Financial Literacy 2020 Legislation

Heather Morton 4/14/2020

Woman Holding Calculator in Front of Laptop

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

Financial 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.

Thirty-six states, the District of Columbia and Puerto Rico have pending financial literacy legislation in the 2020 legislative session.

Arizona enacted a bill to permit the Department of Economic Security (DES) to allow a course in financial literacy and personal finance to qualify as a work activity as it relates to assistance. Idaho adopted a resolution stating findings of the legislature and encouraging Idaho high schools, colleges, and universities to offer credit-bearing personal finance classes to their students.

Financial Literacy 2020 Legislation
State: Bill Number: Bill Summary:
Alabama HB 414

This bill allows local boards of education to offer instruction in the life skills of personal finance literacy, personal rights, and good citizenship in grades six to 12 as an elective course or as a component in the health education and physical education state courses of study.

Alaska None  
Arizona HB 2010

The state board shall require a separate personal finance course that meets the requirements of §15-720.02 for the purpose of the graduation of pupils from high school. Appropriates the sum of $1 million from the state general fund in fiscal year 2020-2021 to the department of education for distribution to school districts and charter schools to provide personal finance courses as prescribed in §§15-701.01 and 15-720.02, Arizona Revised Statutes, as amended by this act.

Arizona HB 2695

Signed by governor 3/23/20, Chapter 23

Permits the Department of Economic Security (DES) to allow a course in financial literacy and personal finance to qualify as a work activity as it relates to assistance.

Arizona SB 1292

Passed Senate 2/13/20

Requires the state treasurer to promote and raise awareness of financial literacy. Establishes the Treasurer's Financial Literacy Fund.

Arizona SB 1647

Authorizes the presiding judge of the superior court, or a judge designated by the presiding judge, in consultation with the presiding juvenile court judge and criminal court judges, and together with the prosecuting attorney and the public defender or the contracted criminal defense office that provides the services of a public defender, may agree in writing to establish and conduct a pretrial diversion program for primary caregivers. While a defendant is in the primary caregiver diversion program criminal proceedings are suspended without a plea of guilty for a period of not less than six months and not more than 24 months. The primary caregiver diversion program may include all of the following components: 1. Parenting classes. 2. Family and individual counseling. 3. Mental health screening, education and treatment. 4. Family case management services. 5. Drug and alcohol treatment. 6. Domestic violence education and prevention. 7.  Physical and sexual abuse counseling. 8. Anger management. 9. Vocational and educational services. 10. Job training and placement. 11. Affordable and safe housing assistance. 12. Financial literacy courses.

Arkansas None  
California AB 1087

Died pursuant to Art. IV, Sec. 10(c) of the Constitution 2/3/20

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

Died at desk 2/3/20

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 AB 2187

This bill authorizes a school district or charter school to incorporate a financial literacy program into an economics course offered by the local educational agency, and authorizes the curriculum for the financial literacy program to include specified topics. The bill authorizes a local educational agency that chooses to establish the financial literacy program to collaborate with a financial institution, as defined, at no cost to the local educational agency.

California AB 2633

Existing law, the Banking Law, authorizes a bank to participate in a financial education program that involves receiving deposits or paying withdrawals on the premises of, or at a facility used by, a school, subject to specified conditions, including that the bank employees work at the site only to participate in the program. The law requires a bank account by or in the name of a minor to be held for the exclusive right and benefit of the minor. This bill authorizes a bank to participate in a financial education program described above on the premises of a youth agency, as defined. The bill also prohibits a bank from denying a checking or savings account to a person because the person is a minor or from requiring that minor to provide a co-signer or guarantor as a condition of opening a checking or savings account, except as provided. The bill defines “noncustodial account” to mean a checking or savings account that is held by a minor who is 14 years old and on which a person other than the minor is not a co-signer or guarantor. The bill prohibits a bank from engaging in specified practices with respect to a noncustodial account, including by prohibiting a bank from charging a regular monthly fee or inactivity fee on the account or requiring the minor to provide a Social Security number as a condition of opening the account. The bill also requires a bank to collect specified demographic and income information related to noncustodial accounts and to annually report that information to the Commissioner of Business Oversight. Existing law establishes the Bank on California Program, which is a voluntary collaborative initiative that assists Californians in opening a bank or credit union account and saving for the future. This bill requires the program to develop and implement a plan to improve youth financial literacy, access to financial institutions, and awareness of noncustodial accounts.

