Bill Text: IL HB1375 | 2023-2024 | 103rd General Assembly | Engrossed

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Bill Title: Amends the School Code. Provides that pupils in the public schools in grades 9 through 12 shall be taught and be required to study courses which include instruction in the area of financial literacy and consumer education in alignment with the Illinois Social Science Learning Standards for Economics and Financial Literacy or other relevant career and technical education learning standards, as appropriate (rather than courses which include instruction in the area of consumer education). Sets forth specified requirements for the instruction. Provides that the State Board of Education shall determine, subject to appropriation, how to prepare and make available instructional resources and professional learning opportunities for educators that may be used for the purpose of meeting the requirements (rather than devise or approve the consumer education curriculum for grades 9 through 12 and specify the minimum amount of instruction).

Spectrum: Slight Partisan Bill (Democrat 12-5)

Status: (Engrossed) 2024-06-29 - Rule 19(b) / Re-referred to Rules Committee [HB1375 Detail]

Download: Illinois-2023-HB1375-Engrossed.html

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AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Purpose. The General Assembly has determined
that it is in the best interests of the State and the State's
citizens that all high school students be required to take a
one semester course in personal finance prior to graduation.
Research has shown that such a course is significantly more
effective if taught as a separate course in the 11th or 12th
grade rather than embedded in another course or taught at an
earlier time. Similarly, research has shown that before the
course can be implemented, there must be time to develop
curriculum and provide incentives for professional development
for teachers of the course.
Section 5. The School Code is amended by changing Section
27-12.1 and 27-22 as follows:
(105 ILCS 5/27-12.1) (from Ch. 122, par. 27-12.1)
Sec. 27-12.1. Personal finance Consumer education.
(a) For pupils entering the 9th grade before the 2027-2028
school year, pupils Pupils in the public schools in grades 9
through 12 shall be taught and be required to study courses
which include instruction in the area of consumer education,

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including but not necessarily limited to (i) understanding the
basic concepts of financial literacy, including consumer debt
and installment purchasing (including credit scoring, managing
credit debt, and completing a loan application), budgeting,
savings and investing, banking (including balancing a
checkbook, opening a deposit account, and the use of interest
rates), understanding simple contracts, State and federal
income taxes, personal insurance policies, the comparison of
prices, higher education student loans, identity-theft
security, and homeownership (including the basic process of
obtaining a mortgage and the concepts of fixed and adjustable
rate mortgages, subprime loans, and predatory lending), and
(ii) understanding the roles of consumers interacting with
agriculture, business, labor unions and government in
formulating and achieving the goals of the mixed free
enterprise system. The State Board of Education shall devise
or approve the consumer education curriculum for grades 9
through 12 and specify the minimum amount of instruction to be
devoted thereto.
(a-5) Beginning with pupils entering the 9th grade in the
2027-2028 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,

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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. The State Board of Education shall devise or approve
the personal finance education standards for the course. The
State Board of Education may review and update these
curriculum standards every 5 years. The State Board of
Education may adopt or adapt national standards for personal
finance education in implementing the curriculum standards.
A school board shall oversee implementation of the
personal finance course for each high school student prior to
graduation. This oversight shall include:
(1) identifying the certifications and credentials
needed by teachers of the personal finance course, such as
credentials in social studies, family and consumer
science, mathematics, career and technical education, or
other subject matters;
(2) preparing a list of curriculum providers that
delineates between core curriculum providers and
supplementary providers in coordination with the State
Board of Education; and
(3) preparing a list of professional development
providers that have the capability to support educators
with the implementation of the course and that have
delivered professional development to educators in the

