Bill Text: HI SB702 | 2024 | Regular Session | Introduced
Bill Title: Relating To Education.
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: (Introduced) 2023-12-11 - Carried over to 2024 Regular Session. [SB702 Detail]
Download: Hawaii-2024-SB702-Introduced.html
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THE SENATE |
S.B. NO. |
702 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to education.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
The legislature also finds that a lack of financial literacy poses a significant barrier for individuals seeking to achieve financial prosperity and stability. Personal financial education is essential to ensure that Hawaii's youth are prepared to manage money, credit, and debt and to become responsible workers, heads of households, investors, entrepreneurs, business leaders, and citizens.
The legislature further finds that it is of the utmost importance to educate Hawaii's youth in economic and financial matters to prepare them for financial independence through the development of fiscal responsibility and financial management skills.
Therefore, the purpose of this Act is to require the department of education to include the teaching of financial literacy for grades kindergarten through twelve.
SECTION 2. Chapter 302A, Hawaii Revised Statutes, is amended by adding a new section to part II, subpart B, to be appropriately designated and to read as follows:
"§302A- Financial literacy; curricula plan; public
schools. (a) The department shall develop and implement a
statewide financial literacy curricula plan for public school students in
kindergarten through twelfth grade.
(b) Beginning with the 2024-2025 school year,
instruction shall be provided in financial literacy in all public schools for
students in grades kindergarten through eight.
The curriculum shall include but is not limited to:
(1) The true cost of credit;
(2) Choosing and managing a credit card;
(3) Borrowing money for an automobile or
other large purchase;
(4) Home mortgages;
(5) Credit scoring and credit reports;
and
(6) Other relevant financial literacy
issues.
The
department shall review and determine into which courses and grade levels personal
financial literacy shall be integrated.
(c) Beginning with the 2024-2025 school year,
instruction shall be provided in financial literacy in all public schools for
students in grades nine through twelve. All
students in grades nine through twelve shall complete a one-half credit course
in financial literacy and a passing grade in the course shall be required for
graduation. The curriculum shall include,
at a minimum, standards established by the second edition of the Voluntary
National Content Standards in Economics and the 2013 Standards for Financial
Literacy, as developed by the council for economic education. The financial literacy course shall provide
instruction on economic principles and shall provide personal financial
literacy instruction that shall include but not limited to the following:
(1) The true cost of credit;
(2) Choosing and managing a credit card;
(3) Borrowing money for an automobile or
other large purchase;
(4) Home mortgages;
(5) Credit scoring and credit reports;
(6) Planning and paying for
postsecondary education; and
(7) Other relevant financial literacy
issues.
The
department shall review and determine into which courses and grade levels personal
financial literacy shall be integrated.
(d) The board shall provide teachers with professional
development to teach financial literacy courses. The board shall determine a list of approved
courses and providers who offer professional development in financial literacy. Teachers shall complete financial literacy
professional development before teaching financial literacy courses in public
schools."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Department of Education; Financial Literacy; K-12 Coursework; Professional Development
Description:
Beginning with the 2024-2025 school year, requires the Department of Education to include the teaching of financial literacy in grades kindergarten through twelve. Requires students in grades nine through twelve to complete a one-half credit in financial literacy before graduation. Requires the Board of Education to provide professional development to teachers who are teaching financial literacy courses.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
