STATE OF NEW YORK
________________________________________________________________________
4142--A
2013-2014 Regular Sessions
IN ASSEMBLY
February 1, 2013
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Introduced by M. of A. HEASTIE, CRESPO, JAFFEE, ROBINSON, BRAUNSTEIN,
BOYLAND -- Multi-Sponsored by -- M. of A. ARROYO, DINOWITZ, MILLMAN,
THIELE -- 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 committee
AN ACT to amend the education law, in relation to requiring secondary
school students to complete a financial literacy and personal finances
course
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 305 of the education law is amended by adding a new
2 subdivision 44 to read as follows:
3 44. The commissioner is authorized and directed to develop a concise
4 course of instruction in financial literacy and personal finances, and
5 require that such course be completed by pupils in grades eleven and
6 twelve. Such course of instruction may be incorporated into other class
7 work or courses of instruction provided to such pupils. The financial
8 literacy course may include, but need not be limited to instruction on
9 using checking and savings accounts, obtaining short or long term cred-
10 it, securing a loan for high cost items such as a motor vehicle or a
11 home, obtaining and using credit and debit cards, investing and saving
12 money, and planning for retirement.
13 § 2. This act shall take effect on the first of September in the
14 calendar year commencing after the date it shall have become a law; and
15 the commissioner of education is immediately authorized and directed to
16 promulgate, amend and/or repeal any rules and regulations necessary to
17 implement the provisions of this act on its effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07708-03-4
