OLR Bill Analysis

SB 359

AN ACT CONCERNING FINANCIAL LITERACY.

SUMMARY:

The bill requires the State Department of Education and the Board of Regents for Higher Education, in consultation with the Department of Banking, to (1) develop a plan to ensure that all students of public high schools, colleges, universities, and community technical colleges receive financial literacy instruction and (2) get any available federal, state, or private funds to implement the plan. They must present the plan to the Banks Committee by January 1, 2013.

EFFECTIVE DATE: July 1, 2012

BACKGROUND

Curriculum Materials and Elective Courses

The law requires the State Board of Education to provide curriculum guides and materials to help school districts provide courses in personal financial management (CGS 10-16b(d)(6)). Starting with the class graduating from high school in 2020, the law requires high school students to take at least two credits in career and life skill electives, which can include personal finance courses (CGS 10-221a of the 2012 Supplement).

COMMITTEE ACTION

Banks Committee

Joint Favorable

Yea

18

Nay

0

(03/20/2012)