Financial Literacy 2019 Legislation

Heather Morton 6/13/2019

The financial world that consumers must navigate has changed significantly and grown more complex, increasing the need for financial literacy and raising questions regarding consumers’ financial capability.

Financial termsFinancial literacy focuses on the specific knowledge and concepts consumers need to manage their money and build wealth, depending on an individual’s situation. It may mean learning how to create and manage a household budget, learning how to invest money for retirement, or participating in one-on-one coaching and counseling to determine how to buy a house or start a business. It also can be part of an overall strategy to increase economic security for lower-income families.

Financial literacy is one factor in the larger analysis of the financial capability of consumers, which is the broader picture of how consumers manage their resources and how they use their financial literacy to make financial decisions.

Forty states, the District of Columbia and Puerto Rico have pending financial literacy legislation in the 2019 legislative session.

Arizona enacted legislation directing the State Board of Education to require at least a one-half course credit in economics, which includes financial literacy and personal financial management, for high school graduation. Colorado created the college kickstarter account program to incentivize the creation of a college savings account for every child born in Colorado. If, in the sole discretion of the state treasurer, adequate gifts, grants, and donations are received, the kickstarter program may include a free program for financial literacy education for eligible children and their parent or parents and other family members. Iowa enacted legislation to require financial literacy as a condition of graduation under the State Educational Standards.

Kentucky established the Financial Empowerment Commission. Louisiana required instruction to include information relating to student loan borrowing in its personal financial management for public school students. Montana revised the State Bank Act; changing the definition of a student financial institution and the requirements for operation of a student financial institution by a financial institution. Nebraska enacted legislation changing the name of the Committee on Americanism to the Committee on American Civics and providing duties for the State Board of Education and the State Department of Education. The committee must examine and ensure that the social studies curriculum used in the district is aligned with the social studies standards adopted pursuant to §79-760.01 and teaches foundational knowledge in civics, history, economics, financial literacy and geography.

Nevada established a State Seal of Financial Literacy, required the Department of Education to establish a Financial Literacy Month, established the State Financial Literacy Advisory Council, and established provisions relating to obtaining an endorsement to teach courses relating to financial literacy. New Jersey required financial literacy instruction to pupils enrolled in grades kindergarten through eight. South Dakota established provisions regarding the Opportunity Scholarship Program; providing eligibility and participation requirements, including one-half unit of personal finance or economics. Texas expanded the curriculum for the experiential life skills training provided for youth in foster care to include certain aspects of a financial literacy education. Utah amended provisions related to financial and economic literacy education. The legislation amends the definition of "financial and economic literacy concepts"; amends provisions related to standards related to financial literacy; repeals and reenacts provisions related to a general financial literacy course and professional development related to financial literacy education; repeals provisions related to a financial and economic literacy passport; and amends provisions related to the convening of a task force.

Illinois, Pennsylvania, Rhode Island and Texas declared April 2019 as Financial Literacy Month. Michigan declared March 30-April 6, 2019, as Money Smart Week and April 21-29, 2019, as Financial Literacy Week in the state of Michigan. Tennessee designated the week beginning on the first Sunday in April as Financial Literacy Week in Tennessee.

Financial Literacy 2019 Legislation
State: Bill Number: Bill Summary:
Alabama None  
Alaska None  
Arizona HB 2354

Authorizes the governing board of a school district to approve a financial literacy course that would fulfill a mathematics course required for graduation from high school.

Arizona

HB 2618
Failed to pass House 5/27/19

Appropriates the sum of $500,000 from the consumer protection-consumer fraud revolving fund established by §44-1531.01 in fiscal year 2019-2020 to the attorney general to distribute to a facility-based nonprofit youth development organization to implement programs that teach financial literacy.

Arizona

SB 1184
Signed by governor 4/11/19, Chapter 84

Directs the State Board of Education (SBE) to require at least a one-half course credit in economics, which includes financial literacy and personal financial management, for high school graduation.

Arizona SB 1359

Authorizes damages for erroneous convictions. In addition to the damages awarded pursuant to subsection f of this section, the claimant: 1. Is entitled to receive reasonable attorney fees and costs incurred in the action of not more than $25,000, unless the court authorizes a greater reasonable total on a finding of good cause shown. 2. May be awarded other nonmonetary relief as sought in the complaint, including counseling, housing assistance and personal financial literacy assistance, as appropriate. 3. Is entitled to receive tuition assistance pursuant to §31-622. 4. Is entitled to participate in this state's employee health insurance benefits program, and this state shall pay one hundred percent of the costs.

Arkansas None  
California

AB 718
Passed Assembly 5/23/19

Existing law establishes the jurisdiction of the juvenile court, which is permitted to adjudge certain children to be dependents of the court under certain circumstances and prescribes various hearings and other procedures for these purposes. Existing law prohibits the court from terminating dependency jurisdiction over a nonminor who has reached 18 years of age until a hearing is conducted and the county welfare department has submitted a report verifying that specified information, documents, and services have been provided to the nonminor. This bill revises and recasts these provisions to, among other things, require the county welfare department to submit reports at the first regularly scheduled review hearing after a dependent child has attained 16 years of age and at the last regularly scheduled review hearing before a dependent child attains 18 years of age, and at every regularly scheduled review hearing thereafter, verifying that the county has provided certain of the above-described information, documents, and services, and additional financial literacy information, to the child.

California AB 1087

This bill establishes the California Financial Literacy Initiative as a program for improving financial literacy by offering instructional materials for teachers and parents to provide high-quality financial literacy education for pupils in kindergarten and grades 1 to 12, inclusive. The bill provides that the initiative would be under the administration of the superintendent of Public Instruction. The bill authorizes the superintendent to convene a Financial Literacy Advisory Committee to review materials that could be provided on the internet in a centralized location for access by local educational agencies, as specified. The bill requires online curricula included in an online library, or otherwise promoted or made available, through this initiative to conform to specified provisions protecting pupil privacy and protecting pupils against marketing directed at them through instructional materials.

California AB 1647

Existing law expresses findings and declarations of the Legislature regarding financial literacy in the state. Existing law expresses the intent of the Legislature to enact legislation that would result in the education of all Californians regarding the prospect of becoming an “aging” state, including education as to, among other subjects, the importance of saving and financial planning. This bill revises the findings and declarations to delete specific references to “boomers,” and adds the importance of estate planning to the subjects, as described above.

California

SB 39
Passed Senate 5/2/19

Creates a pretrial diversion program for defendants who are primary caregivers of a minor child, as specified, and who are charged with a misdemeanor or a nonserious, nonviolent felony. The bill requires the defendant to participate in classes relating to subjects that may include parenting, anger management, and financial literacy, and to receive services relating to housing, employment, and drug, alcohol, and mental health treatment, among others.

California

SB 455
Passed Senate 5/23/19

This bill, until July 1, 2024, appropriates $1 million annually from specified enforcement moneys collected by the Department of Business Oversight, and requires the department to provide grants from those moneys to specified nonprofits for financial education and financial empowerment programs and services to unbanked and underbanked populations in the state. The bill establishes the Financial Empowerment Fund in the state treasury and continuously appropriates the moneys in the fund to the department for purposes of the program.

