Bill Text: NY S09378 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires the commissioner of education to develop and adopt instruction in financial and insurance literacy for students in grades nine through twelve.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-05-14 - REFERRED TO EDUCATION [S09378 Detail]

Download: New_York-2023-S09378-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9378

                    IN SENATE

                                      May 14, 2024
                                       ___________

        Introduced  by Sen. MARTINEZ -- read twice and ordered printed, and when
          printed to be committed to the Committee on Education

        AN ACT to amend the education law, in relation to establishing  instruc-
          tion in financial and insurance literacy

          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 819 to
     2  read as follows:
     3    § 819. Instruction in financial and insurance literacy. 1. The commis-
     4  sioner shall develop and adopt curriculum standards for  instruction  in
     5  financial and insurance literacy to be completed by students enrolled in
     6  secondary  school.  Upon  the effective date of this section, each local
     7  board of education shall require all students  in  grades  nine  through
     8  twelve, as a condition of graduation, to complete at least a half-credit
     9  course  in financial and insurance literacy which implements the minimum
    10  course of instruction standards established pursuant to this section.
    11    2. Such standards shall include but not be limited to  instruction  in
    12  core  competencies  of money management and investment and basic princi-
    13  ples of  personal  insurance  policies  and  retirement  planning.  Such
    14  instruction  may  be  provided  in  the  context  of existing coursework
    15  offered by a local school system and shall be eligible to count toward a
    16  mathematics, social studies or elective unit of credit  requirement  for
    17  graduation.  Subject  to state-appropriated funding, local school boards
    18  may provide a unit of study related to financial and insurance  literacy
    19  separate from existing coursework.
    20    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15531-01-4