Bill Text: NY S01030 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes 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: Partisan Bill (Democrat 8-0)

Status: (Introduced) 2024-01-03 - REFERRED TO EDUCATION [S01030 Detail]

Download: New_York-2023-S01030-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1030

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 9, 2023
                                       ___________

        Introduced  by  Sens. JACKSON, BRESLIN, COONEY, PERSAUD, RAMOS, SALAZAR,
          SEPULVEDA, THOMAS -- read twice and ordered printed, and when  printed
          to be committed 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.
                                                                   LBD03520-01-3