New York S 4812: Establishes a course of study in financial education for certain students

Bill Text

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S04812 Summary:

BILL NOS04812 

&nbsp

SAME ASSAME AS A01337

&nbsp

SPONSORADDABBO

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §803-c, Ed L

&nbsp

Establishes a half-credit course in financial education delivered by means of a comprehensive financial literacy program for all pupils in grades nine, ten, eleven or twelve.

Go to top S04812 Actions:

BILL NOS04812 

&nbsp

02/13/2025REFERRED TO EDUCATION

01/07/2026REFERRED TO EDUCATION

Go to topS04812 Committee&nbspVotes:

Go to topS04812 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04812 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4812

 2025-2026 Regular Sessions

 IN SENATE

 February 13, 2025
 ___________

 Introduced by Sen. ADDABBO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Education

 AN ACT to amend the education law, in relation to establishing a course
 of study in financial education for certain students

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The education law is amended by adding a new section 803-c
 2 to read as follows:
 3 § 803-c. Courses of study in financial education. 1. All pupils in
 4 grades nine, ten, eleven and twelve shall be offered a half-credit
 5 course in financial education delivered by means of a comprehensive
 6 financial literacy program.
 7 2. The commissioner, in consultation with the department of financial
 8 services, shall develop a curriculum for the study of financial literacy
 9 pursuant to subdivision one of this section. Such curriculum shall
 10 include, but not be limited to, instruction in the following:
 11 a. opening and maintaining an account at a financial institution;
 12 b. types of financial products offered including insurance;
 13 c. understanding loans including auto loans, student loans, and
 14 personal loans;
 15 d. on-going monitoring of expenditures and deposits;
 16 e. basic principles of money management, such as spending, credit,
 17 credit scores, and managing debt;
 18 f. taxes;
 19 g. computing interest rates by various mechanisms;
 20 h. simple contracts;
 21 i. understanding billing statements;
 22 j. types of savings and investments;
 23 k. state and federal laws concerning finance;
 24 l. financial planning; and
 25 m. understanding the present value of money.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02618-01-5

 S. 4812 2

 1 § 2. This act shall take effect on the one hundred twentieth day after
 2 it shall have become a law. Effective immediately, the addition, amend-
 3 ment and/or repeal of any rule or regulation necessary for the implemen-
 4 tation of this act on its effective date are authorized to be made and
 5 completed on or before such effective date.

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