Senate
File
475
H-8145
Amend
the
amendment,
H-8001,
to
Senate
File
475,
as
amended,
1
passed,
and
reprinted
by
the
Senate,
as
follows:
2
1.
Page
12,
after
line
24
by
inserting:
3
<
DIVISION
___
4
FINANCIAL
LITERACY
5
Sec.
___.
Section
256.11,
subsection
5,
Code
2018,
is
6
amended
by
adding
the
following
new
paragraph:
7
NEW
PARAGRAPH
.
k.
One-half
unit
of
personal
finance
8
literacy.
All
students
shall
complete
at
least
one-half
unit
9
of
personal
finance
literacy
as
a
condition
of
graduation.
The
10
curriculum
shall,
at
a
minimum,
address
the
following:
11
(1)
Savings,
including
emergency
fund,
purchases,
and
12
wealth
building.
13
(2)
Understanding
investments,
including
compound
and
14
simple
interest,
liquidity,
diversification,
risk
return
15
ratio,
certificates
of
deposit,
money
market
accounts,
single
16
stocks,
bonds,
mutual
funds,
rental
real
estate,
annuities,
17
commodities,
and
futures.
18
(3)
Wealth
building
and
college
planning,
including
19
long-term
and
short-term
investing
using
tax-favored
plans,
20
individual
retirement
accounts
and
payments
from
such
accounts,
21
employer-sponsored
retirement
plans
and
investments,
public
and
22
private
educational
savings
accounts,
and
uniform
gifts
and
23
transfers
to
minors.
24
(4)
Credit
and
debt,
including
credit
cards,
payday
25
lending,
rent-to-own
transactions,
debt
consolidation,
26
automobile
leasing,
cosigning
a
loan,
debt
avoidance,
and
the
27
marketing
of
debt,
especially
to
young
people.
28
(5)
Consumer
awareness
of
the
power
of
marketing
on
buying
29
decisions
including
zero
percent
interest
offers;
marketing
30
methods,
including
product
positioning,
advertising,
brand
31
recognition,
and
personal
selling;
how
to
read
a
credit
report
32
and
correct
inaccuracies;
how
to
build
a
credit
score;
how
to
33
develop
a
plan
to
deal
with
creditors
and
avoid
bankruptcy;
and
34
the
federal
Fair
Debt
Collection
Practices
Act.
35
-1-
H8001.4086
(1)
87
kh/jh
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2
#1.
(6)
Financial
responsibility
and
money
management,
1
including
creating
and
living
on
a
written
budget
and
balancing
2
a
checkbook;
basic
rules
of
successful
negotiating
and
3
techniques;
and
personality
or
other
traits
regarding
money.
4
(7)
Insurance,
risk
management,
income,
and
career
5
decisions,
including
career
choices
that
fit
personality
styles
6
and
occupational
goals,
job
search
strategies,
cover
letters,
7
resumes,
interview
techniques,
payroll
taxes
and
other
income
8
withholdings,
and
revenue
sources
for
federal,
state,
and
local
9
governments.
10
(8)
Different
types
of
insurance
coverage
including
11
renters,
homeowners,
automobile,
health,
disability,
long-term
12
care,
identity
theft,
and
life
insurance;
term
life,
cash
13
value
and
whole
life
insurance;
and
insurance
terms
such
14
as
deductible,
stop
loss,
elimination
period,
replacement
15
coverage,
liability,
and
out-of-pocket.
16
(9)
Buying,
selling,
and
renting
advantages
and
17
disadvantages
relating
to
real
estate,
including
adjustable
18
rate,
balloon,
conventional,
government-backed,
reverse,
and
19
seller-financed
mortgages.
20
Sec.
___.
EFFECTIVE
DATE.
This
division
of
this
Act
takes
21
effect
July
1,
2019.
>
22
2.
By
renumbering
as
necessary.
23
______________________________
PETTENGILL
of
Benton
-2-
H8001.4086
(1)
87
kh/jh
2/
2
#2.