S T A T E O F N E W Y O R K
________________________________________________________________________
6345
2009-2010 Regular Sessions
I N S E N A T E
December 16, 2009
___________
Introduced by Sen. KLEIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the education law, in relation to requiring that second-
ary school students and students enrolled at the state university of
New York or the city university of New York complete a financial
literacy course
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 305 of the education law is amended by adding a new
subdivision 42 to read as follows:
42. THE COMMISSIONER IS AUTHORIZED AND DIRECTED TO DEVELOP A COURSE OR
COURSES IN FINANCIAL LITERACY AND REQUIRE THAT A COURSE IN FINANCIAL
LITERACY BE COMPLETED BY JUNIORS OR SENIORS IN SECONDARY SCHOOLS AND
STUDENTS ENROLLED AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY
UNIVERSITY OF NEW YORK IN ORDER TO GRADUATE. THE COURSE SHALL INCLUDE,
BUT SHALL NOT BE LIMITED TO INSTRUCTION ON OBTAINING AND USING CREDIT
AND CREDIT CARDS, INVESTING, SAVING, AND PLANNING FOR RETIREMENT.
S 2. This act shall take effect immediately and the commissioner of
education is immediately authorized and directed to promulgate, amend
and/or repeal any rules and regulations necessary to 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.
LBD08905-01-9