Financial Literacy 2022 Legislation

4/25/2022

Caucasian woman holding a calculator

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-seven states, Puerto Rico and the District of Columbia have addressed financial literacy legislation in 2022. Some examples:

  • Florida revised 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; specifies the requirements of the one-half credit of instruction in personal financial literacy and money management.
  • Kentucky provided that an institution or an association shall not prohibit a student-athlete from lawfully earning compensation through a name, image, and likeness agreement with a third party or from obtaining an athlete agent and shall not penalize an athlete for doing so and required that an institution provide the institution's student-athletes with a financial literacy and life skills education workshop for a minimum of five hours at the beginning of the athlete's first and third academic years.
  • Mississippi created the "comprehensive career and technical education reform act"; requiring the office of workforce development, subject to appropriation by the legislature, to pilot a career coaching program to support middle schools and high schools as students are exposed, prepared and connected to career avenues within and beyond the classroom setting. Students pursuing a career technical education pathway must complete the 24 course unit requirements for a regular high school diploma, which may include a course on personal finance.
  • Oregon created a procedure for filing a petition for compensation for wrongful conviction. Compensation may include access to existing state, local or other programs that provide services, including, but not limited to, counseling, housing assistance, eligibility for medical assistance as defined in ORS 414.025, educational assistance, job training, legal services to regain custody of children, assistance with food and transportation and personal financial literacy assistance, as appropriate.
  • Washington provided student financial literacy education; provides that the financial education public-private partnership shall establish a grant program to provide assistance to school districts for the purpose of integrating financial literacy education into professional development for certificated staff.
  • Delaware, Michigan and Rhode Island declared April 2022 as Financial Literacy Month in the state.

The box allows you to conduct a full-text search or type the state name.

 

 

Financial Literacy 2022 Legislation

State:

Bill Number:

Bill Summary

Alabama

HB 259

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.

Alabama

HJR 64
Signed by governor 4/13/22, Act 305

Supports the importance of financial education. Directs the state treasurer to research financial education programs and events within this state and other states, and to provide the President Pro Tempore of the Senate and the Speaker of the House of Representatives with a written course of possible action promoting financial literacy that would benefit all Alabamians on or before the first day of the 2023 Regular Session.

Alaska

None

 

Arizona

HB 2278
Passed House 2/15/22

Instructs the State Board of Education to develop and adopt academic competency requirements for an alternative mathematics graduation pathway that includes algebra, geometry and another advanced mathematics course. Specifies that the advanced mathematics course may include personal finance, computer science, statistics or business mathematics.

Arizona

SB 1448

Authorizes a pretrial diversion program for primary caregivers. 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 423
Died pursuant to Art. IV, §10(c) of the Constitution 2/2/22

Requires the State Department of Education to implement, commencing with the 2022‑23 school year, a financial literacy pilot program. Authorizes a school district or charter school to voluntarily incorporate a financial literacy program into a course, for pupils in grade 11 or 12, offered by the local educational agency. Requires the department to submit a report with findings on the pilot program to the Legislature on or before January 1, 2026.

California

AB 639
Died pursuant to Art. IV, §10(c) of the Constitution 2/2/22

Authorizes a school district or charter school to incorporate a financial literacy program into an economics course offered by the local educational agency. Authorizes the curriculum for the financial literacy program to include specified topics.

California

AB 1928

Authorizes the counties of San Joaquin, Santa Clara, and Yolo to develop, manage, staff, and offer a secured residential treatment pilot program, known as Hope California, for individuals suffering from substance use disorders who have been convicted of qualifying drug‑motivated felony crimes, as specified. The bill requires Hope California facilities to provide participants with an individualized medically assisted treatment program and provide participants with support services, including instruction on, among other things, money management, career planning, and applying for employment.

California

AB 2051

This bill requires the superintendent of Public Instruction, subject to an appropriation of one-time funds for this purpose in the annual Budget Act or another statute, to allocate funding for the purchase of standards-aligned instructional materials in financial literacy for kindergarten and grades 1 to 12, inclusive, and for professional development in that content, as provided. The bill requires the superintendent to allocate these funds to school districts, county offices of education, charter schools, and the state special schools on the basis of an equal amount per unit of average daily attendance, as those numbers were reported at the time of the first principal apportionment for the 2019–20 fiscal year. The bill requires a school district, county office of education, charter school, or state special school to expend allocated funds for professional development or instructional materials in financial literacy that is aligned to the history-social science curriculum framework adopted by the state board and the financial literacy subject matter recommended considered by the commission, as provided.

California

AB 2215

This bill requires the State Department of Education to develop, among other things, curriculum, instructional materials, and professional development resources related to personal finance topics, as provided. The bill also requires the department to communicate to school districts, county offices of education, and charter schools the financial literacy content in the history-social science framework and in other frameworks, as well as strategies for expanding the provision, and increasing the quality, of financial education instruction. The bill requires the department to review financial education curriculum available to local educational agencies and update on an ongoing basis the financial literacy resources listed on its internet website. The bill makes implementation of all of its provisions contingent upon an appropriation of funds by the Legislature for these purposes in the annual Budget Act or another statute.

California

AB 2250

The bill, contingent upon an appropriation by the Legislature, creates a three-phasepilot program for women being released from prison that would, among other things, be responsive to each woman’s gender and culture, create an individualized reentry program, develop professional skills including financial literacy, provide assistance in the form of subsidies, and focus on family reunification, as provided.

Colorado

HB 1366

The bill establishes a number of new programs concerning postsecondary career and education options for students, including updating the financial literacy resource bank to include more information and training concerning postsecondary financial aid.

Colorado

HB 1389

The bill establishes the financial literacy and exchange program (program) within the division of housing (division). The program allows the division to create FLEX accounts for certain people who sign FLEX agreements and participate in eligible housing assistance voucher programs.

