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