| 1 | 1 | | |
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| 2 | 2 | | HB0090a -1- HB 90 |
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| 3 | 3 | | New Text Underlined [DELETED TEXT BRACKETED] |
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| 4 | 4 | | |
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| 5 | 5 | | 34-LS0460\A |
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| 7 | 7 | | |
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| 8 | 8 | | |
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| 10 | 10 | | |
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| 11 | 11 | | HOUSE BILL NO. 90 |
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| 12 | 12 | | |
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| 13 | 13 | | IN THE LEGISLATURE OF THE STATE OF ALASKA |
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| 14 | 14 | | |
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| 15 | 15 | | THIRTY-FOURTH LEGISLATURE - FIRST SESSION |
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| 16 | 16 | | |
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| 17 | 17 | | BY REPRESENTATIVE EISCHEID |
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| 18 | 18 | | |
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| 19 | 19 | | Introduced: 2/10/25 |
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| 20 | 20 | | Referred: Education, Finance |
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| 21 | 21 | | |
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| 22 | 22 | | |
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| 23 | 23 | | A BILL |
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| 24 | 24 | | |
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| 25 | 25 | | FOR AN ACT ENTITLED |
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| 26 | 26 | | |
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| 27 | 27 | | "An Act establishing a financial literacy education program for public schools; and 1 |
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| 28 | 28 | | providing for an effective date." 2 |
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| 29 | 29 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3 |
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| 30 | 30 | | * Section 1. AS 14.30 is amended by adding a new section to read: 4 |
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| 31 | 31 | | Article 17. Financial Literacy Education Program. 5 |
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| 32 | 32 | | Sec. 14.30.850. Financial literacy education program. (a) Each school 6 |
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| 33 | 33 | | district shall establish a literacy education program for students in grades nine through 7 |
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| 34 | 34 | | 12. The program must be approved by the department. The department shall curate 8 |
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| 35 | 35 | | and make available to school districts a list of open educational resources that are 9 |
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| 36 | 36 | | approved by the department that in combination address the topics listed in (1) - (14) 10 |
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| 37 | 37 | | of this subsection. The list shall include open educational resources that address the 11 |
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| 38 | 38 | | topic listed in (15) of this subsection if those resources are available. The department 12 |
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| 39 | 39 | | shall update this list at least once every five years. A school district may provide the 13 |
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| 40 | 40 | | program through one or more courses offered by the school district, but the program's 14 34-LS0460\A |
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| 41 | 41 | | HB 90 -2- HB0090a |
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| 42 | 42 | | New Text Underlined [DELETED TEXT BRACKETED] |
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| 43 | 43 | | |
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| 44 | 44 | | hours of instruction must in the aggregate be equivalent to a one-half credit hour 1 |
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| 45 | 45 | | course. A school may not issue a high school diploma to a student unless the student 2 |
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| 46 | 46 | | has completed a financial literacy program under this section. The program must 3 |
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| 47 | 47 | | include, to the maximum extent practicable, discussion of or instruction on 4 |
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| 48 | 48 | | (1) different types of financial institutions and opening and managing 5 |
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| 49 | 49 | | an account with a financial institution; 6 |
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| 50 | 50 | | (2) making a budget; 7 |
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| 51 | 51 | | (3) basic principles of money management, including spending, credit, 8 |
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| 52 | 52 | | credit scores, and managing retail debt, credit card debt, and other types of debt; 9 |
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| 53 | 53 | | (4) basic principles of completing a loan application; 10 |
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| 54 | 54 | | (5) basic principles of personal insurance policies; 11 |
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| 55 | 55 | | (6) basic computation of federal income taxes; 12 |
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| 56 | 56 | | (7) avoiding fraud, financial deception, and predatory lending 13 |
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| 57 | 57 | | practices; 14 |
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| 58 | 58 | | (8) simple contracts; 15 |
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| 59 | 59 | | (9) contesting an incorrect billing statement; 16 |
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| 60 | 60 | | (10) computing interest rates by various mechanisms; 17 |
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| 61 | 61 | | (11) types of savings and investments; 18 |
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| 62 | 62 | | (12) basic principles of retirement accounts; 19 |
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| 63 | 63 | | (13) receiving an inheritance and related financial implications; 20 |
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| 64 | 64 | | (14) postsecondary financial aid and scholarships; and 21 |
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| 65 | 65 | | (15) financial implications of being a member or a beneficiary of a 22 |
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| 66 | 66 | | Native corporation established under 43 U.S.C. 1601 et seq. (Alaska Native Claims 23 |
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| 67 | 67 | | Settlement Act) or a similar entity, including payment of dividends and issuance of 24 |
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| 68 | 68 | | shares. 25 |
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| 69 | 69 | | (b) Notwithstanding (a) of this section, a school may issue a secondary school 26 |
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| 70 | 70 | | diploma to a student who has not completed the program described in (a) of this 27 |
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| 71 | 71 | | section if the student transferred into the school district from another school district, 28 |
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| 72 | 72 | | state, or country after completing grade 10. 29 |
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| 73 | 73 | | (c) In this section, 30 |
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| 74 | 74 | | (1) "open educational resource" means learning, teaching, or research 31 34-LS0460\A |
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| 75 | 75 | | HB0090a -3- HB 90 |
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| 76 | 76 | | New Text Underlined [DELETED TEXT BRACKETED] |
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| 77 | 77 | | |
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| 78 | 78 | | material in any format that resides in the public domain or is under copyright and has 1 |
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| 79 | 79 | | been released under an open license that permits access at no cost as well as reuse, 2 |
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| 80 | 80 | | repurpose, adaptation, and redistribution by others; 3 |
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| 81 | 81 | | (2) "school district" has the meaning given in AS 14.30.350. 4 |
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| 82 | 82 | | * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 5 |
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| 83 | 83 | | read: 6 |
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| 84 | 84 | | APPLICABILITY. This Act applies to students who will graduate from high school 7 |
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| 85 | 85 | | on or after January 1, 2027. 8 |
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| 86 | 86 | | * Sec. 3. This Act takes effect July 1, 2026. 9 |
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