California AB 3199

Existing law establishes the Instructional Quality Commission and requires the commission to, among other things, recommend curriculum frameworks to the State Board of Education. Existing law requires the state board, concurrently with, but not before, the next revision of textbooks or curriculum frameworks in the social sciences, health, and mathematics curricula, to ensure that these academic areas integrate components of, among other things, financial literacy. Notwithstanding that requirement on the state board, existing law requires the commission, when the history-social science curriculum framework is revised after Jan. 1, 2017, to consider including age-appropriate information for kindergarten and grades 1 to 12, inclusive, regarding certain topics on financial literacy. This bill requires the commission, when the history-social science curriculum framework is revised after Jan. 1, 2017, to also consider including age-appropriate information and content for kindergarten and grades 1 to 12, inclusive, on the importance of estate planning and the use of trusts.

Colorado SB 184

Passed Senate 3/11/20

The bill directs the state board of education (state board) to review, during the first review of standards performed after July 1, 2021, standards relating to the knowledge and skills that a student should acquire in school to ensure that the financial literacy standards for ninth through twelfth grade include an understanding of the costs associated with obtaining a postsecondary degree or credential and how to budget for and manage the payment for those costs, including managing student loan debt; understanding credit cards and credit card debt; and understanding retirement plans, including investments and retirement benefits. The bill adds to the resources contained in the existing financial literacy resource bank created and maintained by the state board specific references relating to assessing the affordability of higher education and how to budget and pay for higher education, as well as how to manage student loan debt; understanding credit cards and credit card debt; and understanding retirement plans, including investments and retirement benefits. Under current law, school districts are encouraged to adopt a financial literacy curriculum and to make completion of a course in financial literacy a graduation requirement. The bill adds assessing the affordability of higher education and how to budget and pay for higher education, as well as how to manage student loan debt, to the suggested financial literacy curriculum, as well as familiarizing students with the process and required forms to apply for financial aid, grants, and scholarships.

Colorado SB 193

The bill creates the financial empowerment office (office) and the director of the office (director) in the department of law to grow the financial resilience and well-being of Coloradans through specified community-derived goals and strategies. The director is appointed by the Colorado attorney general and may hire staff as necessary to perform the duties and functions of the office. The office is authorized to partner with governmental bodies, community organizations, financial institutions, local service providers, and philanthropic organizations to achieve the purposes of the office. The office is also authorized to develop: methods to increase access to safe and affordable financial products; tools and resources that advance, increase, and improve Colorado residents' financial management; and community-informed policies and systems that dismantle systemic barriers to building ownership and wealth for all, especially low-income communities and communities of color. The financial empowerment office is required to: support the organization of community coalitions to define and lead financial resilience strategies; align, support, and build ties to build financial education and well-being in communities across the state; establish a statewide coalition to assist the director in increasing access to safe and affordable banking products that help improve the financial stability of Colorado residents; work with stakeholders to increase access to low-cost, credit-building loans and financial products; work with state authorities and other stakeholders to expand access to safe and affordable banking products with low fees and easy account access; develop technical assistance to launch or expand local financial coaching and counseling efforts; raise money to support coaching, safe and affordable banking, and potential loan funds; collaborate with the office of the state treasurer on the creation and management of a loan fund to support small credit-building loans; and track community feedback on consumer financial abuses and coordinate with the enforcement teams at various state agencies, connect consumers with existing resources, and educate the public on their related consumer rights. Requires the office to submit an annual report to the general assembly regarding the activities of the office and the state of affordable banking access in Colorado.

