Amendment #1237 to H4400

Financial Literacy Advisory Committee

Ms. Peisch of Wellesley moves to amend the bill by adding the following section:

“SECTION XXXX. Notwithstanding any general or special law to the contrary, the advisory committee established under subsection (b) of section 200 of chapter 139 of the acts of 2012 is hereby revived and continued to December 31, 2022. The advisory committee shall, in consultation with the department of elementary and secondary education and individuals with relevant experience, including representatives from insurance and investment firms, real estate firms, consumer protection advocates and bankruptcy attorneys, track and evaluate the development and implementation of standards on personal financial literacy.

(b) The advisory committee shall conduct a study on: (i) programs on financial literacy being offered in the commonwealth to students in kindergarten to grade 12, inclusive, in the 2018-2019 academic year; and (ii) the cost of these programs to individual schools and school districts. The advisory committee shall submit the results of this study in a report to the clerks of the senate and the house of representatives and the chairs of the joint committee on education not later than August 31, 2019.

(c) For 3 years after submitting the results of the study under subsection (b), the advisory committee shall annually submit a report on best practices and recommended improvements to the personal financial literacy standards. Such report shall be submitted to the clerks of the senate and the house of representatives and the chairs of the joint committee on education not later than December 31.”

Additional co-sponsor(s) added to Amendment #1237 to H4400

Financial Literacy Advisory Committee