senate Bill S5827B

2021-2022 Legislative Session

Requires senior high schools to provide a course in financial literacy and requires students to complete such course as a condition of graduation

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Education Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 26, 2022 print number 5827b
Apr 26, 2022 amend and recommit to education
Jan 05, 2022 referred to education
May 13, 2021 print number 5827a
May 13, 2021 amend (t) and recommit to education
Mar 19, 2021 referred to education

S5827 - Details

See Assembly Version of this Bill:
A7220
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §802-b, Ed L
Versions Introduced in Other Legislative Sessions:
2009-2010: S6345
2011-2012: S1525
2013-2014: S3040
2015-2016: S2899
2017-2018: S8460
2019-2020: S2400

S5827 - Summary

Requires senior high schools to provide a course in financial literacy; requires students to complete such course as a condition of graduation.

S5827 - Sponsor Memo

S5827 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5827
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 19, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- 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  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:
 
   Section 1. Section 305 of the education law is amended by adding a new
 subdivision 57 to read as follows:
   57. THE COMMISSIONER IS AUTHORIZED AND DIRECTED TO DEVELOP  A  CONCISE
 COURSE  OF  INSTRUCTION IN FINANCIAL LITERACY AND PERSONAL FINANCES, AND
 REQUIRE THAT SUCH COURSE BE COMPLETED BY PUPILS  IN  GRADES  ELEVEN  AND
 TWELVE.  SUCH COURSE OF INSTRUCTION MAY BE INCORPORATED INTO OTHER CLASS
 WORK OR COURSES OF INSTRUCTION PROVIDED TO SUCH  PUPILS.  THE  FINANCIAL
 LITERACY  COURSE  MAY INCLUDE, BUT NEED NOT BE LIMITED TO INSTRUCTION ON
 USING CHECKING AND SAVINGS ACCOUNTS, OBTAINING SHORT OR LONG TERM  CRED-
 IT,  SECURING  A  LOAN  FOR HIGH COST ITEMS SUCH AS A MOTOR VEHICLE OR A
 HOME, OBTAINING AND USING CREDIT AND DEBIT CARDS, INVESTING  AND  SAVING
 MONEY, AND PLANNING FOR RETIREMENT.
   §  2.  This  act  shall  take  effect on the first of September in the
 calendar year commencing after the date it  shall  have  become  a  law.
 Effective immediately, the addition, amendment and/or repeal of any rule
 or regulation necessary for the implementation of this act on its effec-
 tive  date  are  authorized  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.
                                                            LBD09527-01-1


Co-Sponsors

S5827A - Details

See Assembly Version of this Bill:
A7220
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §802-b, Ed L
Versions Introduced in Other Legislative Sessions:
2009-2010: S6345
2011-2012: S1525
2013-2014: S3040
2015-2016: S2899
2017-2018: S8460
2019-2020: S2400

S5827A - Summary

Requires senior high schools to provide a course in financial literacy; requires students to complete such course as a condition of graduation.

