SENATE DOCKET, NO. 1102        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 277

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Eric P. Lesser

_________________

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 promoting financial literacy in schools.

_______________

PETITION OF:

 

Name:

District/Address:

 

Eric P. Lesser

First Hampden and Hampshire

 

Jason M. Lewis

Fifth Middlesex

1/30/2017

Sal N. DiDomenico

Middlesex and Suffolk

1/30/2017

Brian M. Ashe

2nd Hampden

1/31/2017

Robert M. Koczera

11th Bristol

1/31/2017

Barbara A. L'Italien

Second Essex and Middlesex

2/2/2017

Daniel Cullinane

12th Suffolk

2/2/2017

Mary S. Keefe

15th Worcester

2/2/2017

Richard J. Ross

Norfolk, Bristol and Middlesex

10/18/2017


SENATE DOCKET, NO. 1102        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 277

By Mr. Lesser, a petition (accompanied by bill, Senate, No. 277) of Eric P. Lesser, Jason M. Lewis, Sal N. DiDomenico, Brian M. Ashe and other members of the General Court for legislation to promote financial literacy in schools.  Education.

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act promoting financial literacy in schools.

 

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. Section 2 of chapter 71 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by adding, at the end thereof, the following paragraph: -

A course on personal financial literacy shall be taught to all public high school students in grades 11 or 12 prior to graduation. Said course shall include, but not be limited to, the following subject matter: utilizing checking and savings accounts, obtaining short or long term credit,  securing  a  loan  for high cost items such as a motor vehicle or a home, obtaining and using credit and debit cards, investing  and  saving money, and planning for retirement. The commissioner is directed to recommend model curriculum for said personal financial literacy course, which may include free and online materials.

SECTION 2. Notwithstanding any general or special law to the contrary, public colleges and universities, including community colleges, are encouraged to require the completion of a personal financial literacy course as  a graduation requirement for undergraduate student.