H.B. 1715 Summary

• Appropriates $50,000 from general revenues for fiscal year 2014-2015 to the Department of Commerce and Consumer Affairs for investor education and financial education programs targeted to kupuna (Hawaiian elders).

• Recognizes that elderly citizens in Hawaii are frequently victimized by investment fraud, identity theft, and other financial scams, with unique challenges due to Hawaii's rapidly aging population and diverse cultural composition.

• Authorizes funding to support the existing investor education program within the Department of Commerce and Consumer Affairs, which provides free educational presentations and materials to help seniors make informed investment decisions and detect financial fraud.

• Takes effect on July 1, 2014.