Bill Text: NY A05516 | 2021-2022 | General Assembly | Introduced


Bill Title: Relates to establishing instruction in financial literacy for students in sixth through eighth grade; requires such instruction to include content on budgeting, savings, credit, debt, insurance, investment, and other issues associated with personal financial responsibility as determined by the education department.

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Introduced - Dead) 2022-02-08 - enacting clause stricken [A05516 Detail]

Download: New_York-2021-A05516-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          5516

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 19, 2021
                                       ___________

        Introduced  by  M.  of  A.  RICHARDSON  -- read once and referred to the
          Committee on Education

        AN ACT to amend the education law, in relation to establishing  instruc-
          tion in financial literacy for students in sixth through eighth grade

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The education law is amended by adding a new section  803-c
     2  to read as follows:
     3    § 803-c. Instruction relating to financial literacy. 1. The department
     4  shall  require  that a school district incorporate in each of the grades
     5  six through eight financial literacy instruction for pupils enrolled  in
     6  such  grades. The purpose of such instruction shall be to provide middle
     7  school students with the basic financial literacy  necessary  for  sound
     8  financial decision-making.
     9    2.  The  instruction  shall  meet  the requirements established by the
    10  department and shall:
    11    a. be appropriate to, and reflect the age and  comprehension  of,  the
    12  students enrolled in the particular grade level; and
    13    b.  include  content  on  budgeting, savings, credit, debt, insurance,
    14  investment, and other issues associated with personal financial  respon-
    15  sibility as determined by the department.
    16    3.  The  commissioner  shall  provide  school  districts  with  sample
    17  instructional materials and resources that may be used  to  support  the
    18  implementation of the financial literacy instruction requirement.
    19    §  2.  This  act  shall take effect immediately and shall apply to all
    20  school years commencing on or after the first of  July  next  succeeding
    21  the date upon which it shall have become a law.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02281-01-1
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