Colorado

HB 1094
Failed to pass House 2/12/19

Adds basic life skills education to the list of courses for which public schools provide internet links to the Department of Education as part of the performance report, includes financial literacy curriculum.

Colorado

HB 1280
Signed by governor 5/10/19, Chapter 158

Creates the college kickstarter account program to incentivize the creation of a college savings account for every child born in Colorado. If, in the sole discretion of the state treasurer, adequate gifts, grants, and donations are received, the kickstarter program may include a free program for financial literacy education for eligible children and their parent or parents and other family members. The state treasurer shall develop and administer any program for financial literacy education included in the kickstarter program.

Colorado

SB 173
Signed by governor 5/20/19

Concerns the creation of the Secure Savings Plan Board to study appropriate approaches to increase the amount of retirement savings by private sector workers. Requires the board to assess the effects that greater financial education among Colorado’s residents would have on increasing their retirement savings, including: (a) the underlying causes for Coloradans not saving enough for retirement, the number of Coloradans that would increase the amount of their retirement savings, and the amount of increase in retirement savings related to the effects of greater financial education; (b) the demographics of the Coloradans that would increase the amount of their retirement savings related to the effects of greater financial education; (c) the type of financial education that is most likely to result in an increase in the amount of Coloradans' retirement savings; and (d) the providers of financial education that are most likely to have the greatest effect on increasing the amount of Coloradans' retirement savings.

Connecticut

HB 6625
Failed Joint Favorable deadline 4/1/19

Amends §10-221a of the general statutes to include as part of the high school graduation requirements a course in financial literacy, which may include, but not be limited to, an understanding of checking and savings accounts, loans, mortgages, credit cards, annual percentage rates, compound interest, budgeting, stocks and other financial instruments.

Connecticut

SB 852
Failed Joint Favorable deadline 5/3/19

Includes personal financial management in the public school curriculum and to establish a pilot program for the teaching of personal financial management in certain school districts.

Delaware None  
District of Columbia B23-244

Amends the Financial Literacy Council Establishment Act to establish a financial literacy education program.

Florida

HB 73
Died in committee 5/3/19

Relates to high school graduation requirements; designates the act as the Dorothy L. Hukill Financial Literacy Act; revises the requirements for the Next Generation Sunshine State Standards to include financial literacy; revises the required credits for a standard high school diploma to include one-half credit of instruction in personal financial literacy and money management and seven and one-half, Rather than eight, credits in electives.

Florida

HB 661
Died in committee 5/3/19

Relates to alternative high school graduation requirements; specifies that students must complete 3.5 credits in social studies. A student must earn one credit in U.S. History; one credit in World History; one-half credit in economics; one-half credit in financial literacy; and one-half credit in U.S. Government.

Florida

HB 705
Died in committee 5/3/19

Designates act the "Florida First Step Act"; requires the Department of Corrections to provide inmates with community reentry resource directory. Authorizes a nonprofit faith-based business and professional, civic, or community organization may apply for registration with the department to provide inmate reentry services. Reentry services include, but are not limited to, counseling; providing information on housing and job placement; money management assistance; and programs addressing substance abuse, mental health, or co-occurring conditions.

Florida

HB 953
Died in committee 5/3/19

Requires the Department of Corrections to provide inmates with community reentry resource directory. Authorizes a nonprofit faith-based business and professional, civic, or community organization may apply for registration with the department to provide inmate reentry services. Reentry services include, but are not limited to, counseling; providing information on housing and job placement; money management assistance; and programs addressing substance abuse, mental health, or co-occurring conditions.

Florida

HB 2263
Died in committee 5/4/19

Provides an appropriation for the Worldwide Community Alliance - Financial Literacy Training for Youth and Parents.

Florida

HB 3693
Indefinitely postponed 5/4/19

Provides an appropriation for the United Way of Florida - Financial Literacy and Prosperity Program.

Florida

HB 7071
Enrolled 5/2/19

Revises provisions relating to preapprenticeship and apprenticeship programs, secondary and postsecondary workforce education, high school graduation requirements, and postsecondary education provisions, and school grades; revises Next Generation Sunshine State Standards for financial literacy; removing financial literacy standards as a component of economics; requiring school districts to offer one-half credit in financial literacy as an elective.

Florida

HB 7125
Enrolled 5/2/19

Requires the Department of Corrections to provide inmates with community reentry resource directory. Authorizes a nonprofit faith-based business and professional, civic, or community organization may apply for registration with the department to provide inmate reentry services. Reentry services include, but are not limited to, counseling; providing information on housing and job placement; money management assistance; and programs addressing substance abuse, mental health, or co-occurring conditions.

Florida

SB 114
Died on calendar 5/3/19

Relates to high school graduation requirements; designates the act as the Dorothy L. Hukill Financial Literacy Act; revises the requirements for the Next Generation Sunshine State Standards to include financial literacy; revises the required credits for a standard high school diploma to include one-half credit of instruction in personal financial literacy and money management and seven and one-half, Rather than eight, credits in electives.

Florida

SB 642
Laid on table 5/1/19

Requires the Department of Corrections to provide inmates with community reentry resource directory. Authorizes a nonprofit faith-based business and professional, civic, or community organization may apply for registration with the department to provide inmate reentry services. Reentry services include, but are not limited to, counseling; providing information on housing and job placement; money management assistance; and programs addressing substance abuse, mental health, or co-occurring conditions.

Florida

SB 770
Laid on table 5/2/19

Relates to alternative high school graduation requirements; provides that, as of a specified school year, certain students are eligible for an alternative pathway to a standard high school diploma through the Career and Technical Education pathway option; provides requirements for the CTE pathway option. Revises the social studies standards for the Next Generation Sunshine State Standards to include financial literacy as a separate subject; requires all school districts, beginning with a specified school year, to offer a financial literacy course as an elective.

Florida

SB 834
Died in committee 5/3/19

Authorizes a defendant who is found guilty of committing a nonviolent offense to request a sentencing court to withhold sentencing until after making a certain determination; requires the court to make certain written findings if the defendant makes such a motion, which must meet specified requirements, includes obtaining financial education, etc.

Georgia HB 169

Amends Part 2 of Article 6 of Chapter 2 of Title 20 of the Official Code of Georgia Annotated, relating to competencies and core curriculum relative to quality basic education, so as to provide for a course of study in financial education for students in kindergarten through grade five, grades six through eight, and grades nine through 12; provides for a definition.

Georgia HB 496

Amends Part 2 of Article 6 of Chapter 2 of Title 20 of the Official Code of Georgia Annotated, relating to competencies and core curriculum, so as to require a course of study in personal financial literacy and money management in middle school and in high school.