Connecticut

HB 5315

This bill: 1. creates the Financial Wellness Trust Fund, to be held by the state treasurer, to promote state residents’ financial education; 2. establishes an eight-member Financial Wellness Trust Fund Advisory Committee; and 3. authorizes the state treasurer to (a) create a Center for Financial Wellness in his office to improve state residents’ financial wellness and (b) use the Financial Wellness Trust Fund to support the center, among other things.

Delaware

HB 271
Passed both chambers 3/22/22

Charges the Department of Services for Children, Youth and Their Families with providing transitional and independent living services for youth of a specified ages; relates to the Division of Family Services contracts for case management services for youth of a specified ages, with services designed to promote self-sufficiency and responsible living for young adults who are aging out of foster care; relates to participants receive life skills training and personal development.

Delaware

HCR 22
Adopted 4/6/22

Proclaims the month of April 2022 as “Financial Literacy Month,” in the state of Delaware.

District of Columbia

B24-81

Amends the Financial Literacy Council Establishment Act of 2007 to establish a financial literacy education program.

District of Columbia

B24-235

Provides for the creation and governance of a program giving youth who have aged out of the foster care system a $1,000 stipend each month for economic support; and provides access to financial literacy advice and tools for money management.

District of Columbia

B24-445

Permits collegiate student athletes to earn compensation from third parties for the use of their name, image, or likeness; prohibits student athletes from earning compensation for an endorsement of a certain product; prohibits institutions of higher education and athletic associations from unduly limiting the ability of student athletes to earn compensation for the use of their name, image, and likeness; requires institutions of higher education to offer certain financial literacy programming to athletes.

Florida

HB 1115

Relates to high school graduation requirements in personal finance; revises required credits for 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; authorizes students to earn one‑half credit in personal financial literacy and money management as elective.

Florida

HB 3613
Withdrawn from consideration 3/12/22

Provides an appropriation for the Housing and Financial Education Center ‑ Kissimmee.

Florida

HB 7065
Signed by governor 4/11/22, Chapter 67

Provides that beginning in specified fiscal year, the Department of Children and Families and the Department of Juvenile Justice shall identify children who are dually involved with both systems of care; provides that the departments shall collaboratively take appropriate action within available resources to meet the needs of dually involved children more effectively and shall jointly submit to the Legislature a quarterly report; provides for Responsible Fatherhood Month. Before a young adult receives funding for postsecondary education, the department, or an agency under contract with the department, shall assess the young adult’s financial literacy and executive functioning, self-regulation, and similar skills that are important for successful independent living and the completion of postsecondary education. The assessment must be included as part of the transition plan required under §39.6035. Within a reasonable time after completing the assessment, the department, or an agency under contract with the department, must provide information and referrals for any voluntary services that are recommended by the assessment to the young adult to assist in strengthening any necessary s

Florida

HB 9245
Withdrawn from consideration 3/12/22

Provides an appropriation for the Supporting Financial Education and Stability ‑ United Way Suncoast.

Florida

SB 1054
Signed by governor 3/22/22, Chapter 17

Relates to financial literacy instruction in public schools; provides a short title; amends §1003.41, F.S.; revises the requirements regarding financial literacy for the Next Generation Sunshine State Standards; amends §1003.4282, F.S.; 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; specifies the requirements of the one-half credit of instruction in personal financial literacy and money management; modifies the requirements for the career and technical education graduation pathway option; amends §1002.3105, F.S.; modifies the requirements for the award of a standard high school diploma for Academically Challenging Curriculum to Enhance Learning options; provides an effective date.

Georgia

HB 681
To House for concurrence 4/4/22

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 literacy for students in 10th or 11th grade; provides for related matters; provides for an effective date; repeals conflicting laws; and for other purposes.

Georgia

SB 220
Sent to governor 4/7/22

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 program of study in financial literacy for students in 10th or 11th grade; provides for related matters; provides for an effective date; repeals conflicting five laws; and for other purposes.

Guam

None

 

Hawaii

HCR 68
HR 61
SCR 11

Urges the Department of Education to include the teaching of financial literacy in the existing personal transition plan course requirement for each student.

Hawaii

SB 220
Passed Senate 2/19/21

Requires the Department of Education to implement a service-learning curriculum to develop student character, values, self-esteem, civic responsibility, financial literacy, and knowledge of local community issues and concerns though community service volunteer work.

Hawaii

SB 1004
To conference committee 4/16/21

Begins with the 2021‑2022 school year, requires the Department of Education to include the teaching of financial literacy in the personal/transition plan requirement for each student.

Hawaii

SB 1352

The office of community services shall establish a workforce development grant program that shall award grants to certain organizations that provide workforce development services to native Hawaiians. Provide financial literacy services and associated follow-up services.

Hawaii

SB 2201

Beginning with the 2023-2024 school year, requires the Department of Education to include the teaching of financial literacy in the personal transition plan requirement for each student.

Hawaii

SB 2532
Passed Senate 3/8/22

Requires the department of public safety to establish a working group to create a pilot program designed to reduce recidivism by providing business and entrepreneurial skills and financial literacy education to inmates. Requires a report to the Legislature. Appropriates moneys.

Idaho

HB 535

Requires the state treasurer to provide financial education, as the treasurer deems appropriate, to the general public for the purpose of increasing financial literacy and preparedness for individual retirement, including but not limited to partnering with other state agencies to leverage outreach and public education opportunities.

Illinois

HB 157

Amends the School Code. Provides that, beginning with the 2021-2022 school year, each school district maintaining any of grades six through eight 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 1175
Passed both chambers 4/6/22

Amends the Student-Athlete Endorsement Rights Act. Adds a provision encouraging postsecondary educational institutions to provide financial literacy, brand management, and life skills programming designed for student athletes. Makes other changes.

