BILL ANALYSIS
------------------------------------------------------------
|SENATE RULES COMMITTEE | AB 1492|
|Office of Senate Floor Analyses | |
|1020 N Street, Suite 524 | |
|(916) 445-6614 Fax: (916) | |
|327-4478 | |
------------------------------------------------------------
THIRD READING
Bill No: AB 1492
Author: Evans (D)
Amended: 8/17/05 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
SENATE APPROPRIATIONS COMMMITTEE : Senate Rule 28.8
ASSEMBLY FLOOR : 55-14, 5/5/05 - See last page for vote
(MAY NOT BE RELEVANT - SEE NOTE IN DIGEST)
SUBJECT : Instruction: economics
SOURCE : Author
DIGEST : This bill provides that the Superintendent of
Public Instruction shall make a list available to teachers
of organizations that provide teacher training on the
subject of financial preparedness.
NOTE: Amendments of 8/17/05 delete the previous version
which authorized school districts to offer
instruction related to personal finances as part of
economics instruction.
ANALYSIS : Under current law, educational institutions
CONTINUED
AB 1492
Page
2
have developed a model curriculum in lifelong healthy aging
and financial preparedness with materials, free of charge,
that the Superintendent of Public Instruction (SPI)
disseminates to school teachers. The SPI makes this
material available to teachers, with information and links
provided through the Internet, in order to provide to
students in grades 7 to 12, instruction on human growth,
human development, and financial preparedness.
This bill adds to these provisions the requirement that the
SPI make a list available to teachers or organizations that
provide teacher training on the subject of financial
preparedness.
The bill specifies that "financial preparedness" means an
understanding of personal finances, including, but not
limited to, budgeting, savings, credit, and identity theft.
Prior Legislation
AB 2435 (Wiggins) of the 2003-04 Session, 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.
FISCAL EFFECT : Appropriation: No Fiscal Com.: No
Local: No
SUPPORT : (Verified 8/17/05)
AB 1492
Page
3
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.
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 8/17/05 Senate Floor Analyses
SUPPORT/OPPOSITION: SEE ABOVE
**** END ****