Colorado SB 200

Creates and implements the Colorado secure savings program (program). The bill specifies the powers and duties of the board in connection with the creation and administration of the program and updates the criteria to which the board is required to adhere in developing the program. The board is required to adopt rules regarding enrollment in the program, contributions to and withdrawals from program accounts, the process for employer exemptions from offering the program, and required disclosures. Includes financial education as a part of the secure savings program implementation to the extent feasible given available resources.

Connecticut HB 5434

Includes instruction of personal financial management in the public school curriculum and as part of the high school graduation requirements; requires the development of a course in personal financial management and a model curriculum for grades kindergarten to 8 that includes personal financial management; and establishes a personal financial management pilot program.

Connecticut SB 392

Establishes a pilot program for the teaching of a personal financial management course 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.

District of Columbia B23-363

Amends the Homeless Services Reform Act to create a financial literacy and entrepreneurial program that will provide individuals the permanent supportive housing program with knowledge on how to better manage finances, credit, and debt, to make more financially responsible decisions, and to improve case management.

Florida HB 1423

Died in committee 3/14/20

Relates to courses of study for elementary students; amends §1003.02, F.S.; requiring district school boards to provide age-appropriate courses of study in health education and financial literacy for specified students.

Florida HB 7051

Authorizes certain student athletes to earn compensation for their name, image, likeness, or persona; provides requirements for such compensation, student athletes, postsecondary educational institutions, athlete agents and attorneys; provides health and disability insurance requirements relating to student athletes and postsecondary educational institutions. Requires a financial literacy and life skills workshop for a minimum of 5 hours at the beginning of the intercollegiate athlete's first and third academic years. The workshop shall, at a minimum, include information concerning financial aid, debt management, and a recommended budget for full and partial grant-in-aid intercollegiate athletes based on the current academic year's cost of attendance. The workshop shall also include information on time management skills necessary for success as an intercollegiate athlete and available academic resources. The workshop may not include any marketing, advertising, referral, or solicitation by providers of financial products or services.

Florida SB 646

Enrolled 3/13/20

Authorizes certain intercollegiate athletes to earn compensation for the use of their names, images, or likenesses; prohibits a postsecondary educational institution and other entities, institutions, and their employees from compensating intercollegiate athletes or prospective intercollegiate athletes for the use of their names, images, or likenesses; prohibits the revocation or reduction of certain aid as a result of intercollegiate athletes earning certain compensation or obtaining specified representation; provides requirements for certain athlete agents, etc. Requires each postsecondary institution to conduct a financial literacy and life skills workshop for intercollegiate athletes.

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 5, grades 6 through 8, and grades 9 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.

Georgia HB 1091

Relates to competencies and core curriculum; requires all students attending secondary schools that receive state funds to complete and pass a separate semester course focused solely on economics and personal finance; provides that the state Board of Education shall prescribe the method and manner of providing the required course; provides for curriculum content and teacher training by the Department of Education and local school boards, as appropriate; provides for applicability.

Guam Not available  
Hawaii HB 1816

Requires HHFDC to establish a homebuyers' club program and provide financial aid to participants. Establishes a full-time permanent position to administer the program. Authorizes DHS to offer long-term case management for low-income individuals and families and individuals and families that are were homeless or at-risk for homelessness and accept financial aid for rent. In providing long-term case management services, the department may include financial counseling and education as part of the case management services. Appropriates funds.

Hawaii HB 2066

Passed House 2/27/20

Creates a down payment guarantee program for certain first-time homebuyers. Appropriates funds. Requires successful completion of a financial education program provided by a financial education agency approved by the corporation to be eligible.

Hawaii HCR 188
HR 166

Urges the department of education to implement a financial literacy curriculum for high school students.

Hawaii SB 1073

Establishes licensure and licensure renewal requirements for certain persons or entities to engage in the business of cashing checks for a fee to persons in the state. The commissioner shall determine the qualifications necessary for an applicant to obtain a license; provided that the applicant shall provide written documentation that the applicant and its authorized delegates have satisfactorily completed financial literacy requirements as determined by the commissioner.

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.

