BILL ANALYSIS                                                                                                                                                                                                    Ó



                                                                     ACR 39


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          Date of Hearing: March 23, 2015  


                             ASSEMBLY COMMITTEE ON RULES


                                Richard Gordon, Chair


          ACR 39  
          (Dababneh) - As Amended March 17, 2015


          SUBJECT:  Financial Aid and Literacy Month.


          SUMMARY:  Declares the month of April 2015 as Financial Aid and  
          Literacy Month, with the theme of "Prosperity Through  
          Education," to raise public awareness about the continuing need  
          for increased financial literacy.  Specifically, this resolution  
          makes the following legislative findings:


          1)California law requires that financial education, including  
            budgeting, managing credit, student loans, consumer debt, and  
            identity theft security, is included in the next revision of  
            the social sciences, health, and mathematics curricula.


          2)A survey of teenagers found that 52 percent want to learn more  
            about budgeting, saving, and investing and 85 percent of  
            parents believe that financial education courses should be a  
            requirement for high school graduation.

          3)Only 5 percent of adults say they were taught about money by a  
            teacher and 40 percent would give themselves Cs, Ds, or Fs on  
            their grasp of personal finance concepts.

          4)According to T. Rowe Price's 2014 Parents, Kids, and Money  








                                                                     ACR 39


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            Survey, 69 percent of parents are "very/extremely" concerned  
            about setting a good financial example for their kids, but 74  
            percent admit they are reluctant to approach the topic because  
            they do not want their kids to worry.
          FISCAL EFFECT:  None


          REGISTERED SUPPORT / OPPOSITION:




          Support


          California Society of Certified Public Accountants (CalCPA)




          Opposition


          None on file




          Analysis Prepared by:Nicole Willis / RLS. / (916) 319-2800


















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