Relates to establishing instruction in financial literacy for students in sixth through eighth grade; requires such instruction to include content on budgeting, savings, credit, debt, insurance, investment, and other issues associated with personal financial responsibility as determined by the education department.
STATE OF NEW YORK
________________________________________________________________________
5516
2021-2022 Regular Sessions
IN ASSEMBLY
February 19, 2021
___________
Introduced by M. of A. RICHARDSON -- read once and referred to the
Committee on Education
AN ACT to amend the education law, in relation to establishing instruc-
tion in financial literacy for students in sixth through eighth grade
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 803-c
2 to read as follows:
3 § 803-c. Instruction relating to financial literacy. 1. The department
4 shall require that a school district incorporate in each of the grades
5 six through eight financial literacy instruction for pupils enrolled in
6 such grades. The purpose of such instruction shall be to provide middle
7 school students with the basic financial literacy necessary for sound
8 financial decision-making.
9 2. The instruction shall meet the requirements established by the
10 department and shall:
11 a. be appropriate to, and reflect the age and comprehension of, the
12 students enrolled in the particular grade level; and
13 b. include content on budgeting, savings, credit, debt, insurance,
14 investment, and other issues associated with personal financial respon-
15 sibility as determined by the department.
16 3. The commissioner shall provide school districts with sample
17 instructional materials and resources that may be used to support the
18 implementation of the financial literacy instruction requirement.
19 § 2. This act shall take effect immediately and shall apply to all
20 school years commencing on or after the first of July next succeeding
21 the date upon which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02281-01-1
