Financial empowerment education in department of youth and community development programs.

A Local Law to amend the administrative code of the city of New York, in relation to financial empowerment education in department of youth and community development programs

This bill would require the Department of Youth and Community Development (DYCD) to include financial literacy training as part of all youth employment programs and programs for runaway and homeless youth. Such training would include instruction on banking, budgeting, credit, debt, saving, and taxes. DYCD would be required to issue an annual report on how many participants received financial literacy training, the methods and manner in which the topics were covered and the amount of time spent covering such topics. The first report would be due on January 1, 2023.