Bill Text: MI HB5273 | 2017-2018 | 99th Legislature | Introduced

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Bill Title: Education; curriculum; youth financial education; require to include instruction on taxation of individuals and on individual ownership or leasing of automobiles and residential properties. Amends sec. 1165 of 1976 PA 451 (MCL 380.1165).

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2017-11-29 - Bill Electronically Reproduced 11/28/2017 [HB5273 Detail]

Download: Michigan-2017-HB5273-Introduced.html

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HOUSE BILL No. 5273

 

 

November 28, 2017, Introduced by Reps. Moss, Rabhi, Faris, Sowerby, Chang, Hoadley, Lasinski, Cochran, Greig, Chirkun, Zemke, Wittenberg and Pagan and referred to the Committee on Education Reform.

 

     A bill to amend 1976 PA 451, entitled

 

"The revised school code,"

 

by amending section 1165 (MCL 380.1165), as added by 2002 PA 111.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 1165. (1) Not later than July 1, 2002, the The department

 

shall develop or adopt, and shall make available to schools, 1 or

 

more model programs for youth financial education. A program under

 

this section shall be designed to incorporate financial education

 

throughout the curriculum for grades K to 12 and shall be based on

 

the concept of achieving financial literacy through the teaching of

 

personal financial management skills and the basic principles

 

involved with earning, spending, saving, borrowing, and investing.

 

     (2) Each school district , local act school district, and

 

public school academy is encouraged to adopt and implement the

 

model financial education programs developed under subsection (1)

or 1 or more similar financial education programs.

 

     (3) To the extent that federal funds are available for these

 

purposes, the department shall use those funds for grants to public

 

schools and other measures to encourage implementation of financial

 

education programs.

 

     (4) Not later than the beginning of the 2018-2019 school year,

 

the department shall modify the model program or programs developed

 

or adopted under subsection (1) to ensure that they include

 

instruction on taxation affecting individuals and insurance

 

relating to individual ownership or leasing of automobiles and

 

residential properties.

 

     Enacting section 1. This amendatory act takes effect 90 days

 

after the date it is enacted into law.