Bill Text: NY S08460 | 2017-2018 | General Assembly | Introduced

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Bill Title: Provides that juniors and seniors at secondary schools must take a financial literacy and personal finances course.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-05-08 - REFERRED TO EDUCATION [S08460 Detail]

Download: New_York-2017-S08460-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          8460
                    IN SENATE
                                       May 8, 2018
                                       ___________
        Introduced  by  Sen.  COMRIE -- 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  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 57 to read as follows:
     3    57. 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    §  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.
                                                                   LBD00416-03-8