BILL ANALYSIS
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|SENATE RULES COMMITTEE | AB 1492|
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THIRD READING
Bill No: AB 1492
Author: Evans (D)
Amended: 6/14/05 in Senate
Vote: 21
SENATE EDUCATION COMMITTEE : 10-0, 6/8/05
AYES: Scott, Alquist, Denham, Dutton, Lowenthal, Romero,
Simitian, Soto, Speier, Torlakson
NO VOTE RECORDED: Maldonado, Morrow
ASSEMBLY FLOOR : 55-14, 5/5/05 - See last page for vote
SUBJECT : Instruction: economics
SOURCE : Author
DIGEST : This bill authorizes schools to offer
instruction related to personal finances as part of
economics instruction. The bill also directs the
California Department of Education to consider developing a
personal finances curriculum, as specified.
ANALYSIS :
Current law requires;
1.A student to complete a one-semester course in economics,
among other requirements, to be eligible for a high
school diploma.
CONTINUED
AB 1492
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2.The course of study for grades 7-12 to offer courses in
social sciences, including the development of the
American economic system.
3.The Superintendent of Public Instruction (SPI), with the
approval of the State Board of Education, to develop a
one-semester consumer economics course for grades 7-12.
The course must include personal banking, basic
contracts, using consumer purchasing guides, uses and
costs of credit, types and costs of insurance, and types
of taxation.
This bill authorizes a school district, in providing
instruction in economics, to include instruction related to
the understanding of personal finances, including
budgeting, savings, and credit.
This bill directs the California Department of Education to
consider developing a personal finances curriculum in the
next cycle in which the history-social science curriculum
framework and its accompanying instructional materials are
adopted.
Prior Legislation
AB 2435 (Wiggins) of the 2003-04 Session, was similar to
this bill. AB 2435 was vetoed. The Governor's veto
message read, in pertinent part:
"Allowing school districts to teach middle school and
high school students about the importance of properly
maintaining their personal finances is a worthy
objective. However, this bill is unnecessary because
school districts already have the authority to teach
budgeting, savings, and credit, under current law."
AB 707 (Correa), 2003-04 Session, required the SPI and the
Department of Consumer Affairs to establish a Personal
Financial Management Curriculum Task Force to develop
curriculum and educational programs for grades 7-12 in
comprehensive personal finance management, including
consumer education, debt management, and financial
management. AB 707 was held in the Assembly Appropriations
Committee.
AB 1492
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FISCAL EFFECT : Appropriation: No Fiscal Com.: No
Local: No
SUPPORT : (Verified 6/14/05)
California State PTA
Coalition for Quality Credit Counseling
Junior League of San Diego
Junior League of California State Public Affairs Committee
The Junior League of San Francisco, Inc.
OPPOSITION : (Verified 6/14/05)
Office of the Secretarty for Education
ASSEMBLY FLOOR :
AYES: Arambula, Baca, Bass, Berg, Bermudez, Blakeslee,
Bogh, Calderon, Canciamilla, Chan, Chavez, Chu, Cohn,
Coto, De La Torre, Dymally, Evans, Frommer, Garcia,
Goldberg, Hancock, Shirley Horton, Huff, Jones, Karnette,
Klehs, Koretz, Laird, Leno, Lieber, Liu, Matthews,
Montanez, Mullin, Nakanishi, Nation, Nava, Negrete
McLeod, Oropeza, Parra, Pavley, Richman, Ridley-Thomas,
Ruskin, Saldana, Salinas, Strickland, Torrico, Tran,
Umberg, Vargas, Walters, Wyland, Yee, Nunez
NOES: Aghazarian, Daucher, DeVore, Harman, Haynes,
Houston, Keene, La Malfa, La Suer, Mountjoy, Niello,
Plescia, Spitzer, Villines
NO VOTE RECORDED: Benoit, Cogdill, Emmerson, Gordon,
Jerome Horton, Leslie, Levine, Maze, McCarthy, Sharon
Runner, Wolk
NC:cm 6/14/05 Senate Floor Analyses
SUPPORT/OPPOSITION: SEE ABOVE
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