FINANCIAL EMPOWERMENT
Sponsored By: Debbie Meyers-Martin (Democratic)
In Committee
Summary
Creates the Financial Empowerment Commission Act. Provides for the establishment of the Financial Empowerment Commission. Provides that the Commission shall support the Board of Higher Education and organizations that provide financial educational programming through various capacity building initiatives. Provides that the Commission, in consultation with the Governor and appropriate State agencies, shall design a database platform to communicate with and connect existing financial literacy resources, programs, products and services in the State. Provides that the Commission shall identify, document, and track key metrics for young adults' financial health and well-being over time. Further provides that the Commission shall submit an annual report to the General Assembly, which shall detail the progress of financial empowerment efforts and the Commission's achievement of its main objectives. Provides that the Commission may collaborate with State and federal agencies, local governments, research and educational institutions, community and nonprofit organizations, financial institutions, the 3 main credit bureaus, service providers, and philanthropic organizations to ensure a coordinated, comprehensive approach with equitable access to resources and programming. Provides that the Commission may issue advisory material to stakeholders across Illinois to ensure monitoring, compliance, and adherence to consumer protection standards and may issue a supplementary report to the Governor and associated State agencies on best practices concerning consumer protections. Provides that the Commission may make policy recommendations to the General Assembly to enhance Illinois students' financial literacy and use of new and existing resources and may recommend that education programs be supported by economic policies dismantling structural issues, such as income disparities and financial barriers to health care.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Debbie Meyers-Martin
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAssigned to State Government Administration Committee
3/12/2026HouseReferred to Rules Committee
1/14/2026HouseFirst Reading
1/14/2026HouseFiled with the Clerk by Rep. Debbie Meyers-Martin
1/13/2026House
Bill Text
Introduced
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