The bill establishes the financial literacy and exchange program (program) within the division of housing (division). The program allows the division to create FLEX accounts for certain people who sign FLEX agreements and participate in eligible housing assistance voucher programs.
The division is required to establish policies and procedures as necessary for the administration of the program and to annually report to the general assembly on the status of the program.
The bill also creates the continuously appropriated FLEX fund, which may be used for the direct and indirect costs of implementing the program.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)