Hawaii SB 2552

Requires the state to match up to $100,000 per calendar year for college savings account funds deposited within a student-run financial institution; provided that the account holder completes a financial education program. Appropriates funds.

Hawaii SB 3126

Passed Senate 3/3/20

Establishes a working group within the department of public safety to study the feasibility of a pilot program to reduce recidivism, focusing on providing inmates with vocational training, in addition to business, entrepreneurial, and financial literacy education. Requires a report to the legislature.

Hawaii SCR 153

Urges the department of education to implement a financial literacy curriculum for high school students.

Hawaii SR 116

Urges the department of education to implement a financial literacy curriculum for high school students.

Idaho SCR 128

Adopted 3/18/20

States findings of the legislature and encourages Idaho high schools, colleges, and universities to offer credit-bearing personal finance classes to their students.

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 HB 5186

Amends the School Code to require a school district to provide instruction to and a student enrolled in grades 6 through 8 to take a unit of instruction in family and consumer science. Sets forth what topics the instruction must include.

Illinois HR 768

Declares April 2020 as Financial Literacy Month in the state of Illinois.

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.

Illinois SR 1069

Declares April 2020 as Financial Literacy Month in the state of Illinois.

Indiana SB 328

Establishes a personal financial responsibility program (program) and personal financial responsibility fund (fund) to award grants, after June 30, 2021, to eligible entities to implement teacher professional development programs for training in teaching personal financial responsibility. Requires the state board of education to: (1) administer the program and fund; and (2) develop guidelines to award grants from the fund to eligible entities. Makes teachers eligible for a supplemental payment if they successfully complete personal financial responsibility training. Expands instruction concerning personal financial responsibility to include entrepreneurship and free market economic systems. Requires the department of education (department) to create or approve the criteria for a personal financial responsibility certificate. Allows a student to receive a Core 40 academic honors designation if the student successfully earns the certificate. Requires the department to post resources and best practices about personal financial responsibility on its internet web site.

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 301

Amends KRS 158.1411 to require successful completion of a one-half credit course on financial literacy as a requirement for high school graduation.

Louisiana None  
Maine None  
Maryland HB 508

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 in every public high school in the county; and requires students to complete a course in financial literacy in order to graduate from a public high school.

Maryland HB 644
SB 617

Requires the State Department of Education to report to the Senate Education, Health, and Environmental Affairs Committee and the House Committee on Ways and Means, on or before Dec. 1 each year, on the implementation by local school systems of certain standards and objectives in the program of instruction in financial literacy specified in COMAR 13A.04.06.

Maryland HB 1099
SB 822

Alters homebuyer education requirements for a loan recipient in the Down Payment and Settlement Expense Loan Program in the Department of Housing and Community Development to require the loan recipient to take a homebuyer education course or complete online homebuyer education with a HUD-approved product and require the recipient to receive one-on-one counseling for at least 1 hour, in person or by phone; and requiring the secretary of Housing and Community Development to make a certain annual report by Dec. 31.

Maryland HB 1499

Requires the State Board of Education to develop curriculum content for a semester-long course in financial literacy and to establish criteria for a student to demonstrate financial literacy competency; requires each county board of education to implement the financial literacy curriculum content and to require students to demonstrate financial literacy competency in order to graduate from a public high school in the county; etc.

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 179

Relates to the establishment of an interagency council to address inequality, promote opportunity and end poverty. In order to qualify as a community action agency, such agency must be one which is community based and operated as set forth in this section which includes, but is not limited to, programs to assist low income participants, including the elderly poor, such as programs to: secure and maintain meaningful employment, attain an adequate education; provide and maintain adequate housing and a suitable living environment; receive energy assistance and weatherization services; obtain financial education; avoid homelessness; develop assets; obtain emergency assistance through loans or grants to meet immediate and urgent individual and family needs, including the need for health services, nutritious food, housing and employment-related assistance; remove obstacles and solve personal and family problems which block the achievement of self-sufficiency; and achieve greater participation in the affairs of the community.

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 1224

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

Massachusetts HB 4137

Relates to educational opportunities for students.

Massachusetts HB 4145

Relates to the text of House Bill 4137, being the House amendment of the Senate Bill relative to educational opportunity for students, SB 2365, as changed by the House Committee on Bills in Third Reading, and as amended by the House, Oct. 23, 2019.

Massachusetts HB 4255

Establishes a statewide Financial Literacy Commission.

Massachusetts HB 4488

Establishes pilot program for youth development. Programs and activities shall be designed based on youth development research findings, with emphasis directed toward the development and enhancement of social emotional development, anti-violent and anti-gang behaviors, positive social behaviors, local and statewide labor pools, job opportunities and career options, civic engagement , financial literacy, and positive future outlook, community-building, the performing and creative arts, and preventing teen-age pregnancies.

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 91

Addresses inequality, promoting opportunity and ending poverty. In order to qualify as a community action agency, such agency must be one which is community based and operated as set forth in this section which includes, but is not limited to, programs to assist low income participants, including the elderly poor, such as programs to: secure and maintain meaningful employment, attain an adequate education; provide and maintain adequate housing and a suitable living environment; receive energy assistance and weatherization services; obtain financial education; avoid homelessness; develop assets; obtain emergency assistance through loans or grants to meet immediate and urgent individual and family needs, including the need for health services, nutritious food, housing and employment-related assistance; remove obstacles and solve personal and family problems which block the achievement of self-sufficiency; and achieve greater participation in the affairs of the community.

Massachusetts SB 262

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

Massachusetts SB 2365

Substituted by SB 2412 11/19/19

Relates to educational opportunity for students.

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 SB 600

Amends the Revised School Code, amends provisions regarding personal financial literacy and personal economics.

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 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.

Minnesota HF 3583
SF 3246
Relates to education finance; appropriates money for Girls in Action programming grant.
Minnesota HF 3650
SF 3867

Relates to education finance; increases and makes permanent funding for the Minnesota Council on Economic Education; appropriates money.

Minnesota HF 4047
SF 3009

Relates to housing; appropriates money to Wright County Community Action for homeownership education, counseling, and training services.

Minnesota HF 4429
SF 3422

Relates to economic development; modifies the pay-for-performance grant program. Includes that the program must provide education and training in: basic skills, such as reading, writing, financial literacy, digital literacy, mathematics, and communications.

Minnesota SF 3219

Relates to education finance; appropriates money for financial literacy instruction grants.

Minnesota SF 3788

Relates to education; requires an online personal finance class for high school graduation.

Mississippi HB 336

Passed House 3/4/20

Creates the Mississippi workforce development study committee; provides that the Mississippi workforce development study committee shall review the curriculum in k-12 schools that is designed to promote workforce development and preparation and shall develop and design a curriculum that meets the workforce development needs of the state of Mississippi; provides for the membership of the Mississippi workforce development study committee; requires the Mississippi workforce development study committee to submit a report of its findings to the legislature and governor no later than Nov. 30, 2020.

Mississippi HB 537

Died in committee 3/3/20

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; authorize the department to make monthly withholdings from the recipient's paycheck until the loan is repaid.

Mississippi SB 2589

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; provides that the gross household income of individual retirement account holders may not exceed 185%. Before becoming eligible to receive matching funds to pay for qualified purposes, individual development account owners shall complete a financial literacy education course offered by a qualified financial institution, a qualified fiduciary organization, or a governmental entity in accordance with federal guidelines.

Missouri HB 2361

Currently, a person who was wrongfully convicted and subsequently exonerated through DNA evidence may receive restitution for every day the person was incarcerated for the wrongful conviction. However, the person has no civil cause of action. This bill repeals the language regarding restitution and provides a civil cause of action for any person who was incarcerated for a wrongful conviction, regardless of how that person was subsequently exonerated. In addition to the damages, the claimant may also be awarded other nonmonetary relief as sought in the complaint including, but not limited to, counseling, housing assistance, and personal financial literacy assistance, as appropriate.

