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H.R. 201 Establishes a task force for personal financial literacy initiatives for Pennsylvanians. Status—Referred to Education, 3/29/2005 S.B. 528 Provides for personal financial literacy program. Status—Referred to Education, 3/29/2005 RHODE ISLAND H.R. 6367 Proclaims April 2005 to be “Financial Literacy Month” in the state of Rhode Island. Status—Passed House, Resolution 189, 4/20/05 S.R. 994 Proclaims April 2005 to be “Financial Literacy Month” in the state of Rhode Island. Status—Passed Senate, Resolution 144, 3/30/2005 SOUTH CAROLINA H.B. 3020 Enacts the Financial Literacy Instruction Act of 2004, to provide for the development or adoption of a curriculum for local school boards to teach financial literacy; and provides for the establishment of a fund to receive public and private contributions for financial literacy instruction. Status—Signed by Governor, Act No. 38, 4/15/2005 H.C.R. 3282 Applauds the newly formed South Carolina Jump$tart coalition for personal financial literacy and recognizes April 11-15, 2005, as “South Carolina Financial Literacy Week.” Status—Adopted, 1/27/2005 S.B. 122 Expands the educational standards and core academic areas to include certain basic skills required to function independently as an adult, including counting money and making change, understanding and applying percentages and interest rates, and balancing a checkbook. Status—Referred to Committee on Education, 1/11/2005 S.B. 501 Enacts the Financial Literacy Instruction Act of 2004, to provide for the development or adoption of a curriculum for local school boards to teach financial literacy; and provides for the establishment of a fund to receive public and private contributions for financial literacy instruction. Status—Referred to Committee on Education, 2/17/2005 TEXAS H.B. 492 Relates to personal finance education as a requirement for graduation from public high school. Status—Signed by Governor, 6/17/2005 H.B. 763 Relates to a financial literacy curriculum requirement in certain public high schools located in the Texas-Mexico border region. Status—Referred to Public Education, 2/09/2005 H.B. 900 Relates to the requirement that workforce development programs provide training in financial literacy. Status—Signed by Governor, 6/18/2005 H.R. 1172 Commends all those associated with Youth Financial Literacy Month and encourage parents, teachers and other leaders to help their children and students gain practical money management skills. Status—Adopted, 4/20/2005 S.B. 498 Relates to the development of a financial literacy program for consumers. Status—Referred to Education, 2/24/2005 S.B. 851 Directs the Texas Education Agency (TEA) to establish a financial literacy pilot program in no more than five school districts to provide students with the knowledge and skills necessary to make critical financial decisions. Requires TEA to report to the Legislature by January 1, 2007, on the implementation and effectiveness of the pilot program. A pilot program will allow schools to develop and test programs, and will help develop a strong and effective model for teaching financial soundness. Status—Signed by Governor, 6/17/2005 VIRGINIA S.B. 950 Requires instruction in economics education and financial literacy in public middle and high schools. The Board of Education is required to develop and approve objectives for economics education and financial literacy in grades six through 12. The principles of the American economic system and financial literacy also must be systematically infused in the Standards of Learning and in career and technical education programs. However, these objectives are not required to be included in the Standards of Learning assessments. To provide for experiential learning and practical 5 NATIONAL CONFERENCE OF STATE LEGISLATURES
application of economic and financial literacy principles, public schools also may establish on-site banking programs for students. In addition, public institutions of higher education must make provisions for the promotion of the development of student life skills through inclusion of principles of economics education and financial literacy within an existing general education course, the freshman orientation process, or other appropriate venue. The provisions of §§22.1-200.02 and 22.1-208.2:3, which provide for instruction in certain mathematics and finance objectives, and the Banking-at-School Partnership Program, respectively, have been incorporated in this bill and have been repealed. Status—Signed by Governor, Chapter 741, 3/26/2005 WASHINGTON H.B. 2152 Provides that, to the extent funds are appropriated or are available for this purpose, the superintendent of public instruction and other members of the partnership created in RCW 28A.300.455 shall make available to school districts the list of identified financial literacy skills and knowledge, instructional materials, assessments and other relevant information. Encourages each school district to provide its students with an opportunity to master the financial literacy skills and knowledge developed under RCW 28A.300.460. Declares that, for the purposes of RCE 28A.300.455, 28A.300.460 and this act, it is not necessary to evaluate and apply the office of the superintendent of public instruction essential academic learning requirements or to develop grade level expectations. Appropriates the sum of $25,000, or as much thereof as may be necessary, for the fiscal year ending June 30, 2006, from the general fund to the Washington financial literacy public-private partnership account for the purposes of RCW 28A.300.465. Appropriates the sum of $25,000, or as much thereof as may be necessary, for the fiscal year ending June 30, 2007, from the general fund to the Washington financial literacy public-private partnership account for the purposes of RCW 28A.300.465. Declares that the amounts in this provision are provided solely for the purposes of RCW 28A.300.465. Status—Public hearing in committee, 3/05/2005 WEST VIRGINIA H.B. 2837 Prescribes personal finance instruction in secondary schools by the state Board of Education. Status—Signed by Governor, Chapter 88, 4/20/2005 WYOMING S.J.R. 5 Recognizes financial education’s value to the state of Wyoming and its citizens. Status—Signed by Governor, 3/02/2005 6 NATIONAL CONFERENCE OF STATE LEGISLATURES 2004 ARIZONA S.C.R. 1048 Designates April as Financial Literacy for Youth Month in Arizona to increase public and educator awareness of the need to improve financial literacy among the state’s youth. Encourages parents and educators to participate in the activities and exercises to increase financial literacy. Status—Transmitted to Secretary of State, 4/12/2004 CALIFORNIA A.B. 707 Requires the superintendent of public instruction to plan and develop a one-semester instructional program on economics and requires the Department of Consumer Affairs and the superintendent of public instruction to establish, by April 1, 2004, a Personal Financial Management Curriculum Task Force that would be required to develop curriculum and educational programs for grades seven to 12, inclusive, in comprehensive personal financial management. Status—Died pursuant to Art. IV, Sec. 10(c) of the Constitution, 2/02/2004 A.B. 1278 Existing law requires the governing board of each school district that maintains a high school to prescribe certain courses of study designed to provide the skills and knowledge required for adult life for pupils who attend the schools within its school district. Adds to these requirements a course of study relating to the economics of higher education and would state the intent of the Legislature that the course of study be taught in grade 12 in a consumer economics course. Also states the intent of the Legislature that the California Student Aid Commission absorb the costs and provide the materials needed for instruction in the economics of higher education. Status—Died pursuant to Art. IV, Sec. 10(c) of the Constitution, 2/02/2004 A.B. 2435 Permits a school district to provide instruction on personal finance. Status—Vetoed by governor, 9/28/2004 A.C.R. 61 Declares the month of April 2004 as Financial Literacy for Youth Month, in order to raise public awareness about the need for increased financial literacy; and encourages the state Department of Education to review existing financial literacy programs and materials that are available in both the private
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