Bill Text: NY A04142 | 2013-2014 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Provides that juniors and seniors at secondary schools must take a financial literacy and personal finances course.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2014-03-05 - print number 4142a [A04142 Detail]
Download: New_York-2013-A04142-Introduced.html
Bill Title: Provides that juniors and seniors at secondary schools must take a financial literacy and personal finances course.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2014-03-05 - print number 4142a [A04142 Detail]
Download: New_York-2013-A04142-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 4142 2013-2014 Regular Sessions I N A S S E M B L Y February 1, 2013 ___________ Introduced by M. of A. HEASTIE, CRESPO, JAFFEE, ROBINSON, BRAUNSTEIN, CASTRO, BOYLAND -- Multi-Sponsored by -- M. of A. ARROYO, DINOWITZ, MILLMAN, THIELE -- read once and referred to the Committee on Educa- tion AN ACT to amend the education law, in relation to requiring secondary school students to complete a financial literacy and personal finances course THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Section 305 of the education law is amended by adding a new 2 subdivision 43 to read as follows: 3 43. THE COMMISSIONER IS AUTHORIZED AND DIRECTED TO DEVELOP A CONCISE 4 COURSE OF INSTRUCTION IN FINANCIAL LITERACY AND PERSONAL FINANCES, AND 5 REQUIRE THAT SUCH COURSE BE COMPLETED BY PUPILS IN GRADES ELEVEN AND 6 TWELVE. SUCH COURSE OF INSTRUCTION MAY BE INCORPORATED INTO OTHER CLASS 7 WORK OR COURSES OF INSTRUCTION PROVIDED TO SUCH PUPILS. THE FINANCIAL 8 LITERACY COURSE MAY INCLUDE, BUT NEED NOT BE LIMITED TO INSTRUCTION ON 9 USING CHECKING AND SAVINGS ACCOUNTS, OBTAINING SHORT OR LONG TERM CRED- 10 IT, SECURING A LOAN FOR HIGH COST ITEMS SUCH AS A MOTOR VEHICLE OR A 11 HOME, OBTAINING AND USING CREDIT AND DEBIT CARDS, INVESTING AND SAVING 12 MONEY, AND PLANNING FOR RETIREMENT. 13 S 2. This act shall take effect on the first of September in the 14 calendar year commencing after the date it shall have become a law; and 15 the commissioner of education is immediately authorized and directed to 16 promulgate, amend and/or repeal any rules and regulations necessary to 17 implement the provisions of this act on its effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07708-01-3