STATE OF NEW YORK ________________________________________________________________________ 1030 2023-2024 Regular Sessions IN SENATE January 9, 2023 ___________ Introduced by Sens. JACKSON, BRESLIN, COONEY, PERSAUD, RAMOS, SALAZAR, SEPULVEDA, THOMAS -- read twice and ordered printed, and when printed to be committed to the Committee on Education AN ACT to amend the education law, in relation to establishing instruc- tion in financial literacy for students in sixth through eighth grade 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 803-c 2 to read as follows: 3 § 803-c. Instruction relating to financial literacy. 1. The department 4 shall require that a school district incorporate in each of the grades 5 six through eight financial literacy instruction for pupils enrolled in 6 such grades. The purpose of such instruction shall be to provide middle 7 school students with the basic financial literacy necessary for sound 8 financial decision-making. 9 2. The instruction shall meet the requirements established by the 10 department and shall: 11 a. be appropriate to, and reflect the age and comprehension of, the 12 students enrolled in the particular grade level; and 13 b. include content on budgeting, savings, credit, debt, insurance, 14 investment, and other issues associated with personal financial respon- 15 sibility as determined by the department. 16 3. The commissioner shall provide school districts with sample 17 instructional materials and resources that may be used to support the 18 implementation of the financial literacy instruction requirement. 19 § 2. This act shall take effect immediately and shall apply to all 20 school years commencing on or after the first of July next succeeding 21 the date upon which it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03520-01-3