2012, the task force must provide written recommendations and <br />
         		<a id="pl.3.5"></a><var>3.5</var>any draft legislation necessary to implement the recommendations to the chairs and <br />
         		<a id="pl.3.6"></a><var>3.6</var>ranking minority members of the legislative committees and divisions with jurisdiction <br />
         		<a id="pl.3.7"></a><var>3.7</var>over commerce and consumer protection.<br />
         		<a id="pl.3.8"></a><var>3.8</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 4. <b> Administrative provisions.</b> (a) The director of the Legislative <br />
         		<a id="pl.3.9"></a><var>3.9</var>Coordinating Commission, or a designee of the director, must convene the initial meeting <br />
         		<a id="pl.3.10"></a><var>3.10</var>of the task force by September 15, 2010. The members of the task force must elect a chair <br />
         		<a id="pl.3.11"></a><var>3.11</var>or cochairs from the legislative members at the initial meeting.<br />
         		<a id="pl.3.12"></a><var>3.12</var>(b) Members of the task force serve without compensation or payment of expenses <br />
         		<a id="pl.3.13"></a><var>3.13</var>from the task force.<br />
         		<a id="pl.3.14"></a><var>3.14</var>(c) The task force expires June 1, 2012, or upon the submission of the report required <br />
         		<a id="pl.3.15"></a><var>3.15</var>under subdivision 3, whichever is earlier.<br />
         		<a id="pl.3.16"></a><var>3.16</var>(d) The task force may accept gifts and grants, which are accepted on behalf of the <br />
         		<a id="pl.3.17"></a><var>3.17</var>state and constitute donations to the state. The funds must be deposited in an account in <br />
         		<a id="pl.3.18"></a><var>3.18</var>the special revenue fund and are appropriated to the Legislative Coordinating Committee <br />
         		<a id="pl.3.19"></a><var>3.19</var>for purposes of the task force.<br />
         		<a id="pl.3.20"></a><var>3.20</var>(e) The Legislative Coordinating Commission shall provide fiscal services to the <br />
         		<a id="pl.3.21"></a><var>3.21</var>task force as needed under this subdivision.<br />
         		<a id="pl.3.22"></a><var>3.22</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 5. <b>Deadline for appointments and designations.</b> The appointments and <br />
         		<a id="pl.3.23"></a><var>3.23</var>designations authorized under this section must be completed no later than August 15, <br />
         		<a id="pl.3.24"></a><var>3.24</var>2010.<br />
         		<a id="pl.3.25"></a><var>3.25</var><b>EFFECTIVE DATE.</b>This section is effective the day following final enactment.<br />
         		
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