S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10035
 
                           I N  A S S E M B L Y
 
                                May 2, 2024
                                ___________
 
 Introduced by M. of A. CONRAD -- read once and referred to the Committee
   on Education
 
 AN  ACT  to amend the education law, in relation to establishing a state
   seal of financial literacy
 
   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 815-a
 to read as follows:
   § 815-A. STATE SEAL OF FINANCIAL LITERACY. 1. (A) THE  STATE  SEAL  OF
 FINANCIAL LITERACY IS ESTABLISHED TO RECOGNIZE HIGH SCHOOL GRADUATES WHO
 HAVE  ATTAINED  A  HIGH LEVEL OF PROFICIENCY IN PERSONAL FINANCE, BUDGET
 MANAGEMENT, AND INVESTMENT. THE STATE SEAL OF FINANCIAL  LITERACY  SHALL
 BE  AWARDED  BY  THE COMMISSIONER. SCHOOL DISTRICT PARTICIPATION IN THIS
 PROGRAM IS VOLUNTARY.
   (B) THE PURPOSES OF THE  STATE  SEAL  OF  FINANCIAL  LITERACY  ARE  AS
 FOLLOWS:
   (1) TO ENCOURAGE PUPILS TO STUDY THE PRINCIPLES OF PERSONAL FINANCE.
   (2) TO CERTIFY ATTAINMENT OF FINANCIAL LITERACY.
   (3)  TO  PROVIDE  EMPLOYERS  WITH  A METHOD OF IDENTIFYING PEOPLE WITH
 FINANCIAL LITERACY SKILLS.
   (4) TO PROVIDE UNIVERSITIES WITH AN  ADDITIONAL  METHOD  TO  RECOGNIZE
 APPLICANTS SEEKING ADMISSION.
   (5) TO PREPARE PUPILS WITH TWENTY-FIRST CENTURY SKILLS.
   (6)  TO  RECOGNIZE  THE  VALUE OF STUDENTS DEMONSTRATING THE FINANCIAL
 KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED TO MANAGE PERSONAL FINANCES IN
 OUR PUBLIC SCHOOLS.
   2. (A) THE STATE SEAL OF FINANCIAL LITERACY CERTIFIES ATTAINMENT OF  A
 HIGH LEVEL OF PROFICIENCY BY A GRADUATING HIGH SCHOOL PUPIL IN FINANCIAL
 LITERACY.
   (B)  THE  BOARD  OF  REGENTS  SHALL PROMULGATE SUCH REGULATIONS OF THE
 COMMISSIONER AS MAY BE NECESSARY TO ESTABLISH THE CRITERIA THAT STUDENTS
 MUST ACHIEVE TO EARN A STATE  SEAL  OF  FINANCIAL  LITERACY,  WHICH  MAY
 INCLUDE,  BUT  IS NOT LIMITED TO ATTAINMENT OF UNITS OF CREDIT IN SOCIAL
 STUDIES OR ECONOMICS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15330-01-4
 A. 10035                            2
 
   3. THE COMMISSIONER SHALL DO BOTH OF THE FOLLOWING:
   (A) PREPARE AND DELIVER TO PARTICIPATING SCHOOL DISTRICTS AN APPROPRI-
 ATE  INSIGNIA  TO  BE AFFIXED TO THE DIPLOMA AND TRANSCRIPT OF THE PUPIL
 INDICATING THAT THE PUPIL HAS BEEN AWARDED A  STATE  SEAL  OF  FINANCIAL
 LITERACY BY THE COMMISSIONER.
   (B)  PROVIDE  OTHER  INFORMATION  THE COMMISSIONER DEEMS NECESSARY FOR
 SCHOOL DISTRICTS TO SUCCESSFULLY PARTICIPATE IN THE PROGRAM.
   4. A SCHOOL DISTRICT THAT  PARTICIPATES  IN  THE  PROGRAM  UNDER  THIS
 SECTION SHALL DO BOTH OF THE FOLLOWING:
   (A)  MAINTAIN APPROPRIATE RECORDS IN ORDER TO IDENTIFY PUPILS WHO HAVE
 EARNED A STATE SEAL OF FINANCIAL LITERACY.
   (B) AFFIX THE APPROPRIATE INSIGNIA TO THE DIPLOMA  AND  TRANSCRIPT  OF
 EACH PUPIL WHO EARNS A STATE SEAL OF FINANCIAL LITERACY.
   5. NO FEE SHALL BE CHARGED TO A PUPIL PURSUANT TO THIS SECTION.
   §  2.  This  act  shall  take  effect  on  the first of September next
 succeeding the date on which it shall have become a law.