Senate File 2150 - Introduced



                                       SENATE FILE       
                                       BY  BOLKCOM


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the financial literacy component of the model
  2    core curriculum developed by the state board of education.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 6115XS 82
  5 kh/nh/8

PAG LIN



  1  1    Section 1.  Section 256.7, subsection 26, Code Supplement
  1  2 2007, is amended to read as follows:
  1  3    26.  a.  Adopt rules that establish a voluntary model core
  1  4 curriculum and requiring, beginning with the students in the
  1  5 2010==2011 school year graduating class, high school
  1  6 graduation requirements for all students in school districts
  1  7 and accredited nonpublic schools that include at a minimum
  1  8 satisfactory completion of four years of English and language
  1  9 arts, three years of mathematics, three years of science, and
  1 10 three years of social studies.  The voluntary model core
  1 11 curriculum adopted shall address the core content standards in
  1 12 subsection 28 and the skills and knowledge students need to be
  1 13 successful in the twenty=first century.  The voluntary model
  1 14 core curriculum shall include social studies and twenty=first
  1 15 century learning skills which include but are not limited to
  1 16 civic literacy, health literacy, technology literacy,
  1 17 financial literacy, and employability skills; and shall
  1 18 address the curricular needs of students in kindergarten
  1 19 through grade twelve in those areas.  For purposes of this
  1 20 subsection, "financial literacy" shall include but not be
  1 21 limited to financial responsibility and planning skills; money
  1 22 management skills, including setting financial goals, creating
  1 23 spending plans, and using financial instruments; applying
  1 24 decision=making skills to analyze debt incurrence and debt
  1 25 management; understanding risk management, including the
  1 26 features and functions of insurance; and understanding saving
  1 27 and investing as applied to long=term financial security and
  1 28 asset building.
  1 29    b.  The state board shall continue the inclusive process
  1 30 begun during the initial development of a voluntary model core
  1 31 curriculum for grades nine through twelve including
  1 32 stakeholder involvement, including but not limited to
  1 33 representatives from the private sector and the business
  1 34 community, and alignment of the voluntary model core
  1 35 curriculum to other recognized sets of national and
  2  1 international standards.  The state board shall also recommend
  2  2 quality assessments to school districts and accredited
  2  3 nonpublic schools to measure the voluntary model core
  2  4 curriculum.
  2  5                           EXPLANATION
  2  6    This bill establishes that "financial literacy," for
  2  7 purposes of the model core curriculum adopted by the state
  2  8 board of education, shall include but not be limited to
  2  9 financial responsibility and planning skills; money management
  2 10 skills, including but not limited to setting financial goals;
  2 11 creating spending plans and using financial instruments;
  2 12 applying decision=making skills to analyze debt incurrence and
  2 13 debt management; understanding risk management, including the
  2 14 features and functions of insurance; and understanding saving
  2 15 and investing as applied to long=term financial security and
  2 16 asset building.
  2 17 LSB 6115XS 82
  2 18 kh/nh/8