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Amend Senate File 391 as follows:
1. Page 8, line 1, after <internet> by inserting <except as
otherwise provided in section 256.43 or in rules adopted by the
state board of education pursuant to section 256.7, subsection
32>
2. By striking page 15, line 8, through page 16, line 24,
and inserting:
<Sec. ___. Section 256.11, subsection 5, paragraph k, Code
2023, is amended to read as follows:
k. (1) One-half unit of personal finance literacy, which
may be offered and taught through dedicated units of coursework
or through units of coursework that also meet the requirements
of the coursework required under paragraph “a”, “b”, “c”, “d”,
“e”, or “h”. All students, beginning with the students in the
2020-2021 school year graduating class, shall complete at least
one-half unit of personal finance literacy as a condition of
graduation.
(1) The personal financial literacy curriculum shall, at a
minimum, address all of the following:
(a) Savings, including emergency fund, purchases, and
wealth building.
(b) Understanding investments, including compound and
simple interest, liquidity, diversification, risk return
ratio, certificates of deposit, money market accounts, single
stocks, bonds, mutual funds, rental real estate, annuities,
commodities, and futures.
(c) Wealth building and college planning, including
long-term and short-term investing using tax-favored plans,
individual retirement accounts and payments from such accounts,
employer-sponsored retirement plans and investments, public and
private educational savings accounts, and uniform gifts and
transfers to minors.
(d) Credit and debt, including credit cards, payday
lending, rent-to-own transactions, debt consolidation,
automobile leasing, cosigning a loan, debt avoidance, and the
marketing of debt, especially to young people.
(e) Consumer awareness of the power of marketing on buying
decisions including zero percent interest offers; marketing
methods, including product positioning, advertising, brand
recognition, and personal selling; how to read a credit report
and correct inaccuracies; how to build a credit score; how to
develop a plan to deal with creditors and avoid bankruptcy; and
the federal Fair Debt Collection Practices Act, codified at 15
U.S.C. §1692 – 1692p.
(f) Financial responsibility and money management,
including creating and living on a written budget and balancing
a checkbook; basic rules of successful negotiating and
techniques; and personality or other traits regarding money.
(g) Insurance, risk management, income, and career
decisions, including career choices that fit personality styles
and occupational goals, job search strategies, cover letters,
resumes, interview techniques, payroll taxes and other income
withholdings, and revenue sources for federal, state, and local
governments.
(h) Different types of insurance coverage including
renters, homeowners, automobile, health, disability, long-term
care, identity theft, and life insurance; term life, cash
value and whole life insurance; and insurance terms such
as deductible, stop loss, elimination period, replacement
coverage, liability, and out-of-pocket.
(i) Buying, selling, and renting advantages and
disadvantages relating to real estate, including adjustable
rate, balloon, conventional, government-backed, reverse, and
seller-financed mortgages.
(2) (a) One-half unit of personal finance literacy may
count as one-half unit of social studies in meeting the
requirements of paragraph “b”, though the teacher providing
personal finance literacy coursework that counts as one-half
unit of social studies need not hold a social studies
endorsement.
(b) Units of coursework that meet the requirements of any
combination of coursework required under paragraphs paragraph
“a”, “b”, “c”, “d”, “e”, or “h” and incorporate the curriculum
required under subparagraph (1) shall be deemed to satisfy
the offer and teach requirements of this paragraph “k” and a
student who completes such units shall be deemed to have met
the graduation requirement of this paragraph “k”.>
3. By renumbering as necessary.
______________________________
1. Page 8, line 1, after <internet> by inserting <except as
otherwise provided in section 256.43 or in rules adopted by the
state board of education pursuant to section 256.7, subsection
32>
2. By striking page 15, line 8, through page 16, line 24,
and inserting:
<Sec. ___. Section 256.11, subsection 5, paragraph k, Code
2023, is amended to read as follows:
k. (1) One-half unit of personal finance literacy, which
may be offered and taught through dedicated units of coursework
or through units of coursework that also meet the requirements
of the coursework required under paragraph “a”, “b”, “c”, “d”,
“e”, or “h”. All students, beginning with the students in the
2020-2021 school year graduating class, shall complete at least
one-half unit of personal finance literacy as a condition of
graduation.
(1) The personal financial literacy curriculum shall, at a
minimum, address all of the following:
(a) Savings, including emergency fund, purchases, and
wealth building.
(b) Understanding investments, including compound and
simple interest, liquidity, diversification, risk return
ratio, certificates of deposit, money market accounts, single
stocks, bonds, mutual funds, rental real estate, annuities,
commodities, and futures.
(c) Wealth building and college planning, including
long-term and short-term investing using tax-favored plans,
individual retirement accounts and payments from such accounts,
employer-sponsored retirement plans and investments, public and
private educational savings accounts, and uniform gifts and
transfers to minors.
(d) Credit and debt, including credit cards, payday
lending, rent-to-own transactions, debt consolidation,
automobile leasing, cosigning a loan, debt avoidance, and the
marketing of debt, especially to young people.
(e) Consumer awareness of the power of marketing on buying
decisions including zero percent interest offers; marketing
methods, including product positioning, advertising, brand
recognition, and personal selling; how to read a credit report
and correct inaccuracies; how to build a credit score; how to
develop a plan to deal with creditors and avoid bankruptcy; and
the federal Fair Debt Collection Practices Act, codified at 15
U.S.C. §1692 – 1692p.
(f) Financial responsibility and money management,
including creating and living on a written budget and balancing
a checkbook; basic rules of successful negotiating and
techniques; and personality or other traits regarding money.
(g) Insurance, risk management, income, and career
decisions, including career choices that fit personality styles
and occupational goals, job search strategies, cover letters,
resumes, interview techniques, payroll taxes and other income
withholdings, and revenue sources for federal, state, and local
governments.
(h) Different types of insurance coverage including
renters, homeowners, automobile, health, disability, long-term
care, identity theft, and life insurance; term life, cash
value and whole life insurance; and insurance terms such
as deductible, stop loss, elimination period, replacement
coverage, liability, and out-of-pocket.
(i) Buying, selling, and renting advantages and
disadvantages relating to real estate, including adjustable
rate, balloon, conventional, government-backed, reverse, and
seller-financed mortgages.
(2) (a) One-half unit of personal finance literacy may
count as one-half unit of social studies in meeting the
requirements of paragraph “b”, though the teacher providing
personal finance literacy coursework that counts as one-half
unit of social studies need not hold a social studies
endorsement.
(b) Units of coursework that meet the requirements of any
combination of coursework required under paragraphs paragraph
“a”, “b”, “c”, “d”, “e”, or “h” and incorporate the curriculum
required under subparagraph (1) shall be deemed to satisfy
the offer and teach requirements of this paragraph “k” and a
student who completes such units shall be deemed to have met
the graduation requirement of this paragraph “k”.>
3. By renumbering as necessary.
______________________________