Summary of Original Version

Create a new section of KRS Chapter 605 to establish requirements that the Cabinet for Health and Family Services shall determine for all children in the care and custody of the cabinet whether each child is receiving or eligible for earned federal benefits administered by the United States Social Security Administration or the United States Department of Veterans Affairs, including survivor or dependent benefits; require the cabinet to establish a program to be called the Success Sequence Savings and Disbursement Plan; require the promulgation of administrative regulations to implement the new requirements.

Summary of Amendment: House Committee Substitute 1

Summary Retain original provisions, except delete authority for the Cabinet for Health and Family Services, when serving as a representative payee, to use the child's earned benefits for unmet needs of the child that are beyond those the cabinet is obligated or agrees to pay; specify that before a child can access a portion of conserved benefits, the child shall complete a cabinet-approved financial literacy or savings readiness program.