Illinois

HB 3131

Creates the Equity through Financial Literacy Task Force Act. Creates the Equity through Financial Literacy Task Force. Provides for membership of the task force. Provides that no less than one-third of the members of the task force shall reside in areas outside of the Chicago metropolitan area. Provides that task force members shall serve without compensation, except that the young adult and college student appointees of the task force shall receive a stipend for serving as members. Provides for meetings of the task force. Provides that the Office of the Governor shall provide administrative and other support to the task force. Provides for duties of the task force. Requires the task force to submit a report of recommendations to the General Assembly and governor on or before Dec. 31, 2022. Provides for the content of the report. Provides purpose and legislative intent provisions. Repeals the Act on Jan. 1, 2023.

Illinois

HB 4391

Amends the Courses of Study Article of the School Code. Requires students in grades nine through 12 to study and successfully complete (rather than just study) courses that include instruction in the area of consumer education. Requires the instruction in consumer education to include planning and paying for postsecondary education and studying economics. Beginning with the 2024-2025 school year, provides that the State Board of Education shall require at least one full school year of instruction in consumer education.

Illinois

HB 4571

Amends the State Finance Act and the Courses of Study Article of the School Code. Renames the Financial Literacy Fund the High School Financial Literacy Fund. With respect to consumer education, provides that, beginning with the 2024-2025 school year, a school district shall require an individual to have a professional educator license with a validation in financial literacy to provide financial literacy instruction, unless the individual holds a professional educator license with an endorsement in social studies, family and consumer sciences, or business education. Sets forth provisions concerning the validation. With respect to the three years of mathematics required to receive a high school diploma, provides that a one semester course on financial literacy instruction may count toward one semester of mathematics, unless a pupil counts an Advanced Placement computer science course toward the three years of mathematics.

Illinois

HB 4582

Creates the Second Chance State Housing Program under which the Department of Returning Resident Affairs shall provide decent, affordable single-family and multi-family housing opportunities to returning residents who have been prescreened for and referred to the program by a hub site operator and have completed a 12-hour course conducted by or through a hub site operator using a U.S. No person shall participate in the Second Chance State Housing Program unless the person is a returning resident who: (A) has been prescreened for and referred to the Second Chance State Housing Program by a hub site operator; and (B) has completed a 12-hour course conducted by or through a hub site operator using a U.S. Department of Housing and Urban Development-approved housing counselor to prepare the returning resident to be a homeowner or tenant. The course shall include, without limitation, training on financial literacy and responsibility, budgeting and financial management, the rental and homebuying process, basic elements of a real estate contract or lease, residential financing, title insurance, real estate taxes, utilities, insurance, basic home maintenance, delinquency and foreclosure prevention, Second Chance State Housing Program requirements, and other practical and legal requirements pertaining to being a homeowner or tenant.

Illinois

HB 5740

Amends the School Code. Provides that one-half year of personal financial literacy is required as a prerequisite to receiving a high school diploma. Provides the topics of instruction for the personal financial literacy requirement.

Illinois

SB 1556

Creates the Financial Literacy Task Force Act. Creates the Financial Literacy Task Force to study and identify best practices for increasing the financial capacity of young adults in Illinois and develop recommendations for increasing the availability, uptake, and positive outcomes of financial education in this state's postsecondary academic institutions. Provides for membership of the task force. Provides that members appointed to the Commission must reflect the racial, ethnic, religious, and geographic diversity of this state. Provides for administrative support for the task force. Provides meeting requirements. Provides that task force members shall serve without compensation. Provides that on or before Dec. 31, 2022, the task force shall submit a report to the governor and General Assembly regarding financial literacy education in postsecondary academic institutions. Provides for contents of the report. Repeals the Act on Jan. 1, 2024.

Illinois

SB 3414

Creates the Second Chance State Housing Program under which the Department of Returning Resident Affairs shall provide decent, affordable single-family and multi-family housing opportunities to returning residents who have been prescreened for and referred to the Program by a hub site operator and have completed a 12-hour course conducted by or through a hub site operator using a U.S. Department of Housing and Urban Development-approved housing counselor. The course shall include, without limitation, training on financial literacy and responsibility, budgeting and financial management, the rental and homebuying process, basic elements of a real estate contract or lease, residential financing, title insurance, real estate taxes, utilities, insurance, basic home maintenance, delinquency and foreclosure prevention, Second Chance State Housing Program requirements, and other practical and legal requirements pertaining to being a homeowner or tenant.

Illinois

SB 3902
Passed both chambers 4/1/22

Provides for required high school courses, including for pupils entering the ninth grade in specified school years, one year of a course that includes intensive instruction in computer literacy, which may be English, social studies, or any other subject and which may be counted toward the fulfillment of other graduation requirements; provides that beginning with pupils entering the ninth grade in the 2021 to 2022 school year, one semester, or part of one semester, may include a financial literacy course.

Illinois

SR 311

Urges the Bank on Commission, housed in the Illinois Comptroller's Office, to develop recommendations for improving the financial capability of students enrolled in Illinois' public colleges and universities.

Indiana

None

 

Iowa

HF 2263

This bill relates to education, including modifying provisions related to required social studies instruction, personal financial literacy instruction, and high school equivalency diplomas. The bill provides that the personal financial literacy instruction provided in school districts and nonpublic schools in grades nine through 12, beginning with the students in the 2022-2023 graduating class, shall require students to attain a passing score on an assessment of the student’s knowledge of personal financial literacy as a condition of graduation. The bill authorizes a student who fails to attain a passing score on the assessment to retake the assessment as many times as necessary.

Iowa

HF 2377

Creates the office of financial wellness under the department of commerce as an independent office to promote the financial well-being and education of Iowans. The office of financial wellness shall coordinate the state’s efforts and convene interested parties to increase the financial literacy and well-being of Iowans.

Iowa

SF 346

Relates to various matters under the purview of the Insurance Division of the Department of Commerce; provides fees; makes an appropriation; resolves inconsistencies. Code section 502.410 (filing fees) is amended to change the broker-dealer filing fee for an application or renewal registration from $200 to an amount established by the administrator. In addition, the filing fee for registration or renewal as an agent is amended from $40 to an amount established by the administrator. Of the agent registration fees collected, 25 percent are appropriated to the securities investor education and financial literacy training fund.

Kansas

HB 2301

The bill amends law regarding financial literacy curriculum. The bill requires all public, private, or parochial high schools accredited by the Kansas State Board of Education to provide a course on personal financial literacy. The bill requires for graduation from high school all students enrolled in grade 11 or 12 to pass such financial literacy course, to include but not be limited to the following areas: savings and investing; credit and debt; financial responsibility and money management; and insurance, risk management, and income.

Kentucky

SB 6
Signed by governor 3/9/22, Act 12

Provides that an institution or an association shall not prohibit a student athlete from lawfully earning compensation through a name, image, and likeness agreement with a third party or from obtaining an athlete agent and shall not penalize an athlete for doing so. Requires that an institution provide the institution's student athletes with a financial literacy and life skills education workshop for a minimum of five hours at the beginning of the athlete's first and third academic years.

Louisiana

HB 929

Provides the state content standards in social studies for grades K to 12. In Economics, students shall be expected to be able to: (1) Identify examples of goods and services and explain why people purchase them. For example: (a) Goods: food, toys, and clothing. (b) Services: medical care, fire protection, law enforcement, and library resources. (2) Describe and compare reasons to save and spend money. (3) Differentiate between wants and needs. (4) Identify jobs and industries within a school and community. (5) Describe the concept of scarcity using examples.

Maine

None

 

Maryland

HB 200

Requires the State Department of Education to update the Maryland State Curriculum for Personal Financial Literacy Education and corresponding financial literacy standards to include certain content; requires the State Board of Education to establish a financial literacy education week; requires each county board of education to require schools in the county to host public discussions on financial literacy during financial literacy education week; requiring the State Board to develop fully online/virtual curriculum content for certain courses in financial literacy; requires each county board to offer the financial literacy curriculum content in every public high school in the county for credit, beginning in a certain school year; and requires each county board to provide a certificate of completion for all students who complete the financial literacy course provided by the school district.

Maryland

HB 630

Requires the State Board of Education to establish a Financial Literacy Pilot Program and develop curriculum content for certain public school students; authorizes each public school to implement the curriculum content beginning in a certain school year; and generally relates to a Financial Literacy Pilot Program in public schools.

Maryland

HB 985
Passed House 3/16/22

Requires the State Board of Education to develop curriculum content for a certain financial literacy course; requires each county board of education to implement the financial literacy curriculum content in every public high school in the county; repeals a provision of law requiring the State Department of Education to report on certain changes to financial literacy curricula at a certain interval; and generally relates to the development and implementation of a financial literacy curriculum for public high schools in the state.

Maryland

HB 1437
SB 699

Requires the State Board of Education, with the assistance of the Maryland Council on Economic Education, to develop curriculum content for a certain course in financial literacy; requires each county board of education to implement the curriculum in every public high school beginning in a certain school year; requires a student to complete a certain financial literacy course in order to graduate from high school; requires the State Department of Education to provide a professional development course for teachers implementing the curriculum; requires each teacher implementing the curriculum to complete a certain number of hours of professional development in financial literacy; and generally relates to the development and implementation of a financial literacy course in public high schools.

Massachusetts

HB 40

Submits recommendations of the Department of the State Treasurer as relates to financial literacy for individuals and families.

Massachusetts

HB 42

Submits recommendations of the Department of the State Treasurer as relates to requiring financial education in schools.

Massachusetts

HB 220

Establishes an interagency child welfare task force. 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, to 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 231

Relates to financial literacy.

Massachusetts

HB 578

Relates to establishing a personal financial literacy curriculum in schools.

Massachusetts

HB 1343

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

Massachusetts

SB 346

Relates to high school financial literacy education.

Massachusetts

SB 380

Relates to student financial literacy.

Massachusetts

SB 381

Requires financial education in schools. Establishes a separate fund to be known as the Financial Literacy Trust Fund.

Michigan

HB 4590

Revises mathematics requirement for Michigan merit curriculum. Provides that the board of a school district or board of directors of a public school academy shall not award a high school diploma to a pupil unless the pupil successfully completes at least four credits in mathematics that are aligned with subject area content expectations developed by the department and approved by the state board under §1278b, including completion of at least algebra I, geometry, and algebra II, statistics, or a course in financial literacy as described in §1165 if that course aligns with the subject area content expectations for mathematics developed by the department and approved by the state board under §1278b, or an integrated sequence of this course content that consists of three credits, and an additional mathematics credit, such as trigonometry, precalculus, calculus, applied math, accounting, business math, or a retake of algebra II.

Michigan

HB 5025

Provides that consistent with federal law, when the department serves as the representative payee or in any other fiduciary capacity for a foster child receiving Veterans Administration benefits, federal Supplemental Security Income, or Social Security benefits, the department shall Provide the child with financial literacy training when the child has attained the age of 14 years.

Michigan

HB 5190
Passed House 12/1/21

Requirements for Michigan merit curriculum; beginning with pupils entering grade 8 in 2023, the board of a school district or board of directors of a public school academy shall not award a high school diploma to a pupil unless the pupil has successfully completed a 1/2-credit course in personal finance that includes a financial literacy component as described

Michigan

HR 261
Adopted 3/24/22

Declares April 2022 as Financial Literacy Month in the state of Michigan.

Minnesota

HF 389
SF 547

Enacts the Women of Color Opportunity Act; competitive grant programs to increase the financial literacy of girls of color.

Minnesota

HF 404
SF 47

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

Minnesota

HF 562
SF 1365

Modifies social studies graduation requirements, adding personal finance as an option; amends Minnesota Statutes 2020, §120B.024, subdivision 1.

Minnesota

HF 705
SF 996

Modifies civics and social studies graduation requirements, adding personal finance as an option; amends Minnesota Statutes 2020, §120B.02, subdivision 3; §120B.024, subdivision 1.

Minnesota

HF 709
SF 1217

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

Minnesota

HF 1092
SF 2043

Appropriates money for a grant to Girl Scouts River Valleys for the ConnectZ program that includes healthy relationships; science, technology, engineering, and math; financial literacy; college and career readiness; and leadership development and service learning; requires a report.

Minnesota

HF 1281
SF 2305

Relates to employment; creates the getting to work grant program; a program must offer one or more of the following: (1) financial literacy education.

Minnesota

HF 1342
Indefinitely postponed 4/16/21
SF 1098
To conference committee 4/21/21

Relates to state government; appropriates money for jobs and economic development; (g) $1,000,000 each year is for a competitive grant program to provide grants to organizations that provide support services for individuals, such as job training, employment preparation, internships, job assistance to parents, financial literacy, academic and behavioral interventions for low-performing students, and youth intervention.

Minnesota

HF 1617
SF 750

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

Minnesota

HF 1997
SF 845

Relates to education finance; appropriates money for Girls in Action programming grant; increasing financial literacy and knowledge of options for financing college or postsecondary education.

Minnesota

HF 2146
SF 2042

Relates to education; provides grants to the Minnesota Council on Economic Education; The funds under paragraph (a) must be used by the council to: support the direct-to-student ancillary economic and personal finance programs that Minnesota teachers supervise and coach.

Minnesota

HF 2752
SF 3799

Relates to higher education; provides supplemental financing to the University of Minnesota to increase access and reduce costs to students; appropriates $5 million is to increase student academic advising, mental health and well-being, tutoring needs, and financial literacy services at the University of Minnesota.

Minnesota

HF 3393
SF 3426

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

Minnesota

HF 3795
SF 362

Relates to education; modifies graduation requirements to include personal finance.

Minnesota

HF 4207
SF 4384

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

Minnesota

HF 4307
SF 4013

Relates to state government; modifies provisions governing child care assistance, economic assistance, behavioral health, health care, and health insurance access; makes forecast adjustments; requires reports; transfers money; makes technical and conforming changes; allocates funds for a specific purpose; establishes certain grants; appropriates money. For the Minnesota family assets for independence initiative, provides that a financial coach shall provide the following to program participants: (1) financial education relating to budgeting, debt reduction, asset-specific training, credit building, and financial stability activities; (2) asset-specific training related to buying a home or vehicle, acquiring postsecondary education, starting or expanding a small business, saving for emergencies, or saving for a child's education; and (3) financial stability education and training to improve and sustain financial security.

Minnesota

HF 4368
SF 4095

Modifies the family assets for independence program; appropriates money; amends Minnesota Statutes 2020, §256E.35, subdivisions 1, 2, 4a, 6, 7; 256P.02, by adding a subdivision. Provides that a financial coach shall provide the following to program participants: (1) financial education relating to budgeting, debt reduction, asset-specific training, credit building, and financial stability activities; (2) asset-specific training related to buying a home or vehicle, acquiring postsecondary education, starting or expanding a small business, saving for emergencies, or saving for a child's education; and (3) financial stability education and training to improve and sustain financial security.

Minnesota

HF 4555
SF 4157

Appropriates money for a grant to support savings accounts for children and supports financial education for families on their child's college and career pathway in St. Paul.

Minnesota

HF 4608
SF 4039

Relates to public safety; includes financial education in the definition of housing supports, the services and supports used to enable domestic violence and sexual assault victims to secure and maintain transitional and permanent housing placement designed for independent living.

Minnesota

SF 236

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

Minnesota

SF 4195

Relates to public safety; includes financial education in the definition of housing supports, the services and supports used to enable domestic violence and sexual assault victims to secure and maintain transitional and permanent housing placement designed for independent living.

Minnesota

SF 4253

Relates to economic development; requires a report; appropriates money to make workforce training and entrepreneurship investments intended to help close the state's opportunity gaps for Minnesotans of color. Appropriates money to Central Minnesota Workforce Development Collective Impact Partners to provide driver education, financial literacy training, and job placement and retention services.

Mississippi

HB 1388
Signed by governor 3/23/22

Creates the "comprehensive career and technical education reform act"; requires the office of workforce development, subject to appropriation by the legislature, to pilot a career coaching program to support middle schools and high schools as students are exposed, prepared and connected to career avenues within and beyond the classroom setting; provides that students pursuing a career technical education pathway must complete the 24 course unit requirements for a regular high school diploma, which may include a course on personal finance.

Mississippi

SB 2438
Died in committee 2/1/22

Enacts the State Financial Literacy Act; requires local school boards of every public school district to adopt a policy to implement a financial literacy education program into its curriculum for students in grades 10 and 11; provides that the instruction in those subjects shall be implemented not later than the start of a specified school year; provides that the State Department of Education shall approve each district's curriculum for financial literacy related education and shall establish a protocol.

