Illinois Senate Bill 1266

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 3 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Courses of Study Article of the School Code. Instead of requiring consumer education to be taught and studied, provides that beginning with pupils entering the 9th grade in the 2024-2025 school year, pupils in the public schools in grade 11 or 12 shall be taught and be required to complete a stand-alone, one-semester or equivalent course covering personal finance, which shall include, but is not limited to, instruction covering behavioral economics; banking and bill payment; investing; types of credit; managing credit; including credit scores; paying for college; insurance; taxes; budgeting; consumer skills; retirement planning, including tax-advantaged retirement plans; home ownership and financing; and personal transportation, including car ownership and leasing. Provides that the State Board of Education shall devise or approve the personal finance education standards for the course. Provides that the school board shall oversee implementation of the personal finance course for each high school student prior to graduation. Specifies the oversight duties of the school board. In provisions regarding required high school courses, provides that the personal finance education course may be counted toward the fulfillment of other graduation requirements. Makes other changes.

SCH CD-FINANCIAL EDUCATION

Sen. Kimberly Lightford [D]

Date	Chamber	Action
2023-03-10	Senate	Rule 3-9(a) / Re-referred to Assignments
2023-03-08	Senate	Postponed - Education
2023-02-22	Senate	Postponed - Education
2023-02-14	Senate	Assigned to Education
2023-02-03	Senate	Referred to Assignments
2023-02-03	Senate	First Reading
2023-02-03	Senate	Filed with Secretary by Sen. Kimberly A. Lightford

Chapter	Article	Section	Citation Type	Statute Text
105	5	27-12.1	Amended Code	Citation Text
105	5	27-22	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1266&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB1266.htm