Do you support this bill?

Senate Bill S9644

2023-2024 Legislative Session

Establishes a course of study in financial education for certain students

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Education Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

2023-S9644 (ACTIVE) - Details

See Assembly Version of this Bill:
A6217
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §803-c, Ed L
Versions Introduced in 2025-2026 Legislative Session:
S4812, A1337

2023-S9644 (ACTIVE) - Summary

Establishes a half-credit course in financial education delivered by means of a comprehensive financial literacy program for all pupils in grades nine, ten, eleven or twelve.

2023-S9644 (ACTIVE) - Sponsor Memo

2023-S9644 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9644
 
                             I N  S E N A T E
 
                               May 16, 2024
                                ___________
 
 Introduced  by  Sen.  CHU  --  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 a  course
   of study in financial education for certain students
 
   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.  COURSES  OF  STUDY IN FINANCIAL EDUCATION. 1. ALL PUPILS IN
 GRADES NINE, TEN, ELEVEN AND  TWELVE  SHALL  BE  OFFERED  A  HALF-CREDIT
 COURSE  IN  FINANCIAL  EDUCATION  DELIVERED  BY MEANS OF A COMPREHENSIVE
 FINANCIAL LITERACY PROGRAM.
   2. THE COMMISSIONER, IN CONSULTATION WITH THE DEPARTMENT OF  FINANCIAL
 SERVICES, SHALL DEVELOP A CURRICULUM FOR THE STUDY OF FINANCIAL LITERACY
 PURSUANT  TO  SUBDIVISION  ONE  OF  THIS  SECTION. SUCH CURRICULUM SHALL
 INCLUDE, BUT NOT BE LIMITED TO, INSTRUCTION IN THE FOLLOWING:
   A. OPENING AND MAINTAINING AN ACCOUNT AT A FINANCIAL INSTITUTION;
   B. TYPES OF FINANCIAL PRODUCTS OFFERED INCLUDING INSURANCE;
   C. UNDERSTANDING  LOANS  INCLUDING  AUTO  LOANS,  STUDENT  LOANS,  AND
 PERSONAL LOANS;
   D. ON-GOING MONITORING OF EXPENDITURES AND DEPOSITS;
   E.  BASIC  PRINCIPLES  OF  MONEY MANAGEMENT, SUCH AS SPENDING, CREDIT,
 CREDIT SCORES, AND MANAGING DEBT;
   F. TAXES;
   G. COMPUTING INTEREST RATES BY VARIOUS MECHANISMS;
   H. SIMPLE CONTRACTS;
   I. UNDERSTANDING BILLING STATEMENTS;
   J. TYPES OF SAVINGS AND INVESTMENTS;
   K. STATE AND FEDERAL LAWS CONCERNING FINANCE;
   L. FINANCIAL PLANNING; AND
   M. UNDERSTANDING THE PRESENT VALUE OF MONEY.
   § 2. This act shall take effect on the one hundred twentieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of  this act on its effective date are authorized to be made and
 completed on or before such effective date.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.