S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7220--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 29, 2021
                                ___________
 
 Introduced by M. of A. JACOBSON, TAYLOR -- read once and referred to the
   Committee on Education -- recommitted to the Committee on Education in
   accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee

 AN  ACT to amend the education law, in relation to requiring senior high
   schools to provide  a  course  in  financial  literacy  and  requiring
   students to complete such course as a condition of graduation
 
   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  802-b
 to read as follows:
   §  802-B.  INSTRUCTION  RELATING TO FINANCIAL LITERACY. 1. THE COMMIS-
 SIONER IS HEREBY DIRECTED TO PROVIDE AND PRESCRIBE A COURSE OF  INSTRUC-
 TION  ON  FINANCIAL LITERACY FOR SENIOR HIGH SCHOOL STUDENTS WHICH SHALL
 INCLUDE, BUT NOT BE LIMITED TO THE TEACHING OF PERSONAL BUDGETING, WAGES
 AND TAXES, SELF-EMPLOYMENT, SAVINGS AND INVESTMENTS (STOCKS,  BONDS  AND
 MUTUAL  FUNDS), DEBT MANAGEMENT, CHECKING ACCOUNTS, CREDIT CARDS, CREDIT
 SCORES, SAVING FOR EDUCATION AND RETIREMENT, INSURANCE, RIGHTS AND OBLI-
 GATIONS AS A TENANT, BASIC CONCEPTS ON BORROWING INCLUDING THE  PURCHAS-
 ING  OF  AUTOMOBILES AND HOMES, BENEFITS AND DRAWBACKS OF LEASING AND/OR
 PURCHASING OF AUTOMOBILES, AND THE BENEFITS  AND  DRAWBACKS  OF  RENTING
 AND/OR  PURCHASING  A  HOME.  THE  COURSE SHALL BE TAUGHT ON A PASS/FAIL
 BASIS AND SHALL NOT AFFECT THE STUDENT'S GRADE POINT AVERAGE.
   2. SCHOOL AUTHORITIES SHALL PROVIDE THE NEEDED  FACILITIES,  TIME  AND
 PLACE  FOR  THE  INSTRUCTION SET FORTH IN THIS SECTION AND SHALL PROVIDE
 LEARNING AIDS AND CURRICULUM  RESOURCE  MATERIALS  WHICH  CONTRIBUTE  TO
 EFFECTIVE TEACHING METHODS AND LEARNING.
   3.  AS  A  CONDITION  OF GRADUATION FROM SENIOR HIGH SCHOOL, A STUDENT
 SHALL ATTEND AND PASS THE COURSE ON FINANCIAL LITERACY; PROVIDED, HOWEV-
 ER, THAT WITH RESPECT TO STUDENTS WHO HAVE INDIVIDUAL  EDUCATION  PLANS,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10803-04-2
              

 A. 7220--A                          2
 
 THE  COMPLETION OF SUCH COURSE SHALL NOT BE A REQUIREMENT FOR GRADUATION
 IF IT IS NOT SPECIFICALLY INCLUDED AS A  REQUIREMENT  IN  THE  STUDENT'S
 INDIVIDUAL  EDUCATION  PLAN RECOMMENDED BY THE SCHOOL DISTRICT COMMITTEE
 ON  THE  HANDICAPPED AND SUCH STUDENT IS A STUDENT WITH A DISABILITY, AS
 DEFINED IN SECTION FORTY-FOUR HUNDRED ONE OF THIS CHAPTER.
   § 2. This act shall take effect on the first of July  next  succeeding
 the date on which it shall have become a law.