Assigned to ED FOR COMMITTEE
ARIZONA STATE SENATE
Fifty-Sixth Legislature, Second Regular Session
FACT SHEET FOR S.B. 1058
schools; academic standards; personal finance
Purpose
Requires the State Board of Education (SBE) to include a half-credit course on personal
finance in the social studies high school competency requirements and to adopt rules that establish
a voluntary personal finance endorsement for certificated high school teachers.
Background
The SBE must prescribe a minimum course of study, academic standards and competency
requirements for common schools and high schools. High school social studies standards must
include American civics and a comparative discussion of political ideologies as outlined and
competency requirements must include: 1) receiving a specified score on a test that is identical to
the civics portion of the U.S. naturalization test; 2) a requirement that students be taught about the
Holocaust and other genocides at least twice between grades 7 and 12; and 3) the completion of at
least a half-credit course in economics that includes financial literacy and management. The SBE
may consider establishing a separate required personal finance course as a competency
requirement for high school graduation (A.R.S. §§ 15-701 – 15-701.02).
The SBE supervises and controls the certification of persons engaged in instructional work
directly as classroom teachers and other school personnel by adopting rules for the issuance of
teaching certificates, including standard teaching certificates and subject-matter expert teaching
certificates (A.R.S. § 15-203).
There is no anticipated fiscal impact to the state General Fund associated with this
legislation.
Provisions
1. Requires, beginning with the graduating class of 2028, the SBE to include in the social studies
competency requirements that to graduate from high school or obtain a high school
equivalency diploma, a pupil must successfully complete a personal finance course that is at
least one-half of a course credit and includes personal finance:
a) activities, including banking, paying bills, investing, managing credit, paying for college,
budgeting, retirement planning, financing home ownership, financing transportation costs
and other consumer skills; and
b) subjects, including behavioral economics, insurance, types of credit, taxes and tax-advantaged
retirement plans.
2. Requires the SBE to adopt rules that establish a voluntary personal finance endorsement for
certificated teachers who provide personal finance instruction to students in grades 9 through 12. FACT SHEET
S.B. 1087
Page 2
3. Makes technical and conforming changes.
4. Becomes effective on the general effective date.
Prepared by Senate Research
January 12, 2024
MH/LB/slp