Portions of the website are currently unavailable.
Legislature > LRL Home > Agencies > Results
Information on Minnesota State Agencies, Boards, Task Forces, and Commissions
Compiled by the Minnesota Legislative Reference Library
Asset Development and Financial Literacy Task Force
Function: Identify specific policies, strategies, and actions to reduce asset poverty and increase household financial security by improving opportunities for households to earn, learn, save, invest, and protect assets through expansion of such asset building opportunities as the Family Assets for Independence in Minnesota (FAIM) program and Earned Income Tax Credit (EITC) program.
Active dates:July 2012 - June 2014
In 2012, the Ladder Out of Poverty Task Force was renamed the Asset Development and Financial Literacy Task Force. The Ladder Out of Poverty Task Force was established in 2010 to carry out the recommendations of the Legislative Commission to End Poverty in Minnesota by 2020.
The 2012 legislation defined 'asset poverty' as "an individual's or family's inability to meet fixed financial obligations and other financial requirements of daily living with existing assets for a three-month period in the event of a disruption in income or extraordinary economic emergency."
The task force was charged with providing written recommendations and/or draft legislation during the 2013 and 2014 legislative sessions.
Task force expired June 1, 2014.
Four senators, including two members of the majority party and two members of the minority party, appointed by the Subcommittee on Committees of the Committee on Rules and Administration of the senate; four members of the House of Representatives, including two members of the majority party, appointed by the speaker of the house, and two members of the minority party, appointed by the minority leader; and the commissioner of the Minnesota Department of Commerce or the commissioner's designee
The Legislative Coordinating Commission provided administrative assistance.
Record last updated:
Additional print information on this group may be available in the
Library's collection of agency notebooks. Please contact a librarian for
assistance. The Minnesota Agencies database is a work in progress.