To amend the Older Americans Act of 1965 to provide financial planning services related to the needs of family caregivers, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill creates a new federal grant program to help family caregivers get financial planning advice. It amends the Older Americans Act of 1965 to authorize the Assistant Secretary for Aging to award grants to organizations that will provide services like budgeting guidance, information about public benefits, debt management help, long-term care cost education, and legal assistance referrals.
Who Benefits and How
Family caregivers (especially grandparents raising grandchildren and adults caring for aging relatives) benefit by gaining access to free financial planning services. Nonprofit organizations, area agencies on aging, senior centers, and educational institutions benefit from new grant funding opportunities to expand their services. Financial planners and legal assistance providers may see increased demand for their services.
Who Bears the Burden and How
Federal taxpayers bear the cost of funding the new grant program. The Administration for Community Living takes on additional administrative responsibilities for managing grant applications and oversight. There are no direct regulatory burdens imposed on private businesses or individuals.
Key Provisions
- Creates Section 415 of the Older Americans Act establishing a grant program for financial planning services to family caregivers
- Defines 'family caregiver' to include informal caregivers of older adults, Alzheimer's patients, and 'older relative caregivers' (those 55+ caring for children or individuals with disabilities)
- Requires services to be accessible through assistive technology, translation services, and multiple formats including ASL
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Establishes a federal grant program to provide financial planning services to family caregivers of older adults and individuals with disabilities through amendments to the Older Americans Act of 1965.
Key Policy Areas
Aging Services, Social Services, Healthcare, Financial Services
Primary Purpose
Establishes a federal grant program to provide financial planning services to family caregivers of older adults and individuals with disabilities through amendments to the Older Americans Act of 1965.
Policy Domains
FINANCE Act - Financial Planning Services for Family Caregivers
Identified Gains
Contextual inference, no direct clause citation- Family caregivers of older adults
- Grandparents raising grandchildren
- Nonprofit aging services organizations
- Area agencies on aging
- Senior centers
- Financial planning professionals
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- Federal taxpayers
- Administration for Community Living (administrative burden)
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
IntroducedMr. Markey (for himself, Ms. Klobuchar, Mrs. Gillibrand, and Mr. …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Area agencies on aging, Multipurpose senior centers, Nonprofit organizations serving caregivers
Family caregivers of older adults and Alzheimers patients, Grandparents and relatives raising grandchildren (older relative caregivers), Older relative caregivers (55+ caring for children/disabled)
Higher education institutions with aging/social work programs, Institutions of higher education
Legal assistance providers (estate planning, wills)
State and local government aging services agencies
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_assistant_secretary"
- → Assistant Secretary for Aging (Administration for Community Living)
Key Definitions
Terms defined in this bill
An adult family member or other individual who is an informal provider of in-home and community care to an older individual or to an individual with Alzheimers disease or related neurological disorder, or an older relative caregiver. Excludes individuals whose primary relationship is based on a financial or professional agreement.
A caregiver who is age 55 or older, lives with and is the primary caregiver for a child or individual with a disability, and in the case of a child is a grandparent, stepgrandparent, or other non-parent relative raising the child because parents are unable or unwilling.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology