S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2298--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 25, 2023
                                ___________
 
 Introduced by M. of A. JACOBSON, TAYLOR, CRUZ, ZINERMAN, RAGA, SANTABAR-
   BARA,  LEVENBERG, CUNNINGHAM, McDONALD, VANEL, WOERNER, EPSTEIN, HUNT-
   ER, GIBBS, REYES -- read once and referred to the Committee on  Educa-
   tion  --  committee  discharged,  bill  amended,  ordered reprinted as
   amended and recommitted to said committee

 AN ACT to amend the education law, in relation to requiring 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  HIGH  SCHOOL STUDENTS IN GRADES NINE
 THROUGH TWELVE 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 RETIRE-
 MENT, INSURANCE, RIGHTS AND OBLIGATIONS AS A TENANT, BASIC  CONCEPTS  ON
 BORROWING  INCLUDING  THE  PURCHASING OF AUTOMOBILES AND HOMES, BENEFITS
 AND DRAWBACKS OF LEASING AND/OR PURCHASING OF AUTOMOBILES, AND THE BENE-
 FITS 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  HIGH  SCHOOL,  A  STUDENT  SHALL
 ATTEND  AND  PASS  THE  COURSE ON FINANCIAL LITERACY; PROVIDED, HOWEVER,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02171-03-3
              

 A. 2298--A                          2
 
 THAT WITH RESPECT TO STUDENTS WHO HAVE INDIVIDUAL EDUCATION  PLANS,  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  INDI-
 VIDUAL  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.