Guam Not available  
Hawaii SB 1074

Requires check cashers to register with the department of commerce and consumer affairs. Requires check cashers to offer customers the option to participate in a payment plan, if certain conditions are met. Specifies that any person who cashes one or more checks for a fee shall offer a financial education program or seminar to the customer that has been previously reviewed and approved by the director for use in complying with this section; provided that any financial education program or seminar offered under this subparagraph shall be provided at no cost to the customer. A customer shall not be required to participate in a financial education program or seminar as a condition of a deferred deposit transaction proceeds disbursement.

Idaho SB 1095

Adds to existing law to establish provision regarding an employment training program for persons with income at or below a specified percentage of the federal poverty level and for persons formerly receiving public assistance. Includes attending a financial literacy or health coaching program offered by a qualified nonprofit organization identified by the department.

Illinois

HB 2237
Passed both houses 5/29/19

Amends the State Treasurer Act. Provides that the state treasurer shall establish the Illinois Higher Education Savings Program for the purpose of expanding access to higher education through savings. Provides that the state treasurer may develop educational materials that support the financial literacy of beneficiaries and their legal guardians and may do so in collaboration with state and federal agencies, including, but not limited to, the Illinois State Board of Education and existing nonprofit agencies with expertise in financial literacy and education.

Illinois HB 2469

Provides that, beginning with the 2019-2020 school year, each school district that maintains grade 9 must include in its curriculum and require all ninth-grade students to take a unit of instruction on home economics that includes, but is not limited to, instruction on family finance, wellness, personal hygiene, food preparation, and nutrition.

Illinois HB 3125

Amends the School Code. Provides that, beginning with the 2019-2010 school year, each school district maintaining any of grades 6 through 8 must include in its curriculum and require students in those grades to take a unit of instruction on financial literacy. Provides that the purpose of the instruction is to provide students with the basic financial literacy necessary for sound financial decision making and the instruction must include, but is not limited to, age-appropriate instruction on budgeting, savings, credit, debt, insurance, investments, and any other issues associated with personal financial responsibility. Requires the State Board of Education to prepare and make available to school boards instructional materials that may be used as guidelines for development of the unit of instruction.

Illinois

HR 287
Adopted 5/30/19

Declares April 2019 as Financial Literacy Month.

Illinois SB 1393

Provides that the state treasurer shall establish the Illinois Higher Education Savings Program for the purpose of expanding access to higher education through savings. Provides that the state treasurer may develop educational materials that support the financial literacy of beneficiaries and their legal guardians, and may do so in collaboration with state and federal agencies, including, but not limited to, the Illinois State Board of Education and existing nonprofit agencies with expertise in financial literacy and education.

Illinois SB 1661

Amends the School Code. Provides that, beginning with the 2019-2010 school year, each school district maintaining any of grades 6 through 8 must include in its curriculum and require students in those grades to take a unit of instruction on financial literacy. Provides that the purpose of the instruction is to provide students with the basic financial literacy necessary for sound financial decision making and the instruction must include, but is not limited to, age-appropriate instruction on budgeting, savings, credit, debt, insurance, investments, and any other issues associated with personal financial responsibility. Requires the State Board of Education to prepare and make available to school boards instructional materials that may be used as guidelines for development of the unit of instruction.

Indiana

SB 547
Passed Senate 2/26/19

Urges the legislative council to assign to an appropriate study committee the topics of: (1) improving science education; (2) improving mathematics, geography, and personal finance education in kindergarten through grade 12; and (3) including entrepreneurship curriculum in kindergarten through grade 12.

Indiana

SB 613
Passed Senate 2/26/19

Makes the following changes to the Uniform Consumer Credit Code (UCCC): (1) Repeals a provision specifying a reference base index for use by the department of financial institutions (department) in adjusting specified dollar amounts designated as subject to change throughout the UCCC. (2) Replaces: (A) the tiered credit service charge authorized for consumer credit sales; and (B) the 25% loan finance charge authorized for consumer loans; with a flat charge of 36% per year on the unpaid balances. (3) Increases the: (A) minimum credit service charge for consumer credit sales; and (B) minimum loan finance charge for consumer loans; from $30 (subject to indexing) to $50 (not subject to indexing). (4) Eliminates indexing of the authorized $5 delinquency charge for consumer credit sales and consumer loans. (5) Provides that a seller in a consumer credit sale may take a security interest in goods sold if the debt secured is at least $1,500 (not subject to indexing), versus $300 (subject to indexing) in current law. (6) Changes the authorized nonrefundable prepaid finance charge for consumer loans not secured by an interest in land from $50 to $100. (7) Repeals: (A) the definition of "supervised loan"; and (B) the provision establishing the authorized loan finance charge for supervised loans. Makes conforming amendments throughout the UCCC and the Indiana Code. (8) Provides that for a consumer loan: (A) with a loan finance charge greater than 25%; and (B) in which the principal is $4,000 or less (not subject to indexing); a lender may not contract for an interest in land as security. (Current law prohibits a lender from contracting for an interest in land as security if the loan principal is $4,000 or less (subject to indexing) without regard to the loan's finance charge.) (9) Provides that consumer loans having a loan finance charge exceeding 25% and in which the principal is $4,000 or less are payable over a period of not more than: (A) 37 months if the principal is more than $1,100 (versus $300, subject to indexing, in current law) but not more than $4,000; or (B) 25 months if the principal is $1,100 (versus $300, subject to indexing, in current law) or less. (Current law specifies these maximum loan terms for loans with a principal amount of $4,000 or less (subject to indexing) without regard to the loan's finance charge.) (10) Provides that a creditor in a consumer loan transaction may not contract for or receive a separate charge for property casualty insurance unless the amount financed exclusive of charges for the insurance is at least $1,000 (versus $300, subject to indexing, in current law), and the value of the property is at least $1,000 (versus $300, subject to indexing, in current law). Authorizes a lender that is licensed by the department to make small loans under the UCCC to make unsecured consumer installment loans under the same license. Defines an "unsecured consumer installment loan" as a loan: (1) with a principal amount that is: (A) more than $605 and not more than $1,500; and (B) payable in three or more substantially equal periodic payments; and (2) in which the lender holds one or more checks of the borrower for a specific period, or is authorized to debit the borrower's account on one or more occasions for a specific period, before the lender deposits the check or debits the account. Requires that the loan term for an unsecured consumer installment loan be at least six months but not more than nine months. Provides for the following with respect to unsecured consumer installment loans: (1) An authorized finance charge and monthly maintenance fee. (2) An annual fee assessed on lenders of $1,000 per license and $1,000 per Indiana branch location (after the first location), for financial education programs. Prohibits: (1) the renewal of an unsecured consumer installment loan; and (2) a borrower from having: (A) a small loan and an unsecured consumer installment loan; or (B) more than one unsecured consumer installment loan; outstanding at the same time. Establishes requirements for the licensure and conduct of persons issuing small dollar loans. Defines "small dollar loan" as a loan with a maximum loan amount of $3,000 and a term of: (1) at least 180 days; and (2) not more than 36 months. Provides that with respect to a small dollar loan, a lender may contract for a loan finance charge of not more than 72%. Provides for an annual fee assessed on lenders of $1,000 per license and $1,000 per Indiana branch location (after the first location), for financial education programs. Establishes the consumer financial education fund (fund) for the purpose of paying expenses incurred by the department relating to consumer financial education. Provides that the annual fees required to be paid by: (1) lenders licensed to make small dollar loans and unsecured consumer installment loans; and (2) lenders licensed to make small dollar loans; shall be deposited in the fund. Specifies that a "rate", for purposes of the loansharking statute, includes a nonrefundable prepaid finance charge. Replaces language conforming the loan rate for the criminal loansharking statute to the maximum loan finance charge for consumer loans under the UCCC, with language specifying that a loan is considered loansharking if it is made at a rate greater than 72% per year on the unpaid balance of the principal.

