AB 2546,
as amended, Calderon. begin deleteCalifornia Financial Literacy Fund: advisory committee. end deletebegin insertPupil instruction: history-social science curriculum framework: financial literacy.end insert
Existing law requires the adopted course of study for grades 1 to 6, inclusive, and for grades 7 to 12, inclusive, to offer courses in specified areas of study, including social sciences. Existing law establishes the Instructional Quality Commission and requires the commission to, among other things, recommend curriculum frameworks to the State Board of Education. Existing law requires the state board, concurrently with, but not prior to, the next revision of textbooks or curriculum frameworks in the social sciences, health, and mathematics curricula, to ensure that these academic areas integrate components of, among other things, financial literacy.
end insertbegin insertNotwithstanding that requirement on the state board, this bill would require the commission, when the history-social science curriculum framework is revised after January 1, 2017, to consider including age-appropriate information for kindergarten and grades 1 to 12, inclusive, on financial literacy, as specified.
end insertExisting law establishes the California Financial Literacy Fund in the State Treasury to enable partnerships with the financial services community and governmental and nongovernmental stakeholders to improve Californians’ financial literacy. Existing law authorizes the Controller to convene a financial literacy advisory committee to provide additional oversight of the fund and develop strategies to improve financial literacy.
end deleteThis bill would require the Controller, on or before July 1, 2017, to convene one or more meetings of the financial literacy advisory committee.
end deleteVote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
begin insertSection 51284.5 is added to the end insertbegin insertEducation Codeend insertbegin insert,
2to read:end insert
Notwithstanding Section 51284, when the
4history-social science curriculum framework is revised after
5January 1, 2017, the Instructional Quality Commission shall
6consider including both of the following:
7
(a) Age-appropriate information for grade spans, as listed in
8paragraphs (1) to (3), inclusive, of subdivision (b), on financial
9literacy that includes, but is not limited to, all of the following:
10
(1) Fundamentals of banking for personal use, including, but
11not limited to, savings and checking.
12
(2) Principles of budgeting and personal finance.
13
(3) Employment and
understanding factors that affect net
14income.
15
(4) Uses and costs of credit, including the relation of debt and
16interest to credit.
17
(5) Uses and costs of loans, including student loans.
18
(6) Types and costs of insurance.
19
(7) Forms of governmental taxation.
20
(8) Principles of investing and building wealth.
21
(9) Identity theft and security.
22
(10) Planning and paying for postsecondary education.
23
(11) Charitable giving.
P3 1
(b) Age-appropriate
content related to the topics listed in
2paragraphs (1) to (11), inclusive, of subdivision (a), at least twice
3in each of the following grade spans:
4
(1) Kindergarten and grades 1 to 5, inclusive.
5
(2) Grades 6 to 8, inclusive.
6
(3) Grades 9 to 12, inclusive.
Section 70003 of the Financial Code is amended
8to read:
On or before July 1, 2017, the Controller shall convene
10one or more meetings of a financial literacy advisory committee
11to provide additional oversight of the fund and develop strategies
12to improve financial literacy.
The committee shall comply with
13the Bagley-Keene Open Meeting Act (Article 9 (commencing with
14Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of
15the Government Code).
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