Repeal of the FLEX Program

Joint Budget Committee. In 2022, the general assembly created the financial literacy and exchange (FLEX) program. The FLEX program allows households participating in the state housing voucher program to open an escrow-like savings account. FLEX account holders receive a $200 monthly match and access to services such as financial mentoring, life skills training, and asset management. No households have been enrolled in the FLEX program due to the FLEX account administrators' inability to provide case management and other additional services without compensation. The bill transfers all the unexpended and unencumbered money in the FLEX fund to the general fund on June 30, 2025, and repeals the FLEX program on July 1, 2025.
(Note: This summary applies to this bill as introduced.)