Bill Text: NY A04772 | 2019-2020 | General Assembly | Amended

Bill Title: Requires instruction in financial management for all students in grades four through eight.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-06-13 - print number 4772a [A04772 Detail]

Download: New_York-2019-A04772-Amended.html

                STATE OF NEW YORK


                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                    February 5, 2019

        Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
          Committee on Education -- committee discharged, bill amended,  ordered
          reprinted as amended and recommitted to said committee

        AN  ACT to amend the education law, in relation to instruction in finan-
          cial management

          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 817 to
     2  read as follows:
     3    §  817.  Courses  of  study  in  financial  management.  1. All school
     4  districts in the state shall be authorized  to  provide,  to  pupils  in
     5  grades  four  through eight, instruction in financial management includ-
     6  ing, but not limited to, basic financial literacy  necessary  for  sound
     7  financial  decision-making, budgeting, savings, credit, debt, insurance,
     8  investment, and other issues associated with personal financial  respon-
     9  sibility.  The  commissioner  shall  establish and define such financial
    10  management program in regulations. Nothing in this section shall prevent
    11  the department from  making  model  curriculum  and  resource  materials
    12  available on the department's website.
    13    2. The commissioner shall provide technical assistance in the develop-
    14  ment of curricula for such courses of study which shall be age appropri-
    15  ate  and  developed  according  to  the needs and abilities of pupils at
    16  successive grade levels  in  order  to  provide  pupils  with  financial
    17  management skills.
    18    §  2.  This act shall take effect on the first of July next succeeding
    19  the date on which it shall have become a law. Effective immediately, the
    20  addition, amendment and/or repeal of any rule  or  regulation  necessary
    21  for  the implementation of this act on its effective date are authorized
    22  to be made and completed on or before such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.