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H.C.R. 15 Directs the state Board of Education to implement the inclusion of elements relating to personal finance among the essential knowledge and skills in the required public school curriculum, and to adopt and promote a personal finance education program that provides public school districts with textbook selections to assist in the program’s implementation. Status—Signed by Governor, 6/22/2003 H.R. 523 Recognizes all the participants in the 2003 Facts on Saving and Investing Campaign for their efforts to help Texans plan for a prosperous future and encourages Texans of all ages and income levels to increase their financial savvy and to save and invest wisely. Status—Adopted, 4/14/2003 S.B. 627 Requires the Office of the Consumer Credit Commissioner, the State Securities Board, the Texas Education Agency and the Higher Education Coordinating Board to collaborate to develop financial literacy education programs for adults and children. Materials related to higher education financial aid must be provided to financial aid officers at institutions of higher education. Status—Passed Senate, Referred to Financial Institutions, 5/23/2003 S.B. 1004 Relates to a list of free resources for the instruction of personal finance and consumer education in public schools. Status—Referred to Education, 3/13/2003 UTAH H.B. 77 Modifies the state System of Public Education by requiring the state Board of Education to include 0.5 units of financial literacy credit in its graduation requirements. Status—Enacting Clause Struck, 3/05/2003 S.B. 154 Includes as a graduation requirement instruction that stresses general financial literacy from basic budgeting to financial investments, including bankruptcy education. Status—Signed by Governor, Chapter 315, 3/24/2003 VIRGINIA H.B. 2151 Codifies and broadens existing budget language to direct the Department of Education to collect annually necessary data to make calculations at the beginning and end of each school year 13 NATIONAL CONFERENCE OF STATE LEGISLATURES to ensure that each school division has appropriated sufficient funds to support its estimated required local expenditure for providing an educational program that meets the prescribed Standards of Quality (SOQ). The end-of-year calculations shall be designed to verify whether the locality has provided the required expenditure, based on average daily membership as of March 31 of the relevant school year. Status—Signed by Governor, Chapter 948, 3/24/2003 2002 CALIFORNIA S.B. 953 Requires the superintendent of public instruction to make available to teachers a curriculum, as specified, on human growth, human development and financial preparedness. Requires the state Board of Education to integrate with specified academic areas components on human growth, human development contribution to society across the life course, and financial preparedness. Status—Chaptered by Secretary of State, Chapter 541, 9/15/2002 IOWA H.F. 2221 Directs the director of the Department of Education to develop model money management curricula for the elementary and secondary grades, along with a statewide model for staff development for teaching money management, and to make the models available to school districts, accredited nonpublic schools, and area education agencies for implementation by the school year beginning July 1, 2004. The materials developed must include developmentally appropriate information and activities, must be designed for integration into other elementary and secondary school subject areas, and must provide opportunities for developing partnerships with private financial institutions in order to provide students with applied money management knowledge and skills. Status—Referred to Subcommittee, 2/06/2002 S.F. 2072 Directs the director of the Department of Education to develop model money management curricula for grades three to 12, along with a statewide model for staff development for teaching money management, and to make the models available to school districts, accredited nonpublic schools, and area education agencies. The materials developed must include developmentally appropriate information and activities, must be designed for integration into other elementary and secondary school subject areas, and must provide opportunities for developing partnerships with private financial institutions in order to
provide students with applied money management knowledge and skills. Status—Referred to Subcommittee, 2/04/2002 KENTUCKY H.J.R. 25 Directs the Department of Education to implement the recommendations of the Interim Joint Committee on Education related to economic education. Status—Signed by Governor, Chapter 310, 4/11/2002 MICHIGAN H.B. 5327 Directs the Department of Education to develop a model financial literacy program not later than July 1, 2002. The program must be designed to incorporate financial education throughout the curriculum for grades K to 12. Further, it shall be based on the concept of achieving financial literacy through the teaching of personal financial management skills, founded on the principles of earning, spending, saving and investing. Encourages each school district, local act district, and public school academy to adopt and implement the model programs or similar financial management programs. Specifies that, if federal funds were available for these purposes, then the department shall be required to use those funds for grants to public schools, and for other measures to encourage the implementation of financial management programs. Status—Signed by Governor, Public Act 111, 4/01/2002 H.B. 6121 Creates the Consumer Mortgage Protection Act, which prohibits certain acts in offering to make or making some kinds of mortgage loans (e.g., refinancing loans and home equity loans) and provides for enforcement against violations; requires a lender at the time a person applied for a mortgage loan to provide the borrower with a “bill of rights” and with a written notice about the value of receiving credit counseling before taking out a mortgage loan and a list of the nearest available HUD-approved credit counseling agencies; specifies that the business of brokering, making, servicing and collecting mortgage loans are to be solely regulated by federal and state governments and prohibits and preempts such regulation by municipal corporations or other political subdivisions of the state; and requires that, no later than December 1, 2003, the Office of Financial and Insurance Services develop and make available to local units of government, financial institutions, and other interested parties one or more model programs for financial education. The program must be designed to teach personal financial management skills and the basic principles involved with saving, borrowing, investing and protection against preda- tory and other fraudulent lending practices. Status—Signed by Governor, Public Act 660, 12/30/2002 S.R. 163 Urges Michigan’s public colleges and universities to provide financial responsibility and debt education seminars to all incoming freshmen. Status—Referred to Committee on Appropriations, 2/12/2002 MISSISSIPPI H.B. 185 Requires the state Board of Education to develop a course on personal finance and entrepreneurship to be required of all public high school students graduating in 2007 and thereafter; specifies certain skills to be taught through the course; and authorizes the state Department of Education to utilize available funding to train teachers in entrepreneurship education. Status—Died in Committee, 2/05/2002 MISSOURI H.B. 1200 Requires that every public school secondary student take at least one course in personal finance. The state Board of Education will set minimum standards for the courses, and school districts may exceed the minimum. Status—House Committee Education-Elementary and Secondary, 02/19/2002 H.B. 1973 Directs the Department of Elementary and Secondary Education to conduct a study of economics and personal finance education and submit it to the General Assembly by January 1, 2003. The study must contain recommendations on several topics, among which are in-service training methods for teachers on economics and personal finance, integration of the subjects into the statewide assessments, and requirements for a capstone high school course in economics and personal finance. No state money is to be used in funding the study. Status—Signed by Governor, 7/02/2002 NEW JERSEY S.B. 647 Requires a public institution of higher education to establish a financial management program for its students if the institution enters into an agreement for the direct solicitation of credit cards to its students. The financial management program is to be funded by the credit card issuers and must conform to the guidelines for the program established by the Department of Banking and Insurance. If a student has not successfully completed the financial management program prior to entering a credit card 14 NATIONAL CONFERENCE OF STATE LEGISLATURES
Page 2 and 3: Consumer Debt and Bankruptcy on the
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Page 12 and 13: ARIZONA S.B. 1189 Prohibits the lic
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Page 22 and 23: COLORADO H.J.R. 1069 Encourages edu
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