Assembly Bill A5052

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5052
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 11, 2025
                                ___________
 
 Introduced by M. of A. JACOBSON, TAYLOR, CRUZ, ZINERMAN, RAGA, SANTABAR-
   BARA,  LEVENBERG,  CUNNINGHAM, VANEL, WOERNER, EPSTEIN, HUNTER, GIBBS,
   REYES, MEEKS, R. CARROLL, RAMOS, SHIMSKY -- read once and referred  to
   the Committee on Education
 
 AN ACT to amend the education law, in relation to requiring 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  HIGH  SCHOOL  STUDENTS  IN  GRADES  NINE
 THROUGH  TWELVE  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  RETIRE-
 MENT,  INSURANCE,  RIGHTS AND OBLIGATIONS AS A TENANT, BASIC CONCEPTS ON
 BORROWING INCLUDING THE PURCHASING OF AUTOMOBILES  AND  HOMES,  BENEFITS
 AND DRAWBACKS OF LEASING AND/OR PURCHASING OF AUTOMOBILES, AND THE BENE-
 FITS 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 HIGH SCHOOL, A STUDENT SHALL
 ATTEND AND PASS THE COURSE ON  FINANCIAL  LITERACY;  PROVIDED,  HOWEVER,
 THAT  WITH  RESPECT TO STUDENTS WHO HAVE INDIVIDUAL EDUCATION PLANS, THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00708-01-5
              

 A. 5052                             2
 
 COMPLETION OF SUCH COURSE SHALL NOT BE A REQUIREMENT FOR  GRADUATION  IF
 IT  IS NOT SPECIFICALLY INCLUDED AS A REQUIREMENT IN THE STUDENT'S INDI-
 VIDUAL EDUCATION PLAN RECOMMENDED BY THE SCHOOL  DISTRICT  COMMITTEE  ON
 THE  HANDICAPPED  AND  SUCH  STUDENT  IS A STUDENT WITH A DISABILITY, AS
 DEFINED IN SECTION FORTY-FOUR HUNDRED ONE OF THIS CHAPTER.
   § 2. This act shall take effect on the first of July  next  succeeding
 the date on which it shall have become a law.