Missouri

HB 1732
Passed House 3/10/22

Establishes provisions relating to workplace retirement savings plans. To develop and disseminate educational information designed to educate participants and citizens about the benefits of planning and saving for retirement and to help participants and citizens decide the level of participation and savings strategies that may be appropriate, including information in furtherance of financial capability and financial literacy.

Missouri

HB 1847

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

Missouri

HB 2412

Establishes provisions relating to restitution for individuals found to be actually innocent through any evidentiary method; an individual may also be awarded other nonmonetary relief including, but not limited to, counseling, housing assistance, and personal financial literacy assistance, as appropriate.

Missouri

SB 1056

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

Missouri

SB 1132

Relates to compensation for wrongful conviction. Provides that a 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.

Montana

No regular 2022 legislative session

 

Nebraska

LB 450
Signed by governor 4/18/22

Adopts the Nebraska Innovation Hub Act and the Small Business Assistance Act. Provides counseling and technical assistance to entrepreneurs, either by direct or indirect services, in financing and the use of credit; financial account management, bookkeeping, and budgeting; and financial literacy education, among others.

Nebraska

LB 831

Provides for caregiver diversion programs and conditional release of pregnant and postpartum inmates. A caregiver diversion program may include financial literacy courses.

Nebraska

LB 888
Signed by governor 4/19/22

Changes a requirement relating to academic standards for social studies; repeals the original section; adopts measurable academic content standards for financial literacy and education on the Holocaust and other acts of genocide as recognized by the Congress of the United States or the United Nations as of specified date.

Nebraska

LB 1072

Appropriates federal funds to the Department of Economic Development for a financial success program. Provide education to participants of the program in financial literacy.

Nebraska

LB 1115

Relating to property taxes; requires the development of certain property in order for it to retain its property tax exemption; defines terms; and creates the High-Poverty Area Assistance Fund. The fund shall be used to provide mental health services, family counseling services and financial literacy training.

Nebraska

LB 1137
Signed by governor 4/18/22

Renames and changes provisions of the Fair Pay to Play Act. Provides that a postsecondary institution may offer education and training to student-athletes to aid them in understanding the opportunities that may become available to them for the use of their name, image, or likeness, including education in the areas of networking and communication, brand building and management, financial literacy, and compliance.

Nevada

No regular 2022 legislative session

 

New Hampshire

HB 1671
To House for concurrence

Revises the requirements for the content, definition, and accountability for an adequate public education. Includes personal financial literacy in the learning areas.

New Jersey

AB 1296

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

New Jersey

AJR 49

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

New Jersey

AR 41

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

New Mexico

HB 130

Relates to public education; allows personal finance to count as an elective in sixth through eighth grades; amends graduation requirements; allows one-half unit of personal finance to count as an elective unit prior to graduation; makes an appropriation.

New Mexico

SB 177

Relates to public education; amends graduation requirements; requires one-half unit of personal finance and economics prior to graduation; requires certain licenses for personal finance instruction.

New Mexico

SB 181

Relates to public education; allows personal finance to count as an elective in sixth through eighth grades; amends graduation requirements; allows one-half unit of personal finance to count as an elective unit prior to graduation; makes an appropriation.

New York

AB 329
SB 353

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

New York

AB 731
SB 5820

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 1047
SB 574

Establishes the State Financial Literacy Fund.

New York

AB 2384
SB 5854

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 2498

Amends the Education Law; relates to establishing a college experience program for students with developmental disabilities; requires the trustees of State University of New York and City University of New York 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.

New York

AB 3273

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 5490
SB 5421

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 5516
Enacting clause stricken 2/8/22
SB 1927

Relates to establishing 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 5978

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 6234
SB 7257

Requires all public and private schools to provide financial literacy education to pupils in grade eleven; directs that certain topics be covered in such educational program.

New York

AB 7220
SB 5827

Requires senior high schools to provide a course in financial literacy; requires students to complete such course as a condition of graduation.

New York

AB 8289
SB 670

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations. Includes financial literacy as community investment by credit union to accept municipal deposits.

New York

AB 8596

Directs the Department of Labor to provide notice of job skills training programs and employment services available to taxicab drivers seeking alternate employment who may need assistance with language instruction, financial literacy, social services, computer training and career counseling.

New York

AB 9493
SB 8670

Provides that a veteran seeking a housing loan under chapter 37 of title 38 of the U.S. Code be offered loan counseling services prior to the processing of such application by a banking institution or mortgage lender.

New York

AB 9637

Establishes community literacy programs and the community literacy fund to provide grants to non-profit organizations that assist adults in reading, writing, math, English language proficiency, and problem-solving skills.

New York

AB 9652
SB 1927

Relates to establishing 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

SB 3848

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

None

 

North Dakota

No regular 2022 legislative session

 

N. Mariana Islands

Not available

 

Ohio

None

 

Oklahoma

HB 2727
Passed House 3/10/21

Relates to schools; permits Adulting 101 to be taught as an elective in public schools as funding becomes available; lists areas of instruction; allows school district to provide instruction for certain grades; Subject to the availability of funding and in addition to personal financial literacy education required by the Passport to Financial Literacy Act, Adulting 101 may be taught as an elective course in the public schools of this state.

Oklahoma

HB 4409
Passed House 3/21/22

Relates to schools; relates to subject matter standards; modifies graduation requirement to complete a personal financial literacy course; relates to personal financial literacy education; modifies areas of instruction to be included; requires certain students to complete certain course in financial literacy to graduate from high school; mandates instruction to be provided in separate one semester course; removes language allowing districts to offer instruction in certain grades.

