Bill Text: NY A04620 | 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 15-0)

Status: (Introduced - Dead) 2018-01-03 - referred to education [A04620 Detail]

Download: New_York-2017-A04620-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4620
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 3, 2017
                                       ___________
        Introduced  by M. of A. BLAKE, HUNTER, RICHARDSON, PEOPLES-STOKES, HEVE-
          SI, McDONALD, COOK, TITUS, SEPULVEDA, BICHOTTE, STECK  --  Multi-Spon-
          sored  by -- M. of A. ABBATE, HYNDMAN, SIMON -- read once and referred
          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 56 to read as follows:
     3    56. 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.
                                                                   LBD00416-01-7