Missouri SB 1062

This bill allows for money in the "State Legal Expense Fund" to be used for the payment of any claim of any amount required by any final judgment rendered by a court for the purposes of paying judgments arising from claims of individuals who were wrongfully convicted. In addition to the damages, the claimant may also be awarded other nonmonetary relief as sought in the complaint including, but not limited to, counseling, housing assistance, and personal financial literacy assistance, as appropriate.

Montana No regular 2020 session  
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 1063

Specifies that it shall be the duty of the state treasurer to promote financial literacy.

Nebraska LB 1209

Authorizes counties to expand their diversion programs to include caregiver diversion programs, which allow offenders to rehabilitate themselves while still supporting their children and families. A caregiver diversion program may include, but is not limited to, the following components: (a) Parenting classes; (b) Family and individual counseling; (c) Mental health screening, education, and treatment; (d) Family case management services; (e) Drug and alcohol treatment; (f) Domestic violence education and prevention; (g) Physical and sexual abuse counseling; (h) Anger management; (i) Vocational and educational services; (j) Job training and placement; (k) Affordable and safe housing assistance; and (l) Financial literacy courses.

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 No regular 2020 session  
New Hampshire HB 1501

Passed House 3/12/20

This bill establishes a commission to study financial literacy in New Hampshire and to make recommendations for a multi-generational approach to financial education.

New Jersey AB 1282
SB 792

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 3062
SB 1196

Establishes three-year Financial Empowerment Pilot Program. The purpose of the pilot program shall be to address financial literacy and empowerment issues for economically vulnerable individuals in the State through municipal financial empowerment centers.

New Jersey AJR 46

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

New Jersey AR 62

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

New Mexico None  
New York AB 1357
SB 2542

Establishes that instruction in financial education be provided to pupils in grades 9 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 1845

Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages and provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.

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 3262
SB 6079

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations. Community investment by credit unions shall be used to support any of the following purposes, as determined by the credit union, in any community where such credit union has authority to provide services, provided the credit union shall prioritize low-income communities when choosing where to invest: (a) minority and women-owned business enterprises in the community; or (b) affordable housing (including multifamily rental housing) for low- and moderate-income individuals in the community; or (c) community services targeted to low- and moderate-income individuals in the community; or (d) activities that revitalize or stabilize the community including low- or moderate-income geographies, or designated disaster areas; or (e) financial literacy.

New York

AB 3421
Enacting clause stricken 1/15/20

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 4 through 8.

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
Passed Senate 1/27/20

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.

New York AB 9141

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 SB 4545

Provides that there shall be no solicitation for credit card holders through state or city university of New York unless credit education courses are provided.

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 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 No regular 2020 session  
N. Mariana Islands Not available  
Ohio HB 519

Enacts §5.266 of the Revised Code to designate April as "Financial Literacy Month" in Ohio.

Oklahoma HB 3002

Relates to schools; relates to the Passport to Financial Literacy Act; requires high school seniors to complete the Free Application for Federal Student Aid.

Oklahoma

HB 3389
Passed House 3/3/20

Relates to schools; requires study and recommendations to the legislature regarding certain graduation standards, including financial literacy; provides study purpose; provides study contents; requires engagement with stakeholders in crafting recommendations; requires submission of recommendations by certain time.

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.

Oklahoma SB 1693

Relates to workforce development; creates the Oklahoma Workforce and Economic Development Act; provides short title; creates a division in the Department of Labor; names division the Oklahoma Office of Workforce Development; requires financial literacy programs and materials.

Oregon HB 4003

Authorizes the Housing and Community Services Department to provide grants, loans and technical assistance to organizations increasing homeownership program access to persons of color. The Housing and Community Services Department, in consultation with the Oregon Housing Stability Council, shall provide grants, loans and technical assistance to organizations that, in working with households with income at or below area median income, attempt to increase access for persons of color to programs and services that assist with homeownership, including counseling, financial literacy, post-purchase counseling and down payment assistance.

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 511

Designates the week of Sept. 29 through Oct. 5, 2019, as "Financial Planning Week" in Pennsylvania.

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 400

Provides for student loan debt data collection and report, for procedures for student loans, for disclosure of higher education costs, for a student loan ombudsman, for higher education assistance by employers, for duties of the Department of Education, Department of Banking and Securities and Department of Revenue; establishes the Student Loan Refinancing Program; authorizes the Pennsylvania Higher Education Assistance Agency to issue bonds to fund the Student Loan Refinancing Program; establishes the Student Loan Refinancing Fund; provides for student loan debt tax credit, for application for tax credit, for taxpayer eligibility, for carryover and carryback, for outreach and marketing, for guidelines, for employer incentive for higher education assistance tax credit, for application for tax credits and for carryover, carryback and assignment of tax credits; and imposes penalties.

Pennsylvania

SB 723
Passed Senate 9/23/19

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 7605

This bill provides that the council on elementary and secondary education be encouraged to maintain, publish and update statewide standards for instruction of personal finance in public high schools.

Rhode Island SB 2380

This bill requires the council on elementary and secondary education, in consultation with the Rhode Island department of education, to develop and approve statewide academic standards for the instruction of consumer education in public high schools by no later than Dec. 31, 2020.

A. Samoa Not available  
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
Passed House 1/22/20

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 3322

Provides that disbursements from the Financial Literacy office may be made only on the written authorization of the individual designated by the school district and only for the purposes specified. A person violating this section is guilty of a misdemeanor and, upon conviction, must be fined $5,000 or imprisoned for not more than six months, or both.

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 HB 4576

Requires the procurement of a student loan default aversion and financial literacy program.

South Carolina HB 4749

Adds chapter 33 to title 37 entitled the "South Carolina predatory practice protection act" so as to prohibit an agent of a for-profit college from advertising without providing certain information, requires the South Carolina department of consumer affairs to conduct an annual audit of a for-profit college, provides that the debt a student incurs at a for-profit college cannot be used against a public college or technical school for accreditation purposes, requires a short-term loan lender to provide a financial literacy course before making a short-term loan or undertaking collection actions after a default on a short-term loan, requires a lender to establish a good faith belief that the borrower can afford the short-term loan based on certain factors, sets a limit for the annual percentage rate for a short-term loan, and provides penalties.

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 Carolina SB 298

Requires, by Dec. 31, 2019, in accordance with the purposes and regulations of the U.S. Department of Education regarding the provisions of the Higher Education Opportunity Act of 2009 as it pertains to student loan default and related matters, the State Fiscal Accountability Authority (SFAA) shall utilize the state's consolidated procurement code to procure a statewide centralized vendor to administer a "Student Loan Default Aversion and Financial Literacy Program". Funding for the program must not come from new state appropriations but from existing funds held in a state-owned account of the South Carolina State Education Assistance Authority (authority). The only funds of the authority that may be utilized by SFAA for these purposes are existing funds that have been specifically held by the authority for expenditure, the purposes of which must include default aversion and financial literacy outreach activities as permitted by federal law.

South Carolina SB 419
Passed Senate 3/5/20

Adds §59-29-17 to provide that each high school shall offer a one-half credit course in personal finance as an elective that students may use to complete graduation requirements. The curriculum for this course option as a partial graduation requirement shall incorporate competencies pursuant to Financial Literacy Instruction in Act 38 of 2005.

South Carolina SB 639

Provides that disbursements from the Financial Literacy office may be made only on the written authorization of the individual designated by the school district and only for the purposes specified. A person violating this section is guilty of a misdemeanor and, upon conviction, must be fined $5,000 or imprisoned for not more than six months, or both.

