BILL ANALYSIS Ó
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|SENATE RULES COMMITTEE | AB 166|
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THIRD READING
Bill No: AB 166
Author: Roger Hernández (D), et al.
Amended: 6/5/13 in Senate
Vote: 21
SENATE EDUCATION COMMITTEE : 9-0, 6/12/13
AYES: Liu, Wyland, Block, Correa, Hancock, Hueso, Huff,
Monning, Torres
SENATE APPROPRIATIONS COMMITTEE : Senate Rule 28.8
ASSEMBLY FLOOR : 77-0, 4/15/13 - See last page for vote
SUBJECT : Pupil Instruction: financial literacy: curriculum
framework
SOURCE : Author
DIGEST : This bill requires the next revision of the
curriculum frameworks for history-social science, mathematics,
and health to include financial literacy.
ANALYSIS : Academic content standards define the knowledge,
concepts, and skills that pupils should acquire at each grade
level. Curriculum frameworks are the blueprint for implementing
the standards, and include criteria by which instructional
materials are evaluated.
The processes for reviewing frameworks and adopting
instructional materials have been suspended since July 28, 2009.
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The State Board of Education (SBE) is specifically prohibited
from reviewing curriculum frameworks and adopting instructional
materials until the 2015-16 school year, except as provided.
Notwithstanding the suspension, existing law:
1.Requires the SBE to adopt revised curriculum frameworks that
are aligned to the common core standards in:
A. Mathematics by November 30, 2013.
B. English language arts by May 30, 2014.
1.Authorizes the SBE to adopt a revised curriculum framework for
history-social science, but only after the Department of
Education (CDE) has completed work related to the frameworks
for the common core standards.
2.Requires the SBE, after January 1, 2003, to ensure that the
next revision of textbooks or curriculum frameworks in the
social sciences, health, and mathematics curricula integrate
certain topics, including financial preparedness.
This bill requires the next revision of the curriculum
frameworks for history-social science, mathematics, and health
to include financial literacy. Specifically, this bill:
1.Modifies the existing requirement that financial preparedness,
among other topics, be included in the next revision of
textbooks or curriculum frameworks in social sciences, health
and mathematics to instead include financial literacy.
2.Specifies that financial literacy includes budgeting and
managing credit, student loans, consumer debt, and identity
theft security.
Comments
According to the author's office, "California does not have an
official state policy or educational plan for the teaching of
financial literacy. Existing law allows high schools the option
of teaching personal finance within their required economics
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course. Unfortunately, most students graduate without receiving
any education on personal finance. The growing negative effects
of financial illiteracy, such as the housing mortgage crisis and
a low national savings rate, have spurred the need for financial
literacy education for California students.
Prior Legislation
SB 1080 (Lieu, 2012) would have required CDE to develop a
personal finances curriculum in the next adoption cycle in which
mathematics and history-social science curriculum frameworks are
adopted. SB 1080 would have also authorized schools to include
instruction related to personal finances in economics
instruction. SB 1080 was held on the Senate Appropriations
Committee's suspense file.
SB 779 (Lieu, 2011) would have authorized a school district, as
part of providing economics instruction in grades 7-12, to
include instruction related to the understanding of personal
finances, including, but not limited to, budget savings, credit,
and identify theft. SB 779 would have also required CDE to
consider developing a personal finances curriculum in the next
cycle in which the history-social science curriculum framework
is adopted. SB 779 was held on the Assembly Appropriations
Committee's suspense file.
SB 223 (Wyland, 2009) would have required that one-half of the
economics course required for high school graduation focus on
personal finance and financial literacy. SB 223 was held on the
Assembly Appropriations Committee's suspense file.
AB 1502 (Lieu, 2008) would have required the SBE and the
Curriculum Commission to ensure that information about financial
literacy is included in appropriate subject area frameworks and
encourages school districts to include instruction relating to
the understanding of personal finances. AB 1502 was vetoed by
the Governor Schwarzenegger, whose veto message read:
"While I acknowledge that teaching students the importance
of financial literacy is meritorious, school districts
already have the flexibility to incorporate money
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management into their lesson plans. Moreover, the SBE
adopted content standards are developed by a diverse group
of experts and are intentionally broad in order to allow
coverage of various events, developments, and issues. I
continue to believe that the state should establish
rigorous academic standards and frameworks, but refrain
from being overly prescriptive in specific school
curriculum."
FISCAL EFFECT : Appropriation: No Fiscal Com.: Yes
Local: No
SUPPORT : (Verified 6/21/13)
Associated Students of University of California, Davis
California Bankers Association
California Communities United Institute
California Council on Economic Education
California Credit Union League
California Independent Bankers
California Jump$tart Coalition for Personal Financial Literacy
California Society of Certified Public Accountants
Compton Unified School District
El Monte Union High School District
Salinas Union High School District
San Joaquin County Hispanic Chamber of Commerce
Sus Finanzas
ASSEMBLY FLOOR : 77-0, 4/15/13
AYES: Achadjian, Alejo, Allen, Ammiano, Atkins, Bigelow, Bloom,
Blumenfield, Bocanegra, Bonilla, Bonta, Bradford, Brown,
Buchanan, Ian Calderon, Campos, Chau, Chávez, Chesbro, Conway,
Cooley, Dahle, Daly, Dickinson, Donnelly, Eggman, Fong, Fox,
Frazier, Beth Gaines, Garcia, Gatto, Gomez, Gordon, Gorell,
Gray, Grove, Hagman, Hall, Roger Hernández, Holden, Jones,
Jones-Sawyer, Levine, Linder, Logue, Maienschein, Mansoor,
Medina, Melendez, Mitchell, Morrell, Mullin, Muratsuchi,
Nazarian, Nestande, Olsen, Pan, Patterson, Perea, V. Manuel
Pérez, Quirk, Quirk-Silva, Rendon, Salas, Skinner, Stone,
Ting, Torres, Wagner, Waldron, Weber, Wieckowski, Wilk,
Williams, Yamada, John A. Pérez
NO VOTE RECORDED: Harkey, Lowenthal, Vacancy
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PQ:ej 6/25/13 Senate Floor Analyses
SUPPORT/OPPOSITION: SEE ABOVE
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