What's happening
This bill authorizes New York schools to offer financial management and literacy instruction for students in grades four through eight.
Why it matters
Prepares students early. By introducing financial concepts as early as grade four, the bill aims to build foundational skills before students face real-world financial decisions, potentially reducing future financial missteps.
Addresses a broad range of topics. The curriculum is not limited to just saving and budgeting; it explicitly includes credit, debt, insurance, and investment, encouraging a more comprehensive understanding of personal finance.
State support and guidance. The bill requires the education commissioner to provide technical assistance and age-appropriate curriculum development, helping ensure that schools have the expertise and resources to teach financial literacy effectively.
Flexible implementation for schools. While schools are authorized (not required) to offer these courses, the availability of model curricula and resources from the state may encourage wider adoption and reduce barriers to implementation.
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Who cares
Headline styles
Teach Kids Money Skills
Plain English, a few words. Used as the page title.
Sponsors
Assembly Member · Assembly District 23
No co-sponsors yet.
History
- Referred to education
- Print number 4772a
- Amend and recommit to education
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Teach Kids Money Skills
In Senate Committee · Education · Sponsor Joseph P. Addabbo Jr.
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4772--A
2019-2020 Regular Sessions
IN ASSEMBLY
February 5, 2019
Introduced by M. of A. PHEFFER AMATO -- read once and referred to the Committee on Education -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the education law, in relation to instruction in financial management
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The education law is amended by adding a new section 817 to read as follows:
§ 817. Courses of study in financial management. 1. All school districts in the state shall be authorized to provide, to pupils in grades four through eight, instruction in financial management including, but not limited to, basic financial literacy necessary for sound financial decision-making, budgeting, savings, credit, debt, insurance, investment, and other issues associated with personal financial responsibility. The commissioner shall establish and define such financial management program in regulations. Nothing in this section shall prevent the department from making model curriculum and resource materials available on the department's website.
2. The commissioner shall provide technical assistance in the development of curricula for such courses of study which shall be age appropriate and developed according to the needs and abilities of pupils at successive grade levels in order to provide pupils with financial management skills.
§ 2. This act shall take effect on the first of July next succeeding the date on which it shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized to be made and completed on or before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08573-05-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.