Senate Bill S8459

2017-2018 Legislative Session

Relates to courses of study in consumer awareness and financial education

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Education Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S8459 (ACTIVE) - Details

See Assembly Version of this Bill:
A8701
Current Committee:
Senate Education
Law Section:
Education Law
Laws Affected:
Add §814-a, Ed L
Versions Introduced in Other Legislative Sessions:
2019-2020: S2382, A6001
2021-2022: S5854, A2384
2023-2024: S2873, A9701

2017-S8459 (ACTIVE) - Summary

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

2017-S8459 (ACTIVE) - Sponsor Memo

2017-S8459 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8459
 
                             I N  S E N A T E
 
                                May 8, 2018
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Education
 
 AN ACT to amend the education law, in relation to courses  of  study  in
   consumer awareness and financial education
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The education law is amended by adding a new section  814-a
 to read as follows:
   §  814-A.  COURSES OF STUDY IN CONSUMER AWARENESS AND FINANCIAL EDUCA-
 TION. 1. ANY SCHOOL DISTRICT IN THE STATE SHALL PROVIDE,  TO  PUPILS  IN
 GRADES  NINE  THROUGH  TWELVE,  ONE FULL UNIT OF INSTRUCTION DESIGNED TO
 PROMOTE CONSUMER AWARENESS AND FINANCIAL EDUCATION.
   2. THE COMMISSIONER SHALL PROVIDE TECHNICAL ASSISTANCE  TO  RECEIVE  A
 COURSE  OR  FULL UNIT OF INSTRUCTION IN CONSUMER AWARENESS AND FINANCIAL
 EDUCATION.
   3. THE REQUIREMENTS OF THIS  SECTION  MAY  BE  FULFILLED  THROUGH  THE
 FINANCE  UNIT  OF  THE  REQUIRED HIGH SCHOOL ECONOMICS OR HOME ECONOMICS
 COURSE OR THE CONTINUATION OF  FINANCIAL  MANAGEMENT  COURSES  CURRENTLY
 BEING TAUGHT IN PUBLIC SECONDARY SCHOOLS.
   4.  THE  BOARD  OF  EDUCATION  OR  TRUSTEES  OF THE SCHOOL DISTRICT IS
 CHARGED WITH DEVELOPING AND MAINTAINING A CONSUMER AWARENESS AND  FINAN-
 CIAL  EDUCATION  PROGRAM FOR SECONDARY SCHOOL PUPILS THAT SHALL INCLUDE,
 BUT NOT BE LIMITED TO, INSTRUCTION IN THE FOLLOWING:
   A. SETTING FINANCIAL GOALS AND DEVELOPING A BUDGET;
   B. UNDERSTANDING BASIC BANKING SERVICES  SUCH  AS  CHECKING  ACCOUNTS,
 SAVINGS ACCOUNTS AND CERTIFICATES OF DEPOSIT;
   C.  UNDERSTANDING  THE CONSUMER IMPACT AND RISKS ASSOCIATED WITH CHECK
 CASHING AND OTHER TOOLS AVAILABLE TO CONSUMERS FOR IMMEDIATE  ACCESS  TO
 FUNDS;
   D.  UNDERSTANDING VARIOUS INVESTMENT TOOLS AND RISKS INCLUDING BUT NOT
 LIMITED TO COLLEGE SAVINGS PLANS, MUTUAL FUNDS, INSURANCE POLICIES,  THE
 STOCK MARKET AND OTHER INVESTMENT TYPES;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13463-01-7
              

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