South Carolina SB 935

Amends title 59 of the 1976 code, relating to education, by adding chapter 157, to provide that a student athlete may receive compensation for the use of his name, image, or likeness and to provide for limitations and disclosure requirements; amends chapter 101, title 59 of the 1976 code, relating to colleges and institutions of higher learning generally, by adding article 9, to provide that participating institutions in this state shall annually award stipends to a student athlete who participates in an intercollegiate sport and maintains a good academic standing during the previous year and to provide conditions for the receipt of stipends; amends chapter 101, title 59, relating to colleges and institutions of higher learning generally, by adding article 10, to provide that participating institutions in this state shall create a student athlete trust fund and fund the trust with a percentage of the intercollegiate sport gross revenue, to provide that $5,000 will be deposited into the fund on a student athlete's behalf for each year that he maintains good academic standing, to provide that the total trust fund amount may not exceed $25,000 per student athlete, to provide that a participating institution shall provide a one-time payment to each student athlete in the full amount deposited in the fund on his behalf after the fulfillment of all academic requirements for graduation and completion of a state-approved financial literacy course, and provides conditions for a receipt of trust fund payment; and defines necessary terms.

South Dakota HB 1062

Increases the financial empowerment of state residents. Creates the financial empowerment fund. Requires the state treasurer to support the development of and promote curricula to increase the financial empowerment of all residents, with special emphasis on the empowerment of: (1) Students attending an institution of higher education in this state; (2) Students enrolled in an elementary or high school in this state; (3) Individuals with disabilities; (4) Individuals and families below the federal poverty level; (5) Military veterans; (6) Active duty personnel stationed in this state; and (7) Retirees or individuals eligible to retire.

Tennessee HB 1248
SB 750

Specifies that the report provided by the Tennessee financial literacy commission to the general assembly must be submitted by Feb. 1 of each year.

Tennessee HB 2581
SB 2609

Requires the Tennessee financial literacy commission to post its annual report on the department of the treasury website.

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 No regular 2020 session  
Utah None  
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.

Vermont HB 804

This bill proposes to facilitate and provide funding for the implementation of community schools that provide all students with equitable access to a high-quality education. Provides that community schools include active family and community engagement, which brings students’ families and the community into the school as partners in children’s education and makes the school a neighborhood hub, providing adults with a facility to access educational opportunities they want, including coordinating services with outside providers to offer English as a second language classes; green card or citizenship preparation; computer skills; art; financial literacy; career counseling; job skills training; services for addiction prevention, treatment, and recovery; and other programs that bring community members into the building for meetings or events.

Virginia HB 148

Requires the director of the Department of Housing and Community Development to prepare a notice form, to be made available on the Department's website, for signature by the parties to a contract for the sale of residential real estate, advising the purchaser to avail himself of educational programs established, administered, or promoted by the director. The bill also requires that the owner of residential real property provide such notice to the purchaser prior to the ratification of a real estate purchase contract.

U.S. Virgin Islands None  
Washington None  
West Virginia HB 2775
Passed House 2/18/20

Amends and reenacts §18-2-7c of the Code of West Virginia, 1931, as amended, relating to requiring each high school student to complete a one credit course of study in personal finance as a requirement for high school graduation; end-of-course examination; state board development of standards.

West Virginia HB 3008

Amends the Code of West Virginia, 1931, as amended, by adding thereto a new article, and nine new sections designated §25-8-1, §25-8-2. §25-8-3, §25-8-4, §25-8-5, §25-8-6, §25-8-7, §25-8-8, and §25-8-9; all relating to creation of a task force to provide comprehensive reentry transitional services to offenders reentering communities. 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 HB 4036

Amends and reenacts §18-2-7c, of the Code of West Virginia, 1931, as amended, relating to requiring the State Board of Education to develop curriculum content for a semester-long financial literacy course; requiring all county boards of education implement the financial literacy course in all high schools in the particular county; and require all students to satisfactorily complete a course in financial literacy as a graduation requirement.

West Virginia SB 107

Amends and reenacts §18-2-9 of the Code of West Virginia, 1931, as amended, relating to requiring satisfactory completion of a class in personal finance to graduate from high school.

West Virginia SB 299

Amends and reenacts §18-2-7c of the Code of West Virginia, 1931, as amended, relating to requiring the State Board of Education to develop curriculum content for a semester-long financial literacy course; requiring all county boards of education implement the financial literacy course in all high schools in the particular county; and requiring all students to satisfactorily complete a course in financial literacy as a graduation requirement.

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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