Iowa HF 420

This bill establishes that the requirement that all high school students enrolled in school districts and accredited nonpublic schools take a one-half unit course in personal finance literacy, as a condition of graduation, commences with the students in the 2022-2023 school year graduating class.

Iowa

SF 139
Signed by governor 5/9/19

Requires financial literacy as a condition of graduation under the State Educational Standards.

Iowa SF 278

This bill directs the boards of directors of community colleges and the state board of regents to require the institutions governed by the boards to develop and offer a financial literacy program to any student who obtains an educational loan. The program must be free to the student and meet the unique needs of the student, and must include but not be limited to a review of the student’s spending habits, borrowing history, financial aid package, and projected repayment of the student’s total educational loan amount; classroom activities and discussions of budgeting, investing, credit, and identity protection; private loan counseling; counseling specific to transfer students; and grant counseling. Each institution’s financial aid office shall work to establish a campus-wide culture of financial literacy. The bill may include a state mandate as defined in Code §25B.3. The bill provides that the state cost of requiring compliance with any state mandate included in the bill shall be moneys appropriated for general state financial aid to merged areas and any other state and federal moneys received for administration or student support. The specification is deemed to constitute state compliance with any state mandate funding-related requirements of Code §25B.2. The inclusion of this specification is intended to reinstate the requirement of political subdivisions to comply with any state mandates included in the bill.

Kansas HB 2166

The bill requires all accredited high schools to give a course of instruction for grade 11 or grade 12 concerning personal finance literacy. The bill requires the course to be at least one semester and include the following areas: (1) savings and investing; (2) credit and debt; (3) financial responsibility and money management; and (4) insurance, risk management, and income. No student who has not taken and satisfactorily passed the course in grade 11 or grade 12 could be certified as having the requirements necessary for graduation for high school. In addition, the bill amends current law regarding financial literacy curriculum for provisions contained in HB 2166.

Kentucky

HB 139
Signed by governor 3/26/19, Act 155

Establishes the Financial Empowerment Commission; provides for the board of directors; establishes that the state treasurer shall serve as chair of the Board; confers all power and duties upon the Commission; requires the auditor of Public Accounts to conduct an annual audit of the Commission.

Louisiana

HB 239
Signed by governor 6/5/19, Act 116

Provides relative to required instruction in personal financial management for public school students; requires instruction to include information relating to student loan borrowing.

Maine LD 160

This bill requires the Department of Education to add instruction in personal finance to the statewide system of learning results and to adopt rules accordingly.

Maryland

HB 195
Passed House 3/12/19

Requires the Prince George's County Board of Education, beginning in the 2020-2021 school year, to develop and implement a pilot program that includes a semester-long elective course in financial literacy as a part of the county board's high school curriculum; requires the Board to develop the curriculum content for the course; requires the Board to select at least one school to participate in the program; requires the Board to submit a report by June 30 each year on the success of the program to the county's legislative delegations; etc.

Maryland HB 371

Requires the State Board of Education to develop curriculum content for a half-semester-long course in financial literacy; requires each county board of education to implement the financial literacy curriculum content developed by the State Board in certain high schools; and requires students to complete a certain course in order to graduate from high school.

Maryland HB 1138

Requires the State Board of Education to develop curriculum content for a one-half credit course in financial literacy on or before July 1, 2020; requires each county board of education to implement the financial literacy curriculum content developed by the State Board in public high schools beginning in the 2020-2021 school year; and requires students to complete a financial literacy course and pass an exam in order to graduate from high school.

Maryland

HB 1411
Became law without governor’s signature 5/25/19, Chapter 745

Requires the governor to include in the annual state budget for each fiscal year an appropriation of $200,000 for the CASH Campaign of Maryland to provide outreach, education, and free tax preparation services to promote the financial capability of low-income individuals and families; and specifies that the appropriations may be used to provide free volunteer tax assistance, financial education, connections to high quality financial services, education for service providers, and outreach to low-income individuals and families.

Maryland

SB 658
Withdrawn from further consideration 3/4/19

Requires the Maryland Legal Services Corporation, in consultation with Civil Justice, Inc., to establish the End-of-Life Legal Services Pilot Program to provide low- and moderate-income seniors with the preparation of legal documents, legal assistance in civil proceedings, financial literacy education and other matters; specifies eligibility requirements for participation in the Program.

Massachusetts HB 42

Submits recommendations of the Department of the State Treasurer as relates to financial literacy.

Massachusetts HB 114

Provides financial literacy services to persons receiving financial assistance.

Massachusetts HB 118

Relates to children in the care, protection, and custody of the commonwealth. Requires the department, in consultation with the area boards created in §13 of chapter 18B and the statewide advisory council created in §16 of chapter 18B, shall create an age-appropriate, culturally-appropriate, life-skills curriculum for children in the foster care system. The curriculum shall begin for children age 11 and continue through age 18 and shall include, but not be limited to, the following areas: interpersonal skills; completing household duties; running a home; grocery shopping; opening a bank account; interviewing for jobs and/or college; filling out job applications; managing bills; and financial literacy education. The curriculum shall be approved by the secretary of health and human services and shall include a timeframe and cost analysis of implementation within three years of implementation of this act.

Massachusetts HB 438

Relates to establishing a personal financial literacy curriculum in schools.

Massachusetts HB 472

Establishes a curriculum on personal financial literacy in the public schools.

Massachusetts HB 616

Establishes a special commission to study and develop a statewide financial literacy program on personal financial management for senior citizens in the commonwealth.

Massachusetts HB 1224

Relates to financial literacy counseling for students accepted at public institutions of higher education.

Massachusetts SB 27

Relates to children in the care, protection, and custody of the commonwealth. Requires the department, in consultation with the area boards created in §13 of chapter 18B and the statewide advisory council created in §16 of chapter 18B, shall create an age-appropriate, culturally-appropriate, life-skills curriculum for children in the foster care system. The curriculum shall begin for children age 11 and continue through age 18 and shall include, but not be limited to, the following areas: interpersonal skills; completing household duties; running a home; grocery shopping; opening a bank account; interviewing for jobs and/or college; filling out job applications; managing bills; and financial literacy education. The curriculum shall be approved by the secretary of health and human services and shall include a timeframe and cost analysis of implementation within three years of implementation of this act.

Massachusetts SB 262

Relates to mandating a curriculum in the public schools on personal financial literacy.

