What's happening
This bill requires New York middle schools to provide financial literacy instruction for students in grades six through eight.
Why it matters
Equips young students with essential life skills. By mandating financial literacy in middle schools, the bill aims to help students develop habits and knowledge about money management, budgeting, saving, and responsible spending early—potentially reducing financial missteps in adulthood.
Focuses on age-appropriate learning. The bill requires that instruction be tailored to the age and comprehension level of students in each grade, increasing the chances that lessons will be relevant, understandable, and retained.
Covers a broad range of financial topics. Required topics include budgeting, savings, credit, debt, insurance, and investment, ensuring students receive a comprehensive foundation in personal finance rather than just the basics.
Supports educators with resources. The state education commissioner must provide sample instructional materials and resources to school districts, which could help ensure consistency and quality in how financial literacy is taught statewide.
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Who cares
Headline styles
Teach Middle School Money Skills
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred 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 Financial Literacy Early
In Assembly Committee · Education · Sponsor Diana Richardson
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4077
2019-2020 Regular Sessions
IN SENATE
February 27, 2019
Introduced by Sens. JACKSON, BRESLIN, SALAZAR, SEPULVEDA, THOMAS -- read twice and ordered printed, and when printed to be committed to the Committee on Education
AN ACT to amend the education law, in relation to establishing instruction in financial literacy for students in sixth through eighth grade
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 803-b to read as follows:
§ 803-b. 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 responsibility 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.
LBD06748-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to establishing instruction in financial literacy for students in sixth through eighth grade
Purpose
Relates to establishing instruction in financial literacy for students in sixth through eighth grade.
Summary of provisions
New section added
Justification
To provide middle school students with the basic financial literacy necessary for sound financial decision-making.
Legislative history
New bill
Fiscal implications
Unknown
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.