S5827A - Sponsor Memo

S5827A - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5827--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 19, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed 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 requiring senior high
   schools to provide  a  course  in  financial  literacy  and  requiring
   students to complete such course as a condition of graduation
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The education law is amended by adding a new section  802-b
 to read as follows:
   §  802-B.  INSTRUCTION  RELATING TO FINANCIAL LITERACY. 1. THE COMMIS-
 SIONER IS HEREBY DIRECTED TO PROVIDE AND PRESCRIBE A COURSE OF  INSTRUC-
 TION  ON  FINANCIAL LITERACY FOR SENIOR HIGH SCHOOL STUDENTS WHICH SHALL
 INCLUDE, BUT NOT BE LIMITED TO THE TEACHING OF PERSONAL BUDGETING, WAGES
 AND TAXES, SELF-EMPLOYMENT, SAVINGS AND INVESTMENTS (STOCKS,  BONDS  AND
 MUTUAL  FUNDS), DEBT MANAGEMENT, CHECKING ACCOUNTS, CREDIT CARDS, CREDIT
 SCORES, SAVING FOR EDUCATION AND RETIREMENT, INSURANCE, RIGHTS AND OBLI-
 GATIONS AS A TENANT, BASIC CONCEPTS ON BORROWING INCLUDING THE  PURCHAS-
 ING  OF  AUTOMOBILES AND HOMES, BENEFITS AND DRAWBACKS OF LEASING AND/OR
 PURCHASING OF AUTOMOBILES, AND THE BENEFITS  AND  DRAWBACKS  OF  RENTING
 AND/OR  PURCHASING  A  HOME.  THE  COURSE SHALL BE TAUGHT ON A PASS/FAIL
 BASIS AND SHALL NOT AFFECT THE STUDENT'S GRADE POINT AVERAGE.
   2. SCHOOL AUTHORITIES SHALL PROVIDE THE NEEDED  FACILITIES,  TIME  AND
 PLACE  FOR  THE  INSTRUCTION SET FORTH IN THIS SECTION AND SHALL PROVIDE
 LEARNING AIDS AND CURRICULUM  RESOURCE  MATERIALS  WHICH  CONTRIBUTE  TO
 EFFECTIVE TEACHING METHODS AND LEARNING.
   3.  AS  A  CONDITION  OF GRADUATION FROM SENIOR HIGH SCHOOL, A STUDENT
 SHALL ATTEND AND PASS THE COURSE ON FINANCIAL LITERACY; PROVIDED, HOWEV-
 ER, THAT WITH RESPECT TO STUDENTS WHO HAVE INDIVIDUAL  EDUCATION  PLANS,
 THE  COMPLETION OF SUCH COURSE SHALL NOT BE A REQUIREMENT FOR GRADUATION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

S5827B (ACTIVE) - Details

See Assembly Version of this Bill:
A7220
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §802-b, Ed L
Versions Introduced in Other Legislative Sessions:
2009-2010: S6345
2011-2012: S1525
2013-2014: S3040
2015-2016: S2899
2017-2018: S8460
2019-2020: S2400

S5827B (ACTIVE) - Summary

Requires senior high schools to provide a course in financial literacy; requires students to complete such course as a condition of graduation.

S5827B (ACTIVE) - Sponsor Memo

S5827B (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5827--B
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 19, 2021
                                ___________
 
 Introduced  by  Sens.  COMRIE, COONEY -- read twice and ordered printed,
   and when printed to be committed to  the  Committee  on  Education  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee  --  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 senior  high
   schools  to  provide  a  course  in  financial  literacy and requiring
   students to complete such course as a condition of graduation
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The education law is amended by adding a new section 802-b
 to read as follows:
   § 802-B. INSTRUCTION RELATING TO FINANCIAL LITERACY.  1.  THE  COMMIS-
 SIONER  IS HEREBY DIRECTED TO PROVIDE AND PRESCRIBE A COURSE OF INSTRUC-
 TION ON FINANCIAL LITERACY FOR SENIOR HIGH SCHOOL STUDENTS  WHICH  SHALL
 INCLUDE, BUT NOT BE LIMITED TO THE TEACHING OF PERSONAL BUDGETING, WAGES
 AND  TAXES,  SELF-EMPLOYMENT, SAVINGS AND INVESTMENTS (STOCKS, BONDS AND
 MUTUAL FUNDS), DEBT MANAGEMENT, CHECKING ACCOUNTS, CREDIT CARDS,  CREDIT
 SCORES, SAVING FOR EDUCATION AND RETIREMENT, INSURANCE, RIGHTS AND OBLI-
 GATIONS  AS A TENANT, BASIC CONCEPTS ON BORROWING INCLUDING THE PURCHAS-
 ING OF AUTOMOBILES AND HOMES, BENEFITS AND DRAWBACKS OF  LEASING  AND/OR
 PURCHASING  OF  AUTOMOBILES,  AND  THE BENEFITS AND DRAWBACKS OF RENTING
 AND/OR PURCHASING A HOME. THE COURSE SHALL  BE  TAUGHT  ON  A  PASS/FAIL
 BASIS AND SHALL NOT AFFECT THE STUDENT'S GRADE POINT AVERAGE.
   2.  SCHOOL  AUTHORITIES  SHALL PROVIDE THE NEEDED FACILITIES, TIME AND
 PLACE FOR THE INSTRUCTION SET FORTH IN THIS SECTION  AND  SHALL  PROVIDE
 LEARNING  AIDS  AND  CURRICULUM  RESOURCE  MATERIALS WHICH CONTRIBUTE TO
 EFFECTIVE TEACHING METHODS AND LEARNING.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09527-04-2
 S. 5827--B                          2

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