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State within the past 12 months.
The State Board of Education shall develop implementation
guidelines and timelines to assist schools in implementing
this course.
(b) (Blank).
(c) The Financial Literacy Fund is created as a special
fund in the State treasury. State funds and private
contributions for the promotion of financial literacy shall be
deposited into the Financial Literacy Fund. All money in the
Financial Literacy Fund shall be used, subject to
appropriation, by the State Board of Education to award grants
to school districts for the following:
(1) Defraying the costs of financial literacy training
for teachers.
(2) Rewarding a school or teacher who wins or achieves
results at a certain level of success in a financial
literacy competition.
(3) Rewarding a student who wins or achieves results
at a certain level of success in a financial literacy
competition.
(4) Funding activities, including books, games, field
trips, computers, and other activities, related to
financial literacy education.
In awarding grants, every effort must be made to ensure
that all geographic areas of the State are represented.
(d) A school board may establish a special fund in which to

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receive public funds and private contributions for the
promotion of financial literacy. Money in the fund shall be
used for the following:
(1) Defraying the costs of financial literacy training
for teachers.
(2) Rewarding a school or teacher who wins or achieves
results at a certain level of success in a financial
literacy competition.
(3) Rewarding a student who wins or achieves results
at a certain level of success in a financial literacy
competition.
(4) Funding activities, including books, games, field
trips, computers, and other activities, related to
financial literacy education.
(e) The State Board of Education, upon the next
comprehensive review of the Illinois Learning Standards, is
urged to include the instruction listed in subsection (a-5),
basic principles of personal insurance policies, and
understanding simple contracts.
(Source: P.A. 99-284, eff. 8-5-15.)
(105 ILCS 5/27-22) (from Ch. 122, par. 27-22)
Sec. 27-22. Required high school courses.
(a) (Blank).
(b) (Blank).
(c) (Blank).

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(d) (Blank).
(e) Through the 2023-2024 school year, as a prerequisite
to receiving a high school diploma, each pupil entering the
9th grade must, in addition to other course requirements,
successfully complete all of the following courses:
(1) Four years of language arts.
(2) Two years of writing intensive courses, one of
which must be English and the other of which may be English
or any other subject. When applicable, writing-intensive
courses may be counted towards the fulfillment of other
graduation requirements.
(3) Three years of mathematics, one of which must be
Algebra I, one of which must include geometry content, and
one of which may be an Advanced Placement computer science
course. A mathematics course that includes geometry
content may be offered as an integrated, applied,
interdisciplinary, or career and technical education
course that prepares a student for a career readiness
path.
(3.5) For pupils entering the 9th grade in the
2022-2023 school year and 2023-2024 school year, one year
of a course that includes intensive instruction in
computer literacy, which may be English, social studies,
or any other subject and which may be counted toward the
fulfillment of other graduation requirements.
(4) Two years of science.

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(5) Two years of social studies, of which at least one
year must be history of the United States or a combination
of history of the United States and American government
and, beginning with pupils entering the 9th grade in the
2016-2017 school year and each school year thereafter, at
least one semester must be civics, which shall help young
people acquire and learn to use the skills, knowledge, and
attitudes that will prepare them to be competent and
responsible citizens throughout their lives. Civics course
content shall focus on government institutions, the
discussion of current and controversial issues, service
learning, and simulations of the democratic process.
School districts may utilize private funding available for
the purposes of offering civics education. Beginning with
pupils entering the 9th grade in the 2021-2022 school
year, one semester, or part of one semester, may include a
financial literacy course.
(6) One year chosen from (A) music, (B) art, (C)
foreign language, which shall be deemed to include
American Sign Language, (D) vocational education, or (E)
forensic speech (speech and debate). A forensic speech
course used to satisfy the course requirement under
subdivision (1) may not be used to satisfy the course
requirement under this subdivision (6).
(e-5) Beginning with the 2024-2025 school year, as a
prerequisite to receiving a high school diploma, each pupil

