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A.B. 9654 Provides for the registration of cash-dispensing machines operated by entities other than banking organizations and for an improving financial literacy fund; and requires disclosures of fees and other information to cash-dispensing machine users. Status—Passed Assembly, 6/16/2004 A.B. 11869 Establishes that instruction in financial education be provided to pupils in grades nine through 12; and establishes what should be included in such curriculum, including the basics of financial planning, budgeting, borrowing, interest rates, personal insurance policies, etc. Status—Died, 2004 S.B. 7069 Requires institutions of higher learning to provide new students a course of instruction on the implications of establishing a bad credit rating; and authorizes such institutions to regulate campus activities of credit card issuers. Status—Died, 2004 S.B. 7128 Provides for the registration of cash-dispensing machines operated by entities other than banking organizations and for an improving financial literacy fund; and requires disclosures of fees and other information to cash-dispensing machine users. Status—Died, 2004 OHIO H.B. 160 Requires that every high school include in the requirements for graduation instruction in personal economics. Status—Referred to Education Committee, 4/08/2003 H.B. 482 Prohibits registration of an applicant as a mortgage broker or loan officer, certification or licensure of an applicant as a real estate appraiser, or registration as a real estate appraiser assistant if a national criminal background check shows that the applicant has committed specified criminal offenses; prohibits the appraisal of real estate without state certification or licensure; prohibits a person knowingly affecting the independent judgment of an appraiser as to a dwelling’s value; and requires that every high school include in the requirements for graduation instruction in personal economics. Status—Referred to BPS Committee, 11/12/2004 OKLAHOMA S.B. 893 Requires instruction in financial literacy in schools; states minimum time period of instruction; establishes criteria; and requires the state Board of Education to adopt rules. Status—Failed to pass Senate, 3/09/2004 PENNSYLVANIA H.R. 814 Establishes a task force for personal financial literacy initiatives for Pennsylvanians. Status—Referred to Education, 6/29/2004 S.B. 843 Provides for a personal financial literacy program. Status—Referred to Education, 6/24/2003 RHODE ISLAND S.R. 3078 Proclaims April as “Financial Literacy for Youth Month.” Status—Adopted, 4/29/2004 SOUTH CAROLINA H.B. 4819 S.B. 1106 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 to provide for the establishment of a fund to receive public and private contributions for financial literacy instruction. Status—Resides in Senate, 6/02/2004 / 3/30/2004 SOUTH DAKOTA H.C.R. 1015 Urges the South Dakota Board of Education to integrate the principles of basic personal finance into the public school curricula in South Dakota. Status—Senate Concurrent in Resolution Passed, 2/21/2004 VIRGINIA S.B. 479 Requires the Board of Education to develop and approve objectives for mathematics at the middle and high school levels, for personal living and finances, which shall focus on money-management skills for individuals and families. The personal living and finances objectives shall require instruction in those skills necessary to handle personal business and finances and shall include, but need not be limited to, the following: opening a bank account and judging the quality of a bank’s services; balancing a checkbook; completing a loan application; the implica- 9 NATIONAL CONFERENCE OF STATE LEGISLATURES
tions of an inheritance; the basics of personal insurance policies; consumer rights and responsibilities; dealing with salesmen and merchants; debt management, including retail and credit card debt; state and federal tax computation; local tax assessments; computation of interest rates by various mechanisms; understanding simple contracts; and learning how to contest an incorrect bill. These personal living and finances objectives shall not be required to be included in the board’s Standards of Learning, and shall be developed in a manner to ensure that instruction in the Standards of Learning shall not be deemphasized. The board shall not be required to evaluate student achievement concerning such objectives in the Standards of Learning assessments required by §22.1-253.13:3. Status—Signed by Governor, Chapter 939, 4/15/2004 WASHINGTON H.B. 2009 S.B. 5456 Directs the state Board of Education to develop or adopt, and to make available to schools, one or more model programs for youth financial education. A program under this act shall be designed to incorporate financial education throughout the curricula for grades kindergarten through 12 and shall be based on the concept of achieving financial literacy through the teaching of personal financial management skills and the basic principles involved with earning, spending, saving and investing. Status—By Resolution, reintroduced and retained in present status, 1/12/2004 H.B. 2455 Relates to financial literacy. Status—Signed by Governor, Chapter 247, 3/31/2004 Governor’s partial veto: http://www.leg.wa.gov/pub/billinfo/2003-04/House/2450- 2474/2455-s_vto_04072004.txt S.B. 6212 Recognizes the damaging effects of not properly preparing youth for the financial realities of modern life, including bankruptcy, poor retirement planning, mounting debt, and a lower standard of living for Washington families. Finds that the purpose of the state’s system of public education is to help students acquire the skills and knowledge they will need to be productive and responsible 21st century citizens. Finds that responsible citizenship includes an ability to make wise financial decisions. Declares an intent to assist school districts in their efforts to ensure that students are financially literate through creating a set of financial literacy learning guidelines, providing information on instructional materials that help students meet the learning guidelines, data collection, and creating a public-private partnership to help pro- 10 NATIONAL CONFERENCE OF STATE LEGISLATURES vide instructional tools and professional development to school districts that wish to increase the financial literacy of their students. Provides that, by September 30, 2004, the financial literacy public-private partnership shall adopt a definition of financial literacy to be used in educational efforts. Provides that, by June 30, 2005, the financial literacy public-private partnership shall identify strategies to increase the financial literacy of public school students in our state. Declares that the task of the financial literacy public-private partnership is to seek out and determine the best methods of equipping students with the knowledge and skills they need, before they become self-supporting, in order for them to make critical decisions regarding their personal finances. The components of personal financial literacy examined shall include, at a minimum, consumer financial education, personal finance and personal credit. Status—Referred to Ways & Means Committee, 1/28/2004 WEST VIRGINIA H.B. 4574 Provides students a basic understanding of personal finance, requires the state board to prescribe instruction on personal finance that shall be integrated into the curriculum of an appropriate existing course or courses for all students in the secondary schools. Status—Referred to Senate Education Committee,e 3/03/2004 WISCONSIN A.B. 94 Beginning with pupils who graduate in May 2008, this bill requires a 0.5 credit in personal finance for high school graduation. Status—Failed to pass pursuant to Senate Joint Resolution, 3/31/2004 2003 ARKANSAS S.B. 41, Second Extraordinary Session Assists public school districts in offering a personal finance course to students in grades nine through 12. Status—Signed by Governor, Act 42, 1/21/2004 S.B. 972 Requires students to take a course in basic home finances before graduation. Status—Died in Senate Committee at Sine Die adjournment, 4/17/2003
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