CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 531Introduced by Senator Ochoa BoghFebruary 14, 2023 An act to add Section 69516.5 to the Education Code, relating to financial literacy. LEGISLATIVE COUNSEL'S DIGESTSB 531, as introduced, Ochoa Bogh. Financial literacy: student financial aid.Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education.Existing law establishes the Department of Financial Protection and Innovation, under the direction of the Commissioner of Financial Protection and Innovation, and sets forth its powers and duties regarding administration of various laws relating to financial institutions, including banks and credit unions.This bill would require the Student Aid Commission and the Department of Financial Protection and Innovation to prominently display a link to a specified financial literacy document created by the Federal Student Aid Information Center on the home page of their respective internet websites.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 69516.5 is added to the Education Code, to read:69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 531Introduced by Senator Ochoa BoghFebruary 14, 2023 An act to add Section 69516.5 to the Education Code, relating to financial literacy. LEGISLATIVE COUNSEL'S DIGESTSB 531, as introduced, Ochoa Bogh. Financial literacy: student financial aid.Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education.Existing law establishes the Department of Financial Protection and Innovation, under the direction of the Commissioner of Financial Protection and Innovation, and sets forth its powers and duties regarding administration of various laws relating to financial institutions, including banks and credit unions.This bill would require the Student Aid Commission and the Department of Financial Protection and Innovation to prominently display a link to a specified financial literacy document created by the Federal Student Aid Information Center on the home page of their respective internet websites.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Senate Bill
No. 531
Introduced by Senator Ochoa BoghFebruary 14, 2023
Introduced by Senator Ochoa Bogh
February 14, 2023
An act to add Section 69516.5 to the Education Code, relating to financial literacy.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 531, as introduced, Ochoa Bogh. Financial literacy: student financial aid.
Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education.Existing law establishes the Department of Financial Protection and Innovation, under the direction of the Commissioner of Financial Protection and Innovation, and sets forth its powers and duties regarding administration of various laws relating to financial institutions, including banks and credit unions.This bill would require the Student Aid Commission and the Department of Financial Protection and Innovation to prominently display a link to a specified financial literacy document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education.
Existing law establishes the Department of Financial Protection and Innovation, under the direction of the Commissioner of Financial Protection and Innovation, and sets forth its powers and duties regarding administration of various laws relating to financial institutions, including banks and credit unions.
This bill would require the Student Aid Commission and the Department of Financial Protection and Innovation to prominently display a link to a specified financial literacy document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 69516.5 is added to the Education Code, to read:69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 69516.5 is added to the Education Code, to read:69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
SECTION 1. Section 69516.5 is added to the Education Code, to read:
### SECTION 1.
69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.
69516.5. The commission and the Department of Financial Protection and Innovation shall prominently display a link to the Financial Literacy Guidance from Federal Student Aid document created by the Federal Student Aid Information Center on the home page of their respective internet websites.