Assembly Bill A1557

2023-2024 Legislative Session

Establishes instruction in financial literacy for students in sixth through eighth grade

download bill text pdf

Sponsored By

Current Bill Status - In Assembly 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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2023-A1557 (ACTIVE) - Details

See Senate Version of this Bill:
S1030
Current Committee:
Assembly Education
Law Section:
Education Law
Laws Affected:
Add §803-c, Ed L
Versions Introduced in Other Legislative Sessions:
2019-2020: A3497, S4077
2021-2022: A5516, A9652, S1927

2023-A1557 (ACTIVE) - Summary

Establishes 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.

2023-A1557 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1557
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced by M. of A. KELLES -- 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.
                                                            LBD03520-01-3

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