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Senate Bill S1030

2023-2024 Legislative Session

Establishes instruction in financial literacy for students in sixth through eighth grade

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Archive: Last Bill Status - In Senate Committee Education Committee

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2023-S1030 (ACTIVE) - Details

See Assembly Version of this Bill:
A1557
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §803-c, Ed L
Versions Introduced in Other Legislative Sessions:
2019-2020: S4077, A3497
2021-2022: S1927, A5516, A9652
2025-2026: S6805, A8100

2023-S1030 (ACTIVE) - Summary

Establishes instruction in financial literacy for students in sixth through eighth grade; requires such instruction to include content on budgeting, savings, credit, debt, insurance, investment, and other issues associated with personal financial responsibility as determined by the education department.

2023-S1030 (ACTIVE) - Sponsor Memo

2023-S1030 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1030
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sens. JACKSON, BRESLIN, COONEY, PERSAUD, RAMOS, SALAZAR,
   SEPULVEDA, THOMAS -- 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 literacy for students in sixth through eighth grade

   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 803-c
 to read as follows:
   § 803-C. INSTRUCTION RELATING TO FINANCIAL LITERACY. 1. THE DEPARTMENT
 SHALL REQUIRE THAT A SCHOOL DISTRICT INCORPORATE IN EACH OF  THE  GRADES
 SIX  THROUGH EIGHT FINANCIAL LITERACY INSTRUCTION FOR PUPILS ENROLLED IN
 SUCH GRADES. THE PURPOSE OF SUCH INSTRUCTION SHALL BE TO PROVIDE  MIDDLE
 SCHOOL  STUDENTS  WITH  THE BASIC FINANCIAL LITERACY NECESSARY FOR SOUND
 FINANCIAL DECISION-MAKING.
   2. THE INSTRUCTION SHALL MEET  THE  REQUIREMENTS  ESTABLISHED  BY  THE
 DEPARTMENT AND SHALL:
   A.  BE  APPROPRIATE  TO, AND REFLECT THE AGE AND COMPREHENSION OF, THE
 STUDENTS ENROLLED IN THE PARTICULAR GRADE LEVEL; AND
   B. INCLUDE CONTENT ON BUDGETING,  SAVINGS,  CREDIT,  DEBT,  INSURANCE,
 INVESTMENT,  AND OTHER ISSUES ASSOCIATED WITH PERSONAL FINANCIAL RESPON-
 SIBILITY AS DETERMINED BY THE DEPARTMENT.
   3.  THE  COMMISSIONER  SHALL  PROVIDE  SCHOOL  DISTRICTS  WITH  SAMPLE
 INSTRUCTIONAL  MATERIALS  AND  RESOURCES THAT MAY BE USED TO SUPPORT THE
 IMPLEMENTATION OF THE FINANCIAL LITERACY INSTRUCTION REQUIREMENT.
   § 2. This act shall take effect immediately and  shall  apply  to  all
 school  years  commencing  on or after the first of July next succeeding
 the date upon which it shall have become a law.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03520-01-3

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