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entering the 9th grade must, in addition to other course
requirements, successfully complete all of the following
courses:
(1) Four years of language arts.
(2) Two years of writing intensive courses, one of
which must be English and the other of which may be English
or any other subject. If applicable, writing-intensive
courses may be counted toward the fulfillment of other
graduation requirements.
(3) Three years of mathematics, one of which must be
Algebra I, one of which must include geometry content, and
one of which may be an Advanced Placement computer science
course. A mathematics course that includes geometry
content may be offered as an integrated, applied,
interdisciplinary, or career and technical education
course that prepares a student for a career readiness
path.
(3.5) One year of a course that includes intensive
instruction in computer literacy, which may be English,
social studies, or any other subject and which may be
counted toward the fulfillment of other graduation
requirements.
(4) Two years of laboratory science.
(5) Two years of social studies, of which at least one
year must be history of the United States or a combination
of history of the United States and American government

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and at least one semester must be civics, which shall help
young people acquire and learn to use the skills,
knowledge, and attitudes that will prepare them to be
competent and responsible citizens throughout their lives.
Civics course content shall focus on government
institutions, the discussion of current and controversial
issues, service learning, and simulations of the
democratic process. School districts may utilize private
funding available for the purposes of offering civics
education. One semester, or part of one semester, may
include a financial literacy course.
(5.5) One semester or the equivalent of a stand-alone
course on personal finance education to be taken in grade
11 or 12, which may be counted toward the fulfillment of
other graduation requirements as determined by the State
Board of Education.
(6) One year chosen from (A) music, (B) art, (C)
foreign language, which shall be deemed to include
American Sign Language, (D) vocational education, or (E)
forensic speech (speech and debate). A forensic speech
course used to satisfy the course requirement under
subdivision (1) may not be used to satisfy the course
requirement under this subdivision (6).
(e-10) Beginning with the 2028-2029 school year, as a
prerequisite to receiving a high school diploma, each pupil
entering the 9th grade must, in addition to other course

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requirements, successfully complete 2 years of foreign
language courses, which may include American Sign Language. A
pupil may choose a third year of foreign language to satisfy
the requirement under subdivision paragraph (6) of subsection
(e-5).
(f) The State Board of Education shall develop and inform
school districts of standards for writing-intensive
coursework.
(f-5) If a school district offers an Advanced Placement
computer science course to high school students, then the
school board must designate that course as equivalent to a
high school mathematics course and must denote on the
student's transcript that the Advanced Placement computer
science course qualifies as a mathematics-based, quantitative
course for students in accordance with subdivision (3) of
subsection (e) of this Section.
(g) Public Act 83-1082 This amendatory Act of 1983 does
not apply to pupils entering the 9th grade in 1983-1984 school
year and prior school years or to students with disabilities
whose course of study is determined by an individualized
education program.
Public Act 94-676 This amendatory Act of the 94th General
Assembly does not apply to pupils entering the 9th grade in the
2004-2005 school year or a prior school year or to students
with disabilities whose course of study is determined by an
individualized education program.

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Subdivision (3.5) of subsection (e) does not apply to
pupils entering the 9th grade in the 2021-2022 school year or a
prior school year or to students with disabilities whose
course of study is determined by an individualized education
program.
Subsection (e-5) does not apply to pupils entering the 9th
grade in the 2023-2024 school year or a prior school year or to
students with disabilities whose course of study is determined
by an individualized education program. Subsection (e-10) does
not apply to pupils entering the 9th grade in the 2027-2028
school year or a prior school year or to students with
disabilities whose course of study is determined by an
individualized education program.
(h) The provisions of this Section are subject to the
provisions of Section 27-22.05 of this Code and the
Postsecondary and Workforce Readiness Act.
(i) The State Board of Education may adopt rules to modify
the requirements of this Section for any students enrolled in
grades 9 through 12 if the Governor has declared a disaster due
to a public health emergency pursuant to Section 7 of the
Illinois Emergency Management Agency Act.
(Source: P.A. 101-464, eff. 1-1-20; 101-643, eff. 6-18-20;
101-654, Article 50, Section 50-5, eff. 3-8-21; 101-654,
Article 60, Section 60-5, eff. 3-8-21; 102-366, eff. 8-13-21;
102-551, eff. 1-1-22; 102-864, eff. 5-13-22; revised 9-2-22.)