Michigan HB 4271

Revises requirement for State merit curriculum. The bill retains the four-credit math requirement but would allow a student to fulfill the algebra II requirement by completing a statistics course or the financial literacy course described in §1165 of the School Code, as long as that course aligned with the subject area content expectations for math developed by the Michigan Department of Education (MDE) and approved by the State Board of Education. The bill also incorporates the option of taking statistics or financial literacy as an alternative to algebra II into the mathematics options under a personal curriculum under the same circumstances.

Michigan

HR 55
Adopted 3/21/19

Declares March 30-April 6, 2019, as Money Smart Week in the state of Michigan.

Michigan

HR 74
Adopted 4/23/19

Declares April 21-29, 2019, as Financial Literacy Week in the state of Michigan.

Minnesota

HF 292
SF 400

Appropriates money for a grant to Girl Scouts River Valleys for the ConnectZ program; serving Minnesota residents providing innovative, culturally responsive programming to underrepresented, under-resourced girls in kindergarten through grade 12, including programming relating to healthy relationships; science, technology, engineering, and math; financial literacy; college and career readiness; and leadership development and service learning; requires a report.

Minnesota

HF 841
SF 1123

Enacts the Women of Color Opportunity Act; creates pilot projects; requires a report; appropriates money. The commissioner shall award competitive grants, to the extent funds are available, on a first-come, first-served basis to eligible organizations to help girls and women of color gain financial literacy. The commissioner must award at least two grants to eligible organizations serving girls or women of color in Ramsey County, and at least one of these grant recipients must serve girls of color in secondary school. The commissioner also must award at least two grants to eligible organizations serving girls or women of color in greater Minnesota, and at least one of these grant recipients must serve girls of color in secondary school. The eligible organizations receiving a grant must use grant funds to increase the financial literacy of girls and women of color. Instruction in financial literacy must be culturally specific and provided in the primary language of the girls or women of color receiving the instruction.

Minnesota HF 847
SF 19

Requires personal finance for high school graduation.

Minnesota

HF 905
SF 988

Relates to employment; creates the getting to work grant program; requires reports; appropriates money. A program must offer one or more of the following services: (1) provision of new or used motor vehicles by gift, sale, or lease; (2) motor vehicle repair and maintenance services; or (3) motor vehicle loans. In addition to the requirements of paragraph (a), a program must offer one or more of the following services: (1) financial literacy education; (2) education on budgeting for vehicle ownership; (3) car maintenance and repair instruction; (4) credit counseling; or (5) job training related to motor vehicle maintenance and repair.

Minnesota HF 1151

Relates to housing; appropriates money to the Housing Finance Agency for housing programs. Appropriates is for a grant to Build Wealth Minnesota to provide a family stabilization plan program including program outreach, financial literacy education, and budget and debt counseling.

Minnesota HF 1862
SF 1900

Relates to state government; creates and appropriates money for a grant program for financial capability services integrated with taxpayer assistance services; increases existing appropriation for taxpayer assistance grant programs; authorizes the Commissioner to award grants to nonprofit organizations for specified purposes.

Minnesota HF 1990
SF 1792

Relates to higher education; requires a program for students with intellectual and developmental disabilities at certain state universities; requires a report. The program must provide an inclusive, full-time, two-year residential college experience for students with intellectual and developmental disabilities. The curriculum must include: (1) core courses that develop life skills, financial literacy, and the ability to live

independently; (2) rigorous academic work in a student's chosen field of study; and (3) an internship, apprenticeship, or other skills-based experience to prepare for meaningful employment upon completion of the program.

Minnesota HF 2037
SF 2261

Relates to education finance; appropriates money for Girls in Action programming grant. Girls in Action programs supported by these funds must include programs focused on: (1) increasing academic performance, high school graduation rates, and enrollment in postsecondary education for girls faced with social, demographic, racial, and economic barriers and challenges; (2) increasing mentoring, literacy, career development, positive community engagement, and number of qualified female employees of color in the workforce pipeline, particularly in science, technology, engineering, and mathematics fields; (3) providing coaching, mentoring, health and wellness counseling, resources to girls whose experience with sexual assault has negatively impacted their academics and behavior, and culturally sensitive therapy resources and counseling services to sexual assault victims; and (4) increasing financial literacy and knowledge of options for financing college or postsecondary education.

Minnesota

HF 2200
Indefinitely postponed 4/24/19

Relates to agriculture; establishes a budget for the Department of Agriculture, the Board of Animal Health, and the Agricultural Utilization Research Institute; continues the Agricultural Fertilizer Research and Education Council; continues a fertilizer fee; modifies requirements for Cervidae farmers, grain buyers, and grain warehouse operators; modifies other agricultural statutes. Appropriates a grant to Build Wealth Minnesota to provide a family stabilization plan program including program outreach, financial literacy education, and budget and debt counseling.

Minnesota

HF 2531

SF 2614

Relates to education finance; authorizes a grant to the State Council on Economic Education; appropriates money.

Minnesota HF 2670
SF 1925

Relates to state government; creates and appropriates money for a grant program for financial capability services integrated with taxpayer assistance services; requires reports; increases existing appropriation for the taxpayer assistance grants program.

Mississippi

HB 687
Died in committee 2/5/19

Authorizes school boards to implement a financial literacy and public finance curriculum for students in high school; amend §37-7-301 to expand the grades in which school boards are authorized to implement a financial literacy program from grades 10 and 11 to grades 9 through 12; removes the authority of school boards to acquire property through condemnation proceedings or use of eminent domain.

Mississippi

HF 1354
Died in committee 2/5/19

Creates the state employee loan program to be administered by the department of finance and administration; provides that a loan applicant may receive no more than two loans per year; provides that the loan shall be in an amount that is no more than $600, and may be made in $100 increments; provides that the loan shall be repaid over a three-month term; requires an applicant to complete an online financial literacy course within three months after receiving his or her first loan; requires that to be eligible for a loan, an applicant must be an active, full-time employee who has a minimum of 12 consecutive months of employment with the state of Mississippi; provides for a processing fee that is charged for each loan; provides a penalty for a recipient who defaults on repayment of his or her loan; authorizes the department to make monthly withholdings from the recipient's paycheck until the loan is repaid.

Mississippi

SF 2359
Died in committee 2/27/19

Creates the family empowerment initiative; authorizes the creation of individual development accounts for low income individuals that may be utilized by the account holder for certain purposes; authorizes the Department of Human Services to contract with fiduciary organizations to serve as intermediaries between individual development account holders and financial institutions holding account funds; requires financial literacy education for participants.

Missouri HB 1244

Creates a civil cause of action allowing claimants to seek damages from the state for wrongful conviction. May also be awarded other nonmonetary relief as sought in the complaint 60 including, but not limited to, counseling, housing assistance, and personal financial literacy assistance, as appropriate.

Montana

SB 58
Signed by governor 3/20/19, Chapter 75

Revises the State Bank Act; changes the definition of a student financial institution and the requirements for operation of a student financial institution by a financial institution.

Montana

SB 87
Passed Senate 1/28/19

Increases the financial literacy of students who borrow money to pay for college; requests units of the Montana University system to provide financial literacy workshops and reports to students incurring federal student loan debt.

