Int. No. 1083
By Council Members Hudson, Williams and Narcisse
A Local Law to amend the administrative code of the city of New York, in relation to designating financial literacy advisors to serve in older adult centers
Be it enacted by the Council as follows:
Section 1. Chapter 2 of title 21 of the administrative code of the city of New York is amended by adding a new section 21-220 to read as follows:
§ 21-220 Financial literacy advisors at older adult centers. a. Definitions. As used in this section, the following terms have the following meanings:
End of life preparation. The term “end of life preparation” means information regarding legal or financial considerations relevant to end of life, including, but not limited to, the appointment of an agent to control the disposition of remains; health care proxies; last will and testament preparation; letters of competency; letters of intent; living will and living trust preparation; orders for life-sustaining treatment; and power-of-attorney designations.
Financial literacy. The term “financial literacy” means financial planning, budgeting, credit management, reducing debt, and saving.
Financial literacy advisor. The term “financial literacy advisor” means staff of the department, or of an operator of an older adult center pursuant to a contract with the department, assigned to provide information and counseling to older adults concerning financial literacy, end of life preparation, tax preparation, and legal issues and scams that commonly affect older adults.
b. Designation. The commissioner shall designate at least 1 financial literacy advisor to serve in each older adult center for at least 20 hours per month.
c. Qualifications. The commissioner shall promulgate rules establishing the necessary qualifications to serve as a financial literacy advisor in an older adult center.
d. Training. The commissioner shall establish a training program for financial literacy advisors serving in an older adult center.
e. Information to be provided. A financial literacy advisor shall provide the following information, at minimum, in older adult centers:
1. General information about financial literacy, end of life preparation, tax preparation, and how to avoid or handle legal issues and scams that commonly affect older adults; and
2. Contact information for:
(a) Financial literacy providers that offer further individualized counseling to older adults;
(b) Legal services providers that advise older adults on end of life preparation;
(c) Tax preparation providers;
(d) Legal services providers that advise older adults on how to avoid or handle legal issues and scams that commonly affect older adults;
(e) Agencies and organizations deemed relevant by the commissioner that can provide additional information concerning financial literacy, end of life preparation, tax preparation, and how to avoid or handle legal issues and scams that commonly affect older adults; and
(f) The department, for the purpose of answering questions concerning the services of financial literacy advisors in older adult centers and any other financial literacy resources offered by the department.
§ 2. This local law takes effect 120 days after it becomes law.
CMB
LS #18157
9/9/2026 9:50 AM