NY A03421

Establishes a State Financial Literacy Commission to improve financial literacy and financial capability among New York residents.

Commission composed of 16+ members including the state comptroller, commissioner of education, legislative representatives, K-12 and higher education representatives, nonprofit organizations, and financial services industry representatives.

Empowers commission to collaborate with state agencies, incentivize financial literacy programs in schools and businesses, and inventory existing financial literacy initiatives across the state.

Commission shall advise state leadership on residents' financial literacy status, identify ways to help low-income residents access financial products and save, and recommend public and private sector actions to increase financial literacy.

Requires commission to issue annual reports to the governor and legislative committees on progress and recommendations during the first month of each legislative session; permits commission to raise and disburse funds from outside sources.