Bill Text: NY A02298 | 2023-2024 | General Assembly | Amended

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Bill Title: Requires high schools in grades nine through twelve to provide a course in financial literacy; requires students to complete such course as a condition of graduation.

Spectrum: Partisan Bill (Democrat 22-0)

Status: (Introduced) 2024-01-03 - referred to education [A02298 Detail]

Download: New_York-2023-A02298-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         2298--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 25, 2023
                                       ___________

        Introduced by M. of A. JACOBSON, TAYLOR, CRUZ, ZINERMAN, RAGA, SANTABAR-
          BARA,  LEVENBERG, CUNNINGHAM, McDONALD, VANEL, WOERNER, EPSTEIN, HUNT-
          ER, GIBBS, REYES -- read once and referred to the Committee on  Educa-
          tion  --  committee  discharged,  bill  amended,  ordered reprinted as
          amended and recommitted to said committee

        AN ACT to amend the education law, in relation to requiring high schools
          to provide a course in financial literacy and  requiring  students  to
          complete such course as a condition of graduation

          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  802-b
     2  to read as follows:
     3    §  802-b.  Instruction  relating to financial literacy. 1. The commis-
     4  sioner is hereby directed to provide and prescribe a course of  instruc-
     5  tion  on  financial  literacy  for  high  school students in grades nine
     6  through twelve which shall include, but not be limited to  the  teaching
     7  of  personal  budgeting,  wages  and taxes, self-employment, savings and
     8  investments (stocks, bonds and mutual funds), debt management,  checking
     9  accounts,  credit cards, credit scores, saving for education and retire-
    10  ment, insurance, rights and obligations as a tenant, basic  concepts  on
    11  borrowing  including  the  purchasing of automobiles and homes, benefits
    12  and drawbacks of leasing and/or purchasing of automobiles, and the bene-
    13  fits and drawbacks of renting and/or purchasing a home. The course shall
    14  be taught on a pass/fail basis and shall not affect the student's  grade
    15  point average.
    16    2.  School  authorities  shall provide the needed facilities, time and
    17  place for the instruction set forth in this section  and  shall  provide
    18  learning  aids  and  curriculum  resource  materials which contribute to
    19  effective teaching methods and learning.
    20    3. As a condition of graduation from  high  school,  a  student  shall
    21  attend  and  pass  the  course on financial literacy; provided, however,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02171-03-3
        A. 2298--A                          2

     1  that with respect to students who have individual education  plans,  the
     2  completion  of  such course shall not be a requirement for graduation if
     3  it is not specifically included as a requirement in the student's  indi-
     4  vidual  education  plan  recommended by the school district committee on
     5  the handicapped and such student is a  student  with  a  disability,  as
     6  defined in section forty-four hundred one of this chapter.
     7    §  2.  This act shall take effect on the first of July next succeeding
     8  the date on which it shall have become a law.