NGPF FinLit Bill Tracker Update (4/21/21)

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Apr 21, 2021
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Advocacy

NGPF FinLit Bill Tracker is a one-stop source for financial education legislation. We rely on publicly available information, news sources, and direct communication with legislative staffers and lawmakers to keep the community informed on the 25 states whose legislatures have introduced FinLit bills this session.

 

Bills moving this week:

  • Connecticut SB1033 had its second reading on April 19, and received "the formal order for a bill reported out of committee to be printed in the files and appear on the... Senate calendar." (Source: Connecticut General Assembly terms website).
    • Bill Summary: "To include computer science and financial literacy instruction in the high school graduation requirements." (Source: BillTrack)
  • Hawaii SCR152 has now been heard on 4/6/21 in the House Education Committee and on 4/13/21 in the House Consumer Protection & Commerce Committee. Both committees passed the bill unanimously, and without amendment. The resolution now goes back to the Senate.
    • Bill Summary: URGING THE DEPARTMENT OF EDUCATION TO COORDINATE WITH THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS TO IMPLEMENT A GRADUATION REQUIREMENT OF AT LEAST A HALF CREDIT IN FINANCIAL LITERACY DURING THE JUNIOR YEAR OR SENIOR YEAR. (Source: Resolution Text, see above)
  • Kansas HB2301 passed Senate, and now sits on Governor's desk to be signed into law.
    • Bill Summary: A COURSE OF INSTRUCTION CONCERNING PERSONAL FINANCIAL LITERACY SHALL BE AT LEAST ONE SEMESTER OR TWO QUARTERS OR EQUIVALENT THEREOF. (Source: Bill Text, see above)
  • Rhode Island HB5073 passed in the House and now goes to the Senate
    • Bill Summary: Provides that the council on elementary and secondary education be encouraged to maintain, publish and update statewide standards for instruction of personal finance.
    • NOTE: Treasurer Seth Magaziner intends to introduce another bill this session which would guarantee a personal finance course before graduation, guided by these standards.
  • Texas SB1063 was added to the list of "local and uncontested" bills in the Texas Senate, which expedited its passage in the Senate. The bill now goes to the House. Stay tuned for more info on potential upcoming hearings.

 

Hearings This Week

  • Colorado HB21-1200 in the House Appropriations Committee on Friday April 23 at 8:00am Mountain Time / 10:00am Eastern. 
    • Bill Summary: "The bill directs the state board of education (state board) to review... standards relating to the knowledge and skills that a student should acquire in school to ensure that the financial literacy standards for ninth through twelfth grade include… managing student loan debt and accessing student aid through completion of the FAFSA and the Colorado application for state financial aid (CASFA); understanding credit cards and credit card debt; understanding homeownership and mortgages; and understanding retirement plans, including investments and retirement benefits. (Source: Colorado General Assembly website)

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.