HOUSE DOCKET, NO. 1120        FILED ON: 1/18/2017

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 288

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Robert M. Koczera

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act to establish a high school financial literacy course requirement.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Robert M. Koczera

11th Bristol

1/18/2017

Alan Silvia

7th Bristol

 

Carolyn C. Dykema

8th Middlesex

1/25/2017

Carole A. Fiola

6th Bristol

2/3/2017

Colleen M. Garry

36th Middlesex

1/31/2017

Elizabeth A. Malia

11th Suffolk

2/3/2017

Mathew Muratore

1st Plymouth

1/23/2017

Brian Murray

10th Worcester

2/2/2017

Chris Walsh

6th Middlesex

2/3/2017


HOUSE DOCKET, NO. 1120        FILED ON: 1/18/2017

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 288

By Mr. Koczera of New Bedford, a petition (accompanied by bill, House, No. 288) of Robert M. Koczera and others for legislation to establish a high school financial literacy course requirement.  Education.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

An Act to establish a high school financial literacy course requirement.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Chapter 69 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after section 1P the following section:-

Section 1Q.  To better prepare high school students for the personal finance decisions they will face in their future, the department of elementary and secondary education shall authorize and assist in the implementation of a mandatory, one-semester financial literacy course requirement for secondary school students prior to high school graduation. The course shall include, but is not limited to, the following topics of financial literacy: understanding personal and educational loan terms and repayment; the mechanics of borrowing money; how interest accrues; the use of credit; the impact of debt on credit worthiness; the rights and responsibilities of signing a rental lease; the mortgage approval process and refinancing strategies for home ownership; saving, investing, and planning for retirement; banking and financial services; balancing a checkbook; state and federal taxes; and charitable giving.

The department shall develop the standards and objectives for the financial literacy course and make available to school districts resources to aid in the selection of appropriate financial literacy curriculum by the start of the 2018-2019 school year. The department may apply for any federal, state, or other funding, including funding available through the Financial Literacy Trust Fund, as established by chapter 10, as amended by chapter 14 of the acts of 2011.