Bill Text: TX HB399 | 2011-2012 | 82nd Legislature | Enrolled
Bill Title: Relating to requiring general academic teaching institutions to offer personal financial literacy training.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Passed) 2011-06-17 - Effective immediately [HB399 Detail]
Download: Texas-2011-HB399-Enrolled.html
| H.B. No. 399 | ||
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| relating to requiring general academic teaching institutions to | ||
| offer personal financial literacy training. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter F, Chapter 51, Education Code, is | ||
| amended by adding Section 51.305 to read as follows: | ||
| Sec. 51.305. PERSONAL FINANCIAL LITERACY TRAINING. (a) In | ||
| this section: | ||
| (1) "Coordinating board" means the Texas Higher | ||
| Education Coordinating Board. | ||
| (2) "General academic teaching institution" has the | ||
| meaning assigned by Section 61.003. | ||
| (b) The coordinating board by rule shall: | ||
| (1) require a general academic teaching institution to | ||
| offer training in personal financial literacy to provide students | ||
| of the institution with the knowledge and skills necessary as | ||
| self-supporting adults to make important decisions relating to | ||
| personal financial matters; and | ||
| (2) determine the topics to be covered by the | ||
| training, which may include budgeting, credit cards, spending, | ||
| saving, loan repayment and consolidation, taxes, retirement | ||
| planning, and financing of health care and other benefits. | ||
| (c) The coordinating board by rule may provide for the | ||
| training required under this section to be offered in an online | ||
| course. | ||
| (d) The coordinating board shall require general academic | ||
| teaching institutions to offer the training required by this | ||
| section as soon as the coordinating board considers practical, but | ||
| not later than the 2013 fall semester. This subsection expires | ||
| January 1, 2014. | ||
| SECTION 2. The Texas Higher Education Coordinating Board | ||
| shall adopt rules for the administration of Section 51.305, | ||
| Education Code, as added by this Act, as soon as practicable after | ||
| this Act takes effect. For that purpose, the coordinating board may | ||
| adopt the rules in the manner provided by law for emergency rules. | ||
| SECTION 3. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2011. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 399 was passed by the House on April | ||
| 7, 2011, by the following vote: Yeas 141, Nays 3, 1 present, not | ||
| voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 399 was passed by the Senate on May | ||
| 19, 2011, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: _____________________ | ||
| Date | ||
| _____________________ | ||
| Governor | ||