Oklahoma

SB 1145
Title stricken 3/1/22

Provides that a personal financial literacy education shall be taught in the public schools of this state; provides that personal financial literacy education shall include, but is not limited to, specified areas of instruction, including planning for retirement including individual retirement accounts, plans established under §401(k) of the Internal Revenue Code, as amended, and other avenues for saving and investing for retirement, managing an online bank account, and understanding credit scores.

Oregon

HB 4079

Establishes Oregon Freedom Pilot Program in Department of Human Services to provide monthly stipends to low‑income families. The Department of Human Services shall prescribe by rule eligibility requirements for the program that must give priority to Oregonians with incomes furthest below the federal poverty guidelines and that must include attendance at a financial literacy program.

Oregon

SB 1584
Signed by governor 3/24/22, Chapter 105

Creates procedure for filing a petition for compensation for wrongful conviction. Compensation may include access to existing state, local or other programs that provide services, including, but not limited to, counseling, housing assistance, eligibility for medical assistance as defined in ORS 414.025, educational assistance, job training, legal services to regain custody of children, assistance with food and transportation and personal financial literacy assistance, as appropriate.

Pennsylvania

HB 242

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 and establishing the Personal Finance Education Fund; makes an appropriation.

Pennsylvania

SB 34

Relates to 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.

Pennsylvania

SR 270

Recognizes the month of April 2022 as "Financial Literacy Month" in Pennsylvania.

Puerto Rico

HB 345

Creates the Law of Training and Planning for the Financial Security and Economic Development of the Workforce in Puerto Rico; establish the public policy of financial training that should be promoted in the workforce in Puerto Rico to promote financial security and the preparation of people who work for their retirement; activates the mandatory financial training program for all employees of the public system.

Puerto Rico

HB 1246

Relates to declare October as Financial Responsibility Awareness Month, in order to promote good management of the personal, family, business, and government economy; provides that, during October of each year, the Department of Education, in coordination with the Institute of Financial Education of Puerto Rico, will carry out, in all public schools in the country, a campaign on financial responsibility aimed at students of all school levels and their parents and/or guardians.

Puerto Rico

SB 330
Passed Senate 6/24/21

Amends Law 4 of 1985, the Law of the Office of the Commissioner of Financial Institutions, for the purposes of grouping and consolidating into a single Act, the functions, powers and duties of the so‑called Institute of Financial Education of Puerto Rico; provides for the transfer of all property, documents, unspent amounts of assignments, items and other funds held and under the custody of the aforementioned Institute, to the Office of the Commissioner of Financial Institutions.

Rhode Island

HB 8127
Adopted 4/12/22, Resolution 233
SB 2871
Adopted 4/12/22, Resolution 230

Proclaims April 2022, to be "Financial Literacy Month" in the state of Rhode Island.

A. Samoa

Not available

 

South Carolina

HB 3022

Amends §59-29-410, code of laws of South Carolina, 1976, relating to instructional topics required in high school financial literacy programs, so as to also require instruction in certain additional topics, to make the provisions applicable upon the next adoption of revisions to the social studies academic standards by the state board of education, and to provide the board shall integrate these topics in such revisions.

South Carolina

HB 3116

Requires 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 2021‑2022 school year.

South Carolina

HB 3248

Amends the code of laws of South Carolina, 1976, by adding article 7 to chapter 11, title 11 so as to provide increased funding to public institutions of higher learning in the same percentage as general fund revenues increase, to provide additional funding for certain scholarships and to provide eligibility criteria for the funding, and to establish the higher education facilities repair and renovation fund to provide infrastructure funding for institutions of higher learning; adds §§59-149-170, 59-149-180, 59-104-50, and 59-104-60 so as to normalize the 10-point grading scale for purposes of eligibility for certain scholarships; amends §59-150-370, relating to the hope scholarship, so as to normalize the 10-point grading scale for purposes of eligibility; adds §§59-142-80 and 59-143-40 so as to appropriate additional funding for the need-based grant program and to provide eligibility criteria for future funding; amends §59-143-30, relating to higher education scholarships and grants, so as to appropriate additional funding for grant programs; amends §59-104-25 and 59-149-15, relating to certain stem stipends, so as to provide that the stipend is available when the student becomes a junior instead of a sophomore; adds §59-142-90 so as to require the appropriation of certain additional funding for need-based grants and need-based tuition grants; repeals §§59-104-20(d) and 59-149-150 both relating to certain scholarship provisions; amends §59-150-370, relating to scholarships, so as to make a conforming change; adds §59-103-175 so as to require the commission on higher education submit policy statements and rules as regulations; requires the procurement of a student loan default aversion and financial literacy program; adds chapter 157 to title 59 so as to create the "state institution of higher education enterprise act"; and amends §11-35-710, as amended, relating to the procurement code, so as to exempt an enterprise division.

South Carolina

HB 3315

Amends the code of laws of South Carolina, 1976, so as to enact 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 3688

Provides that to be eligible for housing under the housing authority, an individual shall attend one financial literacy class offered or approved by the Department of Consumer Affairs.

South Carolina

HB 4031

Amends the code of laws of South Carolina, 1976, by adding chapter 157 to title 59 so as to provide definitions, to provide that a student athlete may receive compensation for the use of his name, image, or likeness, to provide that an institution of higher learning may not provide a prospective student athlete with compensation, to provide that a student athlete may engage in certain professional representation, to provide that scholarships and stipends are not considered compensation, to provide that a student athlete may not enter into certain contracts in conflict with the athlete's team contract, and to provide that a team contract may not prevent a student athlete from using his name, image, or likeness for commercial purposes when the student athlete is not engaged in official team activities; adds article 9 to chapter 101, title 59 so as to provide definitions, to provide for certain stipends, to provide that a student athlete who participates in more than one sport only may receive one stipend, to provide that stipends awarded are considered financial aid, and to provide for accounting of the stipends awarded; adds article 10 to chapter 101, title 59 so as to provide definitions, to establish the student athlete trust fund, to provide for payments into the trust fund, to require completion of a financial literacy course, to provide for limitations on student athletes who participate in more than one sport, to provide that all payments to student athletes are financial aid, and to provide for certain accounting; and amends §59-102-20, relating to athlete agents and student athlete definitions, so as to provide that agency contracts include the student athlete's name, image, or likeness.