Nebraska LB 265

Adopts the Unsecured Consumer Loan Licensing Act and clarify licensing provisions under the Delayed Deposit Services Licensing Act and the state's Installment Loan Act. Creates the Financial Literacy Fund, administered by the University of Nebraska, and shall be used to provide assistance to nonprofit entities that offer financial literacy programs to students in grades kindergarten through 12.

Nebraska

LB 399
Signed by governor 3/27/19

Changes the name of the Committee on Americanism to the Committee on American Civics; provides duties for the State Board of Education and the State Department of Education. The committee must examine and ensure that the social studies curriculum used in the district is aligned with the social studies standards adopted pursuant to §79-760.01 and teaches foundational knowledge in civics, history, economics, financial literacy, and geography.

Nebraska LR 141

Establishes an interim study to examine ways to enhance financial literacy programs, training, and general competencies and problem-solving skills in Nebraska, with the objective of increasing long-term financial stability for all Nebraskans.

Nevada AB 208

Revises provisions governing education. This bill requires: (1) each state facility for the detention of children to provide instruction in financial literacy to such pupils; and (2) each public high school and state facility for the detention of children to provide instruction in home economics to pupils enrolled in grades 10 and 11.

Nevada

AB 267
Sent to governor 6/3/19

Provides compensation to certain persons who were wrongfully convicted. May be awarded any other relief, including, without limitation, housing assistance or assistance for financial literacy for the person.

Nevada SB 194

Requires the Office of the State Treasurer to establish the Individual Development Account Program under which certain persons may establish an individual development account; establishes a credit against the modified business tax for certain taxpayers or other persons; creates the Nevada Statewide Council on Financial Independence; prohibits certain entities from considering money deposited into an individual development account by certain persons to be income under certain circumstances; requires certain entities to ensure that instruction in financial literacy is provided to certain persons; requires the state treasurer to ensure that certain instruction and training is provided to a tenant of a housing project; authorizes the Board of Regents of the University of Nevada to waive certain fees and tuition for certain children placed in foster homes or in the custody of an agency which provides child welfare services; makes an appropriation.

Nevada

SB 314
Signed by governor 6/3/19, Chapter 326

Establishes a State Seal of Financial Literacy; requires the Department of Education to establish a Financial Literacy Month; establishes the State Financial Literacy Advisory Council; establishes provisions relating to obtaining an endorsement to teach courses relating to financial literacy.

Nevada

SB 555
Signed by governor 6/5/19, Chapter 376

Ensures sufficient funding for K-12 public education for the 2019-2021 biennium; apportions the State Distributive School Account in the State General Fund for the 2019-2021 biennium; authorizes certain expenditures; makes appropriations for purposes relates to basic support, class-size reduction and other educational purposes, including instruction in financial literacy; temporarily diverting the money from the State Supplemental School Support Account to the State Distributive School Account for use in funding operating costs and other expenditures of school districts and charter schools.

New Hampshire

HB 689
Passed House 2/27/19

This bill establishes a student career and college investment program which will be available to any student enrolled in a public school or chartered public school and who completes a financial literacy program in the second grade or later. The bill requires a portion of the registration fee for certain mutual funds to be transferred to the program fund.

New Jersey AB 840

Requires county colleges to develop juvenile offender reentry programs. The reentry program shall: (1) offer administrative support to eligible participants in identifying and applying for student financial assistance and other programs available to support the participants’ higher education costs; (2) target its program offerings to best meet the skill demands of regional employers; (3) ensure that participants have an opportunity to obtain education and industry-recognized credentials in high-demand occupations and industries; (4) offer a comprehensive array of support services targeted to meet the needs of juvenile offenders, including counseling to identify and address student barriers to success, and life skills training in areas such as financial literacy, workplace expectations, and interpersonal relationships; (5) include a service learning component to provide participants an opportunity to make a positive contribution to their community; and (6) provide job placement services for participants who have successfully completed the program including assistance in resume development and interview preparation.

New Jersey

AB 1414
Signed by governor 1/3/19, Chapter 16
SB 1592
Substituted 12/17/18

Requires financial literacy instruction to pupils enrolled in grades kindergarten through eight.

New Jersey

AB 2773

SB 762
Passed Senate 2/1/18

Requires State Board of Education high school graduation requirements include instruction on tuition assistance programs and student loan debt; requires high school students to meet with guidance counselor to discuss tuition assistance and dual enrollment.

New Jersey AB 3085
SB 1794

Requires institutions of higher education to send out annual student debt letters; requires students enrolled in public institutions of higher education to complete course on student loan debt repayment.

New Jersey AB 3572

Requires students enrolled in public institutions of higher education to complete course on financial literacy.

New Jersey

AJR 118
Passed Assembly 3/25/19

Designates April of each year as “Financial Literacy Month” in New Jersey.

New Jersey AR 134

Urges institutions of higher education to offer a required undergraduate course on financial literacy.

New Jersey AR 227

Urges State Board of Education to require school districts to incorporate financial literary instruction into mathematics and social studies curriculum.

New Jersey SB 70

Concerns state-administered retirement savings plan; establishes “Garden State MEP.” Requires any information and marketing designed and made available pursuant to this section shall promote the benefits of retirement savings and provide information that promotes financial literacy.

New Mexico SB 371

Makes an appropriation to the office of the state treasurer to fund a financial-skills-building program to prepare youth to make the transition from foster care or other youth services.

New York AB 1357
SB 2542

Establishes that instruction in financial education be provided to pupils in grades nine through 12; establishes what should be included in such curriculum including the basics of financial planning, budgeting, borrowing, interest rates, personal insurance policies, etc.

New York AB 2059

Relates to the creation of the office of financial services for new Americans for the purpose of assisting immigrant communities in gaining financial knowledge and understanding.

New York AB 3010

Establishes a college experience program for students with developmental disabilities; requires the trustees of SUNY and CUNY to adopt regulations to establish a two year college experience program for students with developmental disabilities at each SUNY and CUNY institution and community college. Such program shall consist of: an academic component related to preparing eligible students for practical living and employment and shall include coursework related to such purposes including, but not limited to, courses in cooking, personal finance, health and wellness, interpersonal communications, and internships.

New York

AB 3421
SB 1589

Establishes the state financial literacy commission; creates a state financial literacy commission to measurably improve the financial literacy and financial capability of New York state residents.

New York AB 3497
SB 4077

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.

New York AB 4684
SB 2400

Provides that juniors and seniors at secondary schools must take a financial literacy and personal finances course.

New York AB 4772
SB 4970

Requires instruction in financial management for all students in grades four through eight.

New York AB 4857

Relates to the establishment of various programs for students in pre-kindergarten through third grade including programs for literacy, career readiness and financial literacy.

New York

AB 5198
SB 5014

Relates to establishing a program for financial transitional living services for foster children; establishes independent development savings accounts for foster children over the age of 16; requires foster children to attend financial literacy and independent living classes.

