New York A 8733: Relates to financial literacy instruction

Bill Text

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A08733 Summary:

BILL NOA08733 

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SAME ASNo Same As

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SPONSORSmullen

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COSPNSRBrabenec

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MLTSPNSR

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Add §§803-c, 803-d, 355-f & 6235, Ed L

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Directs the state board of regents to develop or adopt financial literacy learning standards for students in grades four through eight; provides that all public, charter, and nonpublic high schools shall offer and students at such schools shall successfully complete a course in financial literacy; directs the trustees of the state university of New York, in consultation with faculty, student representatives and subject matter experts, to develop a comprehensive financial literacy course; directs the trustees of the city university of New York, in consultation with faculty, student representatives and subject matter experts, to develop a comprehensive financial literacy course.

Go to top A08733 Actions:

BILL NOA08733 

&nbsp

06/02/2025referred to education

01/07/2026referred to education

Go to topA08733 Committee&nbspVotes:

Go to topA08733 Floor&nbspVotes:

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

Go to topA08733 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8733

 2025-2026 Regular Sessions

 IN ASSEMBLY

 June 2, 2025
 ___________

 Introduced by M. of A. SMULLEN -- read once and referred to the Commit-
 tee on Education

 AN ACT to amend the education law, in relation to financial literacy
 instruction

 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. Financial literacy instruction in elementary and middle
 4 schools. 1. The state board of regents shall develop or adopt grade-
 5 based financial literacy learning standards for students in grades four
 6 through eight, which shall be integrated into the existing state learn-
 7 ing standards for mathematics. Such standards shall address, at a mini-
 8 mum, the following competencies in an age-appropriate manner:
 9 a. basic saving, goal setting, and budgeting;
 10 b. understanding income, wages, and taxes;
 11 c. introduction to banks, credit unions, and other financial insti-
 12 tutions; and
 13 d. the concept of investments and interest.
 14 2. The commissioner may provide technical assistance to assist in the
 15 development of age-appropriate curricula for such courses of study which
 16 shall be developed according to the needs and abilities of pupils at
 17 successive grade levels to provide awareness, skills and a comprehensive
 18 understanding of financial literacy principles.
 19 § 2. The education law is amended by adding a new section 803-d to
 20 read as follows:
 21 § 803-d. Financial literacy instruction in secondary schools. 1.
 22 Commencing with students entering ninth grade in the first academic year
 23 following the effective date of this act and thereafter, every public,
 24 charter, and nonpublic high school shall offer and every such student
 25 shall successfully complete a one-semester course in financial literacy

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13231-01-5

 A. 8733 2

 1 earning one-half unit of credit as a condition of graduation. The state
 2 board of regents shall develop age-appropriate model curriculum that may
 3 be adopted by schools pursuant to this section that includes, at a mini-
 4 mum:
 5 a. personal budgeting and cash-flow management;
 6 b. banking services and debit products;
 7 c. interest, credit card debt, and online commerce;
 8 d. credit, loans, and consumer debt (including student loans);
 9 e. bankruptcy;
 10 f. investment fundamentals, including retirement and emergency funds;
 11 g. insurance and risk management;
 12 h. rights and obligations under state and federal consumer-protection
 13 laws;
 14 i. understanding state and federal taxes; and
 15 j. the financial impact and consequences of gambling.
 16 § 3. The education law is amended by adding a new section 355-f to
 17 read as follows:
 18 § 355-f. Financial literacy program. 1. Notwithstanding any other
 19 provision of law, the trustees of the state university of New York
 20 shall, in consultation with f