SB 993 - This act gives the treasurer of St. Louis the authority to create the "Office of Financial Empowerment" which shall have the mission to educate the public about personal finances and small businesses about available support and access to banking resources.
The office shall have the authority to conduct research, provide educational programs and counseling, and may organize, administer, and deliver financial programs directly or through agents.
Additionally, the office shall have the authority to apply for and accept grants on behalf of the city, enter into service agreements with public and private entities, and enter into and execute sponsorship agreements relating to a financial empowerment fair. The act defines "sponsor" as a person who exchanges money or other goods or services to the city for advertising or promotional rights at such a fair.
This act provides that an annual appropriation will be made from the St. Louis parking meter fund to the budget of the Office of Financial Empowerment.
This act is identical to HB 2383 (2018).