New York AB 6001
SB 2382

Requires any school district in the state shall provide, to pupils in grades nine through 12, one full unit of instruction designed to promote consumer awareness and financial education.

New York AB 6070
SB 2397

Directs the New York state department of financial services and the New York state department of state's consumer protection division to conduct a study on consumer awareness and financial education in New York state and to make recommendations for a consumer awareness and financial education program.

New York AB 8052
SB 1355

Establishes a community business initiative to provide grants to postsecondary educational institutions for the development of a school-based incubator to train applicants in business education, financial literacy, and marketing in order to develop local businesses that contribute to the local economy and address community needs.

North Carolina HB 433

Requires completion of an economics and personal finance course as a high school graduation requirement in public schools, clarifies requirements for high school civic literacy, and requires professional development for economics and personal finance teachers.

North Carolina

HB 924
Passed House 5/3/19

Clarifies eligibility for extended teacher contracts, requires completion of an economics and personal finance course as a high school graduation requirement in public schools, clarifies requirements for high school civic literacy, and requires professional development for economics and personal finance teachers.

North Carolina SB 134

Requires completion of an economics and personal finance course as a high school graduation requirement in public schools, clarifies requirements for high school civic literacy, and requires professional development for economics and personal finance teachers.

North Dakota None  
N. Mariana Islands Not available  
Ohio None  
Oklahoma SB 191

Relates to workforce development; creates the Workforce Development Act; provides short title; creates a division in the Department of Labor; sets sunset law date; states purpose; prohibits certain state appropriations for the division; defines terms; provides powers, duties, and responsibilities; authorizes certain contracts requiring certain reports; requires financial literacy programs and materials; allows investigations; provides for interagency cooperation; directs promulgation of rules.

Oregon HB 2508

Requires the Department of Human Services to award grants to refugee resettlement agencies to provide specified services to refugees. Appropriates moneys from the general fund to the department to award grants, including providing support to refugees in budgeting and achieving financial literacy.

Oregon HB 2521

Establishes the Financial Literacy Account for the purpose of supporting implementation and development of curricula related to financial literacy.

Pennsylvania HB 49

Amends the Public School Code; relates to high schools; provides for courses of study in personal finance; allows students to apply one credit earned for the successful completion of a personal finance course to satisfy certain requirements for graduation.

Pennsylvania HB 267

Amends the Public School Code; relates to terms and courses of study; provides for subjects of instruction, flag code, and for economic education and personal financial literacy programs; provides for personal finance instruction and for capstone courses in personal finance as graduation requirements; establishes the Personal Finance Education Fund; makes an appropriation.

Pennsylvania HB 772

Amends statutes relating to the Judiciary and judicial procedure; relates to sentencing; provides for alternative sentencing for primary caretakers. The court may require the individual to meet certain conditions that the court considers appropriate, including, but not limited to, any of the following: (1) Drug and alcohol treatment, (2) Domestic violence education and prevention, (3) Physical and sexual abuse counseling, (4) Anger management, (5) Vocational and educational services, (6) Job training and placement education, (7) Affordable and safe housing assistance education, (8) Financial literacy, (9) Parenting classes, (10) Family and individual counseling, (11) Family case management services.

Pennsylvania HB 993

Amends the act, known as the Public School Code, in preliminary provisions, establishing the Higher Education Funding Commission and providing for its powers and duties, including an analysis of current efforts by institutions of higher education to improve financial literacy as it relates to the costs associated with the attainment of an associate degree or higher.

Pennsylvania HB 1009

Amends Title 42 Judiciary and Judicial Procedure of the Pennsylvania Consolidated Statutes, in sentencing; provides for alternative sentence for pregnant offenders. The court may require the pregnant offender to meet certain conditions that the court considers appropriate, including, but not limited to, the following: (1) Drug and alcohol treatment. (2) Domestic violence education and prevention. (3) Physical and sexual abuse counseling. (4) Anger management. (5) Vocational and educational services. (6) Job training and placement education. (7) Affordable and safe housing assistance education. (8) Financial literacy. (9) Parenting classes. (10) Family and individual counseling. (11) Family case management services.

Pennsylvania

HR 242
Adopted 4/17/19

Recognizes the month of April 2019 as "Financial Literacy Month" in Pennsylvania in special recognition of the importance of increasing financial literacy among residents of this Commonwealth.

Pennsylvania SB 59

Amends the act known as the Public School Code, in terms and courses of study; provides for subjects of instruction and flag code and for economic education and personal financial literacy programs; provides for personal finance instruction and for capstone course in personal finance as graduation requirement; establishes the Personal Finance Education Fund; makes an appropriation.

Pennsylvania SB 723

Relates to high schools; provides for courses of study including personal finance.

Puerto Rico HB 1106

Amends Law 10 of 2017, the Organic Law of the Office for the Community and Socio-economic development, to provide that said government unit to design, plan, coordinate, promote and disclose a financial education program for the population that it is supposed to address, with a view to ensuring the development of a better credit consumer, and to reduce the incidence of bankruptcies and stimulate savings and investment in productive activities.

Rhode Island HB 5033

Mandates a program of financial literacy to be taught to all students in public high schools throughout the state and that the curriculum of the program would include, but not be limited to, budgeting, maintaining credit, saving, investing, and protecting and insuring assets.

Rhode Island HB 5104

Establishes rules and procedures for licensing emergency shelters, including setting minimum standards and prohibiting the charging of fees to the residents. Resident funds provided to a shelter for the purposes of teaching financial literacy or creating a "savings account" are permitted if the funds are returned to the resident at the appropriate time or upon request.

Rhode Island HB 5519

Relates to criminal procedure; establishes Sentencing Act; requires Department of Corrections to assist offenders with reintegration into society, provide counseling, medical care, and release to home confinement and community confinement for elderly and terminally ill offenders. The department shall establish prerelease planning procedures that help prisoners acclimate back into society. The planning procedures shall include providing defendants with information in the following areas: (1) Health and nutrition; (2) Employment; (3) Literacy and education; (4) Personal finance and consumer skills; (5) Community resources; (6) Personal growth and development; (7) Release requirements and procedures; and (8) Medical care.

Rhode Island

HB 5955
Adopted 4/3/19, Resolution 192
SB 794

Adopted 4/9/19, Resolution 202

Proclaims April 2019, to be "Financial Literacy Month" in the state of Rhode Island.

Rhode Island SB 112

Mandates that a program of financial literacy be taught to all students in public high schools throughout the state; requires the curriculum of the program to include, but not be limited to, budgeting, maintaining credit, saving, investing, and protecting and insuring assets.

South Carolina HB 3158

Amends §59-29-165, relating to instruction in personal finance required in public high schools, so as to require one unit of personal finance instruction for all high school students entering the ninth grade in the 2019-2020 school year.

South Carolina HB 3199

Amends §59-29-410, relating to instructional topics required in high school financial literacy programs, so as to also require instruction on the topics of college and education loans, key loan terms, monthly payment obligations, repayment options, credit, and education loan debt.