South Carolina

HB 4582

Amends §59-29-410, relating to instructional topics required in high school financial literacy programs, so as to also require instruction in certain additional life skills topics, to make the provisions applicable upon the next adoption of revisions to the social studies academic standards by the state board of education, and to provide the board shall integrate these topics in such revisions.

South Carolina

SB 16
To conference committee 2/23/22

Adds §59-29-17 so as to require completion of certain basic personal finance coursework for high school graduation instead of existing economics coursework requirements, to provide high schools may continue to offer such coursework, to provide for the development and content of related standards, to provide the state department of education shall develop related measuring and reporting requirements and shall make related recommendations, and to make these provisions applicable to students entering ninth grade beginning with the 2022-2023 school year; and repeals §59-29-165 relating to required instruction in personal finance.

South Carolina

SB 256

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 articles 9 and 10, to provide that participating institutions in this state shall annually award stipends to a student athlete who participates in an intercollegiate sport and maintains good academic standing during the previous year, to provide conditions for the receipt of stipends, to provide that participating institutions 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 after the fulfillment of certain requirements including financial literacy, and to provide conditions for the receipt of a trust fund payment; and to define necessary terms.

South Carolina

SB 405

Adds §59-29-17, to require each high school to offer a one-half credit course of study in personal finance as an elective or mathematics credit beginning with the 2021-2022 school year.

South Carolina

SB 861

Amends chapter 101, title 59 of the 1976 code, relating to colleges and institutions of higher learning generally, by adding articles 9 and 10, to provide that participating institutions in this state shall annually award a stipend to a student athlete who participates in an intercollegiate sport and maintains good academic standing during the previous year, to provide conditions for the receipt of stipends, to provide that participating institutions 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 after the fulfillment of certain requirements, and to provide conditions for the receipt of a trust fund payment; and to define necessary terms. Requires completion of a state-approved financial literacy course by a student athlete.

South Dakota

None

 

Tennessee

HB 2294
Passed House 4/11/22
SB 2174

Requires that students in grades six through eight complete a financial literacy course.

Tennessee

HB 2421

Establishes deadline of February 1 for the Tennessee financial literacy commission to submit its annual report concerning its activities during the preceding year to the general assembly.

Texas

No regular 2022 legislative session

 

Utah

SB 71
Enacting clause struck 3/4/22

Creates the Parental Coaching to Encourage Student Savings Program; provides for financial training to parents of certain children experiencing intergenerational poverty and a financial contribution to the 529 savings accounts of such children if certain conditions are met; creates the Parental Coaching to Encourage Student Savings Program Restricted Account.

Vermont

HB 273

This bill proposes to promote racial and social equity in land access and property ownership by creating grant programs, financial education, and other investments targeted to Vermonters who have historically suffered from discrimination and who have not had equal access to public or private economic benefits due to race, ethnicity, sex, geography, language preference, immigrant or citizen status, sexual orientation, gender identity, socioeconomic status, or disability status.

Vermont

HB 336

This bill proposes to promote economic opportunity for Black, Indigenous, and Persons of Color (BIPOC)-owned businesses in this state (1) to provide BIPOC-owned businesses with technical assistance, including financial literacy, digital literacy, and marketing; (2) to promote state and federal contract bid opportunities to BIPOC-owned businesses; and (3) to provide training to business technical assistance providers to reduce bias in service delivery.

Vermont

HB 464
Passed House 3/23/22

This bill proposes to: (1) remove the medical review process in the Reach Up program; and (2) enable both parents in a qualifying two-parent family to participate in the Postsecondary Education Program. Includes financial capability classes and coaching as a program participation activity.

U.S. Virgin Islands

None

 

Washington

HB 1938

Amends provisions regarding the financial education public-private partnership. Requires, beginning with the 2022-23 school year, and subject to the availability of amounts appropriated for this specific purpose, the educational service districts must have staff positions solely dedicated to student financial education.

Washington

SB 5720
Signed by governor 3/30/22, Chapter 238

Provides student financial literacy education; provides that the financial education public private partnership shall establish a grant program to provide assistance to school districts for the purpose of integrating financial literacy education into professional development for certificated staff.

Washington

SB 5824

Provides dependent youth with financial education and support.

West Virginia

HB 2092

Requires one credit required course of study with end of course exam in personal finance in high school; requires state board to develop curriculum; requires cursive to taught in certain grades; requires state board to develop a program of instruction on the Holocaust and other genocides integrated into curriculum of appropriate course or courses in the middle and high school grades.

West Virginia

HB 4437

Relates to creation of a task force to provide comprehensive reentry transitional services to offenders reentering communities. Requires the task force to 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 4812

Requires the State Board of Education to establish a personal finance literacy pilot program to be implemented in at least five public high schools.

West Virginia

SB 60
Passed Senate 1/24/22

Allows the State Board of Education to develop a program of instruction in family and consumer sciences, or specific subjects within family and consumer sciences, that may be integrated into the curriculum for students in secondary schools.

Wisconsin

AB 899
Failed to pass pursuant to SJR 1 3/15/22

Requires one credit of personal financial literacy for high school graduation.

Wisconsin

SB 841
Failed to pass pursuant to SJR 1 3/15/22

Requires one credit of personal financial literacy for high school graduation.

Wyoming

None

 

 

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

 

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