STATE OF NEW YORK
________________________________________________________________________
7220--A
2021-2022 Regular Sessions
IN ASSEMBLY
April 29, 2021
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Introduced by M. of A. JACOBSON, TAYLOR -- read once and referred to the
Committee on Education -- recommitted to the Committee on Education in
accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the education law, in relation to requiring senior high
schools to provide a course in financial literacy and requiring
students to complete such course as a condition of graduation
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 802-b
2 to read as follows:
3 § 802-b. Instruction relating to financial literacy. 1. The commis-
4 sioner is hereby directed to provide and prescribe a course of instruc-
5 tion on financial literacy for senior high school students which shall
6 include, but not be limited to the teaching of personal budgeting, wages
7 and taxes, self-employment, savings and investments (stocks, bonds and
8 mutual funds), debt management, checking accounts, credit cards, credit
9 scores, saving for education and retirement, insurance, rights and obli-
10 gations as a tenant, basic concepts on borrowing including the purchas-
11 ing of automobiles and homes, benefits and drawbacks of leasing and/or
12 purchasing of automobiles, and the benefits and drawbacks of renting
13 and/or purchasing a home. The course shall be taught on a pass/fail
14 basis and shall not affect the student's grade point average.
15 2. School authorities shall provide the needed facilities, time and
16 place for the instruction set forth in this section and shall provide
17 learning aids and curriculum resource materials which contribute to
18 effective teaching methods and learning.
19 3. As a condition of graduation from senior high school, a student
20 shall attend and pass the course on financial literacy; provided, howev-
21 er, that with respect to students who have individual education plans,
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10803-04-2
A. 7220--A 2
1 the completion of such course shall not be a requirement for graduation
2 if it is not specifically included as a requirement in the student's
3 individual education plan recommended by the school district committee
4 on the handicapped and such student is a student with a disability, as
5 defined in section forty-four hundred one of this chapter.
6 § 2. This act shall take effect on the first of July next succeeding
7 the date on which it shall have become a law.
