Bill Text: HI SB2407 | 2024 | Regular Session | Introduced
Bill Title: Relating To Education.
Spectrum: Strong Partisan Bill (Democrat 12-1)
Status: (Introduced) 2024-01-22 - Referred to EDU, WAM. [SB2407 Detail]
Download: Hawaii-2024-SB2407-Introduced.html
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THE SENATE |
S.B. NO. |
2407 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to education.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
Presently, seven in ten adults in the State are considered "financially unhealthy". The lack of financial literacy poses a significant barrier for individuals seeking to achieve financial prosperity and stability. Personal financial education is essential to ensure that Hawaii's youth are prepared to manage money, credit, and debt, and to become responsible workers, heads of households, investors, entrepreneurs, business leaders, and citizens. It is of the utmost importance to educate Hawaii's youth in economic and financial matters to prepare them for financial independence through the development of fiscal responsibility and financial management skills.
Accordingly, the purpose of this Act is to require the department of education to include the teaching of financial literacy for grades nine through twelve.
SECTION 2. Chapter 302A, Hawaii Revised Statutes, is amended by adding a new section to part II, subpart B, to be appropriately designated and to read as follows:
"§302A- Financial literacy; curricula plan; public
schools. (a) The department shall develop and implement a
statewide financial literacy curricula plan for public school students in grades
nine through twelve. The department
shall review and determine into which courses personal financial literacy shall
be integrated.
(b) Beginning with the 2025-2026 school year,
instruction shall be provided in financial literacy in all public schools for
students in grades nine through twelve.
All students in grades nine through twelve shall be required to complete
one course in financial literacy and a passing grade in the course shall be
required for graduation. The curriculum shall include, at a minimum, standards established
by the second edition of the Voluntary National Content Standards in Economics
and the 2013 Standards for Financial Literacy, as developed by the council for
economic education. Curriculum
shall include but is not limited to the following:
(1) Basic budgeting and financial planning;
(2) Saving, financial investments, and
career management;
(3) Banking and financial services,
including online banking services and balancing a checkbook or bank account;
(4) Federal, state, and local taxes;
(5) Borrowing money for a home mortgage,
automobile, or other large purchase;
(6) Loans, including interest, credit
card debt, predatory lending, and payday loans;
(7) Rights
and responsibilities of renting or buying a home;
(8) Retirement planning;
(9) Credit scoring and credit reports;
(10) Insurance;
(11) Charitable
giving;
(12) Bankruptcy;
(13) Identity theft and fraud;
(14) Negative financial consequences of
gambling;
(15) Planning and paying for
postsecondary education;
(16) Economic principles; and
(17) Other relevant financial literacy
issues.
(c) The board shall provide teachers with professional
development to teach financial literacy courses. The board shall determine a list of approved
courses and providers who offer professional development in financial
literacy. Teachers shall complete
financial literacy professional development before teaching financial literacy
courses in public schools.
In
addition to professional development courses, the board may offer to teachers:
(1) A statewide learning community for
financial and economic literacy;
(2) Summer workshops; and
(3) Online videos of experts in the
field of financial literacy education.
(d) The board may consult with
other public agencies and private or nonprofit organizations to:
(1) Identify online resources for
financial and economic literacy education, including interactive activities and
curriculum readily available for teachers;
(2) Coordinate the use of existing
financial literacy education resources;
(3) Develop simple, clear, and
consistent messaging to reinforce and utilize existing financial literacy
resources; and
(4) Coordinate the efforts of the department, public agencies, and private or nonprofit organizations to implement methods of appropriate grade-level communication to students, teachers, and parents on financial literacy.
(e) The board shall adopt rules in accordance
with chapter 91 for the purposes of integrating financial literacy education
into curriculum plans for department schools.
The board shall review, and make any necessary adjustments to, the
financial literacy curricula plan at least once every three years."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
BOE; DOE; Financial Literacy; Curriculum; 9-12 Coursework; Professional Development; Rules
Description:
Beginning with the 2025-2026 school year, requires the Department of Education to include the teaching of financial literacy in grades nine through twelve. Requires students in grades nine through twelve to complete one course in financial literacy before graduation. Requires the Board of Education to provide professional development to teachers who are teaching financial literacy courses. Requires the Board of Education to adopt administrative rules to implement financial literacy education curriculum and regularly review the financial literacy curricula plan. Authorizes the Board of Education to consult with other state and county agencies, private entities, and nonprofit organizations to disseminate information on financial literacy education resources.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