South Carolina HB 3324

Enacts the "college financial aid education act"; amends §59-29-410, relating to topics included in high school financial literacy programs, so as to include financing secondary education among the topics; amends §§59-103-165, 59-103-170, and 59-103-190, all relating to post-secondary education option information packages and counseling for eighth-grade students, so as to expand the scope of students to whom packages and counseling are offered to include high school students and college students; and retitles article 2, chapter 103, title 59, from "post-secondary education option information" to "post-secondary education information and counseling."

South Carolina HB 3349

Adds §59-29-163 so as to require two credits of coursework in one foreign language and foreign culture with an end-of-year test as a requirement for high school graduation beginning with students entering the ninth grade for the 2019-2020 school year, and provides alternative requirements for students who participate in "English as a second language" programs; amends §59-29-165, relating to instruction in personal finance for students attending public high schools, so as to require a one-half credit course in personal finance with an end-of-year test as a requirement for high school graduation beginning with students entering the ninth grade for the 2019-2020 school year; and amends §59-39-100, relating to units required for a high school diploma, so as to increase the number of units required to conform to the requirements of this act.

South Carolina HB 4149

Adds §59-29-17 so as to require a one-half credit course of study in personal finance with an end-of-course examination as a requirement for high school graduation beginning with the 2020-2021 school year.

South Carolina SB 15

Requires a one-half credit course of study in personal finance with an end of year test as a requirement for high school graduation beginning with the 2020 to 2021 school year.

South Dakota

HB 1040
Signed by governor 2/13/19, Chapter 96

Establishes provisions regarding the Opportunity Scholarship Program; provides eligibility and participation requirements, includes one-half unit of personal finance or economics.

South Dakota HB 1247

Establishes minimum requirements for high school graduation, includes one-half unit of personal finance.

South Dakota

SB 151
Tabled 2/25/19

Revises the course requirements for the opportunity scholarship, eliminates requirement for one-half unit of personal finance or economics.

Tennessee

HB 87
Substituted 3/4/19
SB 233
Signed by governor 3/22/19, Public Chapter 37

Designates the week beginning on the first Sunday in April as Financial Literacy Week in Tennessee.

Tennessee

HB 1449
Substituted by SB 985 4/22/19

Allows a court to sentence a person to an individually assessed sentence based on community rehabilitation with a focus on parent child unity and support, if the person has been convicted of a nonviolent offense and is the primary caretaker of a dependent child. The court may require the person to meet certain conditions that the court considers appropriate, including, but not limited to: (1) Drug and alcohol treatment; (2) Domestic violence education and prevention; (3) Physical and sexual abuse counseling; (4) Anger management; (5) Vocational and educational services; (6) Job training and placement; (7) Affordable and safe housing assistance; (8) Financial literacy; (9) Parenting classes; (10) Family and individual counseling; and (11) Family case management services.

Tennessee SB 59

Allows a court to sentence a person to an individually assessed sentence based on community rehabilitation with a focus on parent-child unity and support, if the person has been convicted of a nonviolent offense and is the primary caretaker of a dependent child. the court may require the person to meet certain conditions that the court considers appropriate, including, but not limited to: (1) Drug and alcohol treatment; (2) Domestic violence education and prevention; (3) Physical and sexual abuse counseling; (4) Anger management; (5) Vocational and educational services; (6) Job training and placement; (7) Affordable and safe housing assistance; (8) Financial literacy; (9) Parenting classes; (10) Family and individual counseling; and (11) Family case management services.

Texas

HB 53
Signed by governor 6/10/19

Expands the curriculum for the experiential life skills training provided for youth in foster care to include certain aspects of a financial literacy education.

Texas

HB 1182
Passed House 4/16/19
SB 686
Passed Senate 4/29/19

Relates to personal financial literacy courses for high school students in public schools.

Texas

HB 1389
Passed House 3/26/19

Relates to the placement on community supervision, including deferred adjudication community supervision, of a defendant who is the primary caretaker of a child. A court placing a defendant on deferred adjudication community supervision under this article may impose conditions of deferred adjudication community supervision that emphasize the defendant's rehabilitation in a community setting and parent-child unity and provide support to the parent-child relationship, such as conditions relating to: (1) alcohol or substance abuse counseling or treatment; (2) domestic violence education and prevention; (3) physical or sexual abuse counseling; (4) anger management; (5) vocational, technical, or career education or training, including financial literacy; (6) affordable and safe housing assistance; (7) parenting skills; (8) family or individual counseling; or (9) family case management services.

Texas HB 2603

Relates to requiring regional education service centers to provide information to school district employees regarding health and retirement benefits and financial literacy.

Texas HB 2614

Relates to a pilot program to increase the financial independence of foster children who are transitioning to independent living. Incentives may be established to provide financial rewards to foster children for actions performed by the children, including college visits or attendance at financial education classes.

Texas HB 3846

Relates to the development of additional instruction that may be used by a public school after administration of all state required assessment instruments for the school year, includes personal financial literacy.

Texas SB 656

Relates to the transition and employment guide for public school students enrolled in a special education program. The guide must contain financial literacy, including information and curricula on the effective long-term management of financial resources.

Texas SB 2398

Relates to establishment of the higher education pilot program for foster youth and former foster youth, includes financial literacy training.

Texas

SR 651
Adopted 4/29/19

Recognizes April 2019 as Financial Literacy Month.

Utah

HB 286
Signed by governor 3/25/19, Chapter 226

This bill amends provisions related to financial and economic literacy education. This bill: amends the definition of "financial and economic literacy concepts"; amends provisions related to standards related to financial literacy; repeals and reenacts provisions related to: a general financial literacy course; and professional development related to financial literacy education; repeals provisions related to a financial and economic literacy passport; amends provisions related to the convening of a task force; and makes technical and conforming changes.

Vermont HB 371

This bill proposes to support the creation of an opportunity economy by providing funding and policy guidance for: (1) the Microbusiness Development Program; (2) the Vermont Matched Savings Account Program; (3) workforce development and training programs for Vermonters with barriers to employment; (4) financial education, coaching, and credit building services for Vermonters with barriers to financial security; and (5) the Volunteer Income Tax Assistance Program.

Virginia None  
U.S. Virgin Islands Not available  
Washington None  
West Virginia HB 2775

Requires each high school student to complete a one-half credit course of study in personal finance.

West Virginia HB 3008

Concerns the reentry task force. The task force shall create a program to provide and coordinate the delivery of community services to juvenile and adult offenders, including: (1) Housing assistance; (2) Literacy and education; (3) Job training and job placement; (4) Conflict resolution skills training; (5) Batterer intervention programs; (6) Health and nutrition information, including mental health treatment; (7) Personal finance and consumer skills; and (8) Other appropriate social services, including, but not limited to, (i) Release requirements and procedures, (ii) drug and alcohol testing and assessment for treatment, and (iii) additional community resources.

West Virginia SB 513

Requires completion of personal finance class to graduate high school.

Wisconsin None  
Wyoming None  

 

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Heather Morton is a program principal in Fiscal Affairs. She covers financial services, alcohol production and sales, telecommunications and medical malpractice issues for NCSL.

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