WeVote
Log In

Bill

Bill

S 6110

Establishes the office of financial resilience

2025 Regular Session Introduced by Kevin Parker

Creates the Office of Financial Resilience to coordinate state agencies' resilience efforts and support households and small businesses facing disaster and climate risks.

REFERRED TO BANKS
0
WeVote Research Nonpartisan
Bill Summary · S 6110

Summary of Bill S 6110 – Establishes the Office of Financial Resilience

Basic information

  • Bill number: S 6110
  • Title: Establishes the office of financial resilience
  • Status: Referred to Banks (committee)
  • Introduced: March 5, 2025
  • Classification: bill
  • Related bills (prior-session): S 9156, S 5643, S 7207, S 5060

What the bill appears to do

  • Based on the title alone, the bill intends to establish an Office of Financial Resilience. The available materials do not include the full text, so the specific objectives, organizational placement, powers, duties, funding, and governance of the proposed office are not disclosed here.

Key provisions (not available in the provided text)

  • The exact provisions of the bill—such as:
    • Where the office would be housed (agency/department) and its leadership structure
    • Authorities and responsibilities (e.g., disaster and climate-related financial planning, consumer financial education, coordination with state agencies, data collection and reporting)
    • Funding sources, budgets, and staffing
    • Reporting requirements and accountability mechanisms
    • Sunset clauses, performance metrics, or evaluation timelines
  • Because the bill text has not been provided, the above are not confirmed and should be checked against the official bill language when released.

Who would be affected

  • Without the specific text, the precise beneficiaries and obligations are not stated. In general, an Office of Financial Resilience could affect:
    • Residents and households (e.g., financial planning resources, disaster recovery support)
    • Small businesses and nonprofit organizations
    • Financial institutions and service providers (cooperation on resilience initiatives)
    • State and local government agencies (interagency coordination and compliance)

Procedural and timeline aspects

  • Current step: The bill has been referred to the Banks committee, meaning it will undergo committee review, potential amendments, and a vote in the committee before advancing to the full chamber for consideration.
  • Next typical steps (general): If advanced, the bill would proceed to floor consideration, possible amendments, and votes in the Senate. If passed, it could move to the House (or the corresponding chamber) for consideration, and ultimately to the governor for signature or veto. Timelines vary by jurisdiction and legislative calendar.

Related context

  • The bill lists several related bills from prior sessions (S 9156, S 5643, S 7207, S 5060). These may share themes related to financial resilience or the creation of related offices or programs. Reviewing those texts could provide context on potential provisions or policy direction.

Note

  • The summary above is based solely on the bill’s title and the provided status. For a precise, comprehensive understanding, the exact bill text and fiscal notes (if any) should be reviewed once released by the legislative body. If you can share the text or link to the official bill, I can provide a detailed, provision-by-provision summary.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.