Connecticut Seal

General Assembly

 

Committee Bill No. 319

January Session, 2015

 

LCO No. 4215

 

*04215SB00319BA_*

Referred to Committee on BANKING

 

Introduced by:

 

(BA)

 

AN ACT CONCERNING FINANCIAL LITERACY EDUCATION.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (d) of section 10-16b of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015):

(d) The State Board of Education shall make available curriculum materials and such other materials as may assist local and regional boards of education in developing instructional programs pursuant to this section. The State Board of Education, within available appropriations and utilizing available resource materials, shall assist and encourage local and regional boards of education to include: (1) Holocaust and genocide education and awareness; (2) the historical events surrounding the Great Famine in Ireland; (3) African-American history; (4) Puerto Rican history; (5) Native American history; (6) [personal financial management] financial literacy implemented pursuant to section 10-16pp, as amended by this act; (7) training in cardiopulmonary resuscitation and the use of automatic external defibrillators; and (8) topics approved by the state board upon the request of local or regional boards of education as part of the program of instruction offered pursuant to subsection (a) of this section.

Sec. 2. Subsection (a) of section 10-16pp of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015):

(a) The Department of Education, the Board of Regents for Higher Education, and the Board of Trustees for The University of Connecticut, in consultation with the Department of Banking, may develop a plan to provide to each student of a public high school or a constituent unit, as defined in section 10a-1, instruction in financial literacy, including, but not limited to, banking, investing, savings, the handling of personal finance matters, and the impact of using credit cards and debit cards. Upon development and implementation of such plan, such instruction may occur during a student's final year of high school and, for a student of a constituent unit, not later than such student's completion of his or her second semester at such constituent unit.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2015

10-16b(d)

Sec. 2

October 1, 2015

10-16pp(a)

Statement of Purpose:

To ensure that students of public high schools and public institutions of higher education in this state receive instruction in financial literacy.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]

Co-Sponsors:

SEN. KENNEDY, 12th Dist.

S.B. 319