[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4735 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 4735

To amend the Older Americans Act of 1965 to provide financial planning 
   services related to the needs of family caregivers, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 23, 2024

 Mr. Markey (for himself and Mr. Casey) introduced the following bill; 
     which was read twice and referred to the Committee on Health, 
                     Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
To amend the Older Americans Act of 1965 to provide financial planning 
   services related to the needs of family caregivers, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Services Improving Noble 
and Necessary Caregiving Experience Act'' or the ``FINANCE Act''.

SEC. 2. FINANCIAL PLANNING SERVICES.

    Title IV of the Older Americans Act of 1965 is amended by inserting 
after section 414 (42 U.S.C. 3032c) the following:

``SEC. 415. FINANCIAL PLANNING SERVICES.

    ``(a) Definitions.--In this section:
            ``(1) The term `family caregiver'--
                    ``(A) means--
                            ``(i) an adult family member, or another 
                        individual, who is an informal provider of in-
                        home and community care to an older individual 
                        or to an individual of any age with Alzheimer's 
                        disease or a related disorder with neurological 
                        and organic brain dysfunction; or
                            ``(ii) an older relative caregiver; and
                    ``(B) does not include an individual providing care 
                whose primary relationship with the individual 
                receiving the care is based on a financial or 
                professional agreement.
            ``(2) The term `older relative caregiver' means a caregiver 
        who--
                    ``(A)(i) is age 55 or older; and
                    ``(ii) lives with, is the informal provider of in-
                home and community care to, and is the primary 
                caregiver for, a child or an individual with a 
                disability;
                    ``(B) in the case of a caregiver for a child--
                            ``(i) is the grandparent, stepgrandparent, 
                        or other relative (other than the parent) by 
                        blood, marriage, or adoption, of the child;
                            ``(ii) is the primary caregiver of the 
                        child because the biological or adoptive 
                        parents are unable or unwilling to serve as the 
                        primary caregivers of the child; and
                            ``(iii) has a legal relationship to the 
                        child, such as legal custody, adoption, or 
                        guardianship, or is raising the child 
                        informally; and
                    ``(C) in the case of a caregiver for an individual 
                with a disability, is the parent, grandparent, or other 
                relative by blood, marriage, or adoption, of the 
                individual with a disability.
    ``(b) Grants.--The Assistant Secretary may make grants to eligible 
entities to provide financial planning services related to the needs of 
family caregivers.
    ``(c) Eligible Entity.--To be eligible to receive a grant under 
subsection (b), an entity shall be a State or local government agency, 
a nonprofit organization, an area agency on aging, the provider of a 
multipurpose senior center, an institution of higher education, or a 
tribal organization.
    ``(d) Application.--To be eligible to receive a grant under 
subsection (b), an entity shall submit an application to the Assistant 
Secretary at such time, in such manner, and containing such information 
as the Assistant Secretary may require.
    ``(e) Use of Funds.--An eligible entity that receives a grant under 
subsection (b) shall use the grant funds--
            ``(1) to provide financial planning services, through 
        individuals with the appropriate training and licenses, that 
        include--
                    ``(A) guidance on available public benefits;
                    ``(B) guidance on care options, including on 
                supports for paid and unpaid family caregivers;
                    ``(C) information on budgeting, saving, and 
                spending;
                    ``(D) information on how and when to begin talking 
                about desires and wishes around care as an individual 
                ages;
                    ``(E) guidance on managing debt, debt relief, and 
                bankruptcy;
                    ``(F) information and education on what long-term 
                care will cost;
                    ``(G) resources and information, including outreach 
                materials, technical assistance materials, and other 
                resources and information available through the center 
                referred to in section 215(k); and
                    ``(H) referrals to providers of legal assistance 
                under title III or VII, for legal assistance on topics 
                including estate planning, power of attorney, health 
                care powers, and wills; and
            ``(2) to provide those services in a manner that is 
        accessible, as appropriate for the recipient, including 
        providing the services--
                    ``(A) through assistive technology;
                    ``(B) in accessible language;
                    ``(C) for caregivers for whom English is not their 
                primary language, through translation or interpretation 
                services; and
                    ``(D) for caregivers, in accessible formats, 
                including formats compatible with American Sign 
                Language and multiple languages.''.
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