Bill Text: IA HF458 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act requiring the offering and completion of a personal finance literacy curriculum for high school students.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-02-28 - Introduced, referred to Education. H.J. 476. [HF458 Detail]
Download: Iowa-2017-HF458-Introduced.html
House File 458 - Introduced HOUSE FILE BY JACOBY A BILL FOR 1 An Act requiring the offering and completion of a personal 2 finance literacy curriculum for high school students. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 2537YH (2) 87 je/rj PAG LIN 1 1 Section 1. Section 256.11, subsection 5, Code 2017, is 1 2 amended by adding the following new paragraph: 1 3 NEW PARAGRAPH. k. One=half unit of personal finance 1 4 literacy. All students shall complete at least one=half unit 1 5 of personal finance literacy as a condition of graduation. 1 6 The personal finance literacy curriculum shall prioritize 1 7 involvement of community financial management experts and 1 8 the parents or guardians of students. The curriculum shall 1 9 include, at a minimum, the following components: 1 10 (1) Providing an introduction to the financial planning 1 11 process. 1 12 (2) Explaining the relationship between career and work 1 13 factors and earning potential. 1 14 (3) Developing a personal spending and savings plan. 1 15 (4) Using and managing credit effectively. 1 16 (5) Describing risk management techniques and explaining 1 17 the importance of protecting assets. 1 18 (6) Explaining the importance of saving and investing 1 19 and the benefits of considering the time value of money when 1 20 preparing a savings plan. 1 21 (7) Completing a personal financial plan. 1 22 Sec. 2. STATE MANDATE FUNDING SPECIFIED. In accordance 1 23 with section 25B.2, subsection 3, the state cost of requiring 1 24 compliance with any state mandate included in this Act shall 1 25 be paid by a school district from state school foundation aid 1 26 received by the school district under section 257.16. This 1 27 specification of the payment of the state cost shall be deemed 1 28 to meet all of the state funding=related requirements of 1 29 section 25B.2, subsection 3, and no additional state funding 1 30 shall be necessary for the full implementation of this Act 1 31 by and enforcement of this Act against all affected school 1 32 districts. 1 33 EXPLANATION 1 34 The inclusion of this explanation does not constitute agreement with 1 35 the explanation's substance by the members of the general assembly. 2 1 This bill adds a one=half unit course in personal finance 2 2 literacy to the educational program each school district 2 3 and accredited nonpublic school is required to offer in 2 4 grades 9=12, and requires all students to take the course as 2 5 a condition of graduation. The personal finance literacy 2 6 curriculum must prioritize involvement of community financial 2 7 management experts and the parents or guardians of students. 2 8 The bill provides minimum components of the personal finance 2 9 literacy curriculum. 2 10 The bill may include a state mandate as defined in Code 2 11 section 25B.3. The bill requires that the state cost of 2 12 any state mandate included in the bill be paid by a school 2 13 district from state school foundation aid received by the 2 14 school district under Code section 257.16. The specification 2 15 is deemed to constitute state compliance with any state mandate 2 16 funding=related requirements of Code section 25B.2. The 2 17 inclusion of this specification is intended to reinstate the 2 18 requirement of political subdivisions to comply with any state 2 19 mandates included in the bill. LSB 2537YH (2) 87 je/rj
