Assembly Bill A5516

2021-2022 Legislative Session

Relates to establishing instruction in financial literacy for students in sixth through eighth grade

download bill text pdf

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Archive: Last Bill Status - Stricken

  • 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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2021-A5516 (ACTIVE) - Details

See Senate Version of this Bill:
S1927
Law Section:
Education Law
Laws Affected:
Add §803-b, Ed L
Versions Introduced in Other Legislative Sessions:
2019-2020: A3497, S4077
2023-2024: A1557, S1030

2021-A5516 (ACTIVE) - Summary

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.

2021-A5516 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5516
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 19, 2021
                                ___________
 
 Introduced  by  M.  of  A.  RICHARDSON  -- read once and referred to the
   Committee on Education
 
 AN ACT to amend the education law, in relation to establishing  instruc-
   tion in financial literacy for students in sixth through eighth grade
 
   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  803-c
 to read as follows:
   § 803-C. INSTRUCTION RELATING TO FINANCIAL LITERACY. 1. THE DEPARTMENT
 SHALL  REQUIRE  THAT A SCHOOL DISTRICT INCORPORATE IN EACH OF THE GRADES
 SIX THROUGH EIGHT FINANCIAL LITERACY INSTRUCTION FOR PUPILS ENROLLED  IN
 SUCH  GRADES. THE PURPOSE OF SUCH INSTRUCTION SHALL BE TO PROVIDE MIDDLE
 SCHOOL STUDENTS WITH THE BASIC FINANCIAL LITERACY  NECESSARY  FOR  SOUND
 FINANCIAL DECISION-MAKING.
   2.  THE  INSTRUCTION  SHALL  MEET  THE REQUIREMENTS ESTABLISHED BY THE
 DEPARTMENT AND SHALL:
   A. BE APPROPRIATE TO, AND REFLECT THE AGE AND  COMPREHENSION  OF,  THE
 STUDENTS ENROLLED IN THE PARTICULAR GRADE LEVEL; AND
   B.  INCLUDE  CONTENT  ON  BUDGETING, SAVINGS, CREDIT, DEBT, INSURANCE,
 INVESTMENT, AND OTHER ISSUES ASSOCIATED WITH PERSONAL FINANCIAL  RESPON-
 SIBILITY AS DETERMINED BY THE DEPARTMENT.
   3.  THE  COMMISSIONER  SHALL  PROVIDE  SCHOOL  DISTRICTS  WITH  SAMPLE
 INSTRUCTIONAL MATERIALS AND RESOURCES THAT MAY BE USED  TO  SUPPORT  THE
 IMPLEMENTATION OF THE FINANCIAL LITERACY INSTRUCTION REQUIREMENT.
   §  2.  This  act  shall take effect immediately and shall apply to all
 school years commencing on or after the first of  July  next  succeeding
 the date upon which it shall have become a law.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02281-01-1

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