This bill aims to eliminate administrative fees associated with consumer checking accounts and debit cards for individuals released from incarceration. It amends existing law to ensure that no fees—such as account maintenance, transaction, or cash withdrawal fees—can be charged for accounts established for inmates by the Department of Corrections (DOC) within 30 days of their release. Additionally, the bill stipulates that any remaining balance in an inmate's account at the time of release must be transferred to the newly established checking account or, if the inmate opts not to open an account, disbursed in cash via a debit card without any fees.

Furthermore, the bill updates definitions related to debit cards and allows the DOC to enter into agreements with financial institutions to provide these banking services at no cost to the inmate. It also ensures that the State Board can prescribe the amount of money to be given to individuals upon parole or discharge, in accordance with the provisions of this bill. Overall, the legislation seeks to facilitate a smoother transition for released individuals by removing financial barriers associated with accessing their funds.

Statutes affected:
Introduced: 30:4-91.16, 30:8-55