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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2298

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 25, 2023
                                       ___________

        Introduced  by M. of A. JACOBSON, TAYLOR, CRUZ -- read once and referred
          to the Committee on Education

        AN ACT to amend the education law, in relation to requiring senior  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 senior high school students  which  shall
     6  include, but not be limited to the teaching of personal budgeting, wages
     7  and  taxes,  self-employment, savings and investments (stocks, bonds and
     8  mutual funds), debt management, checking accounts, credit cards,  credit
     9  scores, saving for education and retirement, insurance, rights and obli-
    10  gations  as a tenant, basic concepts on borrowing including the purchas-
    11  ing of automobiles and homes, benefits and drawbacks of  leasing  and/or
    12  purchasing  of  automobiles,  and  the benefits and drawbacks of renting
    13  and/or purchasing a home. The course shall  be  taught  on  a  pass/fail
    14  basis and shall not affect the student's grade point average.
    15    2.  School  authorities  shall provide the needed facilities, time and
    16  place for the instruction set forth in this section  and  shall  provide
    17  learning  aids  and  curriculum  resource  materials which contribute to
    18  effective teaching methods and learning.
    19    3. As a condition of graduation from senior  high  school,  a  student
    20  shall attend and pass the course on financial literacy; provided, howev-
    21  er,  that  with respect to students who have individual education plans,
    22  the completion of such course shall not be a requirement for  graduation
    23  if  it  is  not  specifically included as a requirement in the student's
    24  individual education plan recommended by the school  district  committee

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02171-01-3
        A. 2298                             2

     1  on  the  handicapped and such student is a student with a disability, as
     2  defined in section forty-four hundred one of this chapter.
     3    §  2.  This act shall take effect on the first of July next succeeding
     4  the date on which it shall have become a law.