Bill Text: NY S03040 | 2013-2014 | General Assembly | Amended

---

Bill Title: Provides that juniors and seniors at secondary schools must take a financial literacy and personal finances course.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-02-06 - PRINT NUMBER 3040A [S03040 Detail]

Download: New_York-2013-S03040-Amended.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        3040--A
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 29, 2013
                                      ___________
       Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Education  --  recommitted
         to the Committee on Education in accordance with Senate Rule 6, sec. 8
         --  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    S  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.
                                                                  LBD07708-02-4