Florida 2022 Regular Session

Florida House Bill H1115 Compare Versions

Only one version of the bill is available at this time.

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10	10	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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14	14	A bill to be entitled 1
15	15	An act relating to high school graduation requirements 2
16	16	in personal finance; providing a short title; amending 3
17	17	s. 1003.41, F.S.; revising the requirements for the 4
18	18	Next Generation Sunshine State Standards to include 5
19	19	financial literacy; amending s. 1003.4282, F.S.; 6
20	20	revising the required credits for a standard high 7
21	21	school diploma to include one -half credit of 8
22	22	instruction in personal financial literacy and money 9
23	23	management and seven and one -half, rather than eight, 10
24	24	credits in electives; authorizing certain students to 11
25	25	earn one-half credit in personal financial literacy 12
26	26	and money management as an elective; providing 13
27	27	requirements for such instruction; conforming 14
28	28	provisions to changes made by the act; providing an 15
29	29	effective date. 16
30	30	17
31	31	WHEREAS, many young people in this state graduate from high 18
32	32	school without having basic financial literacy or money 19
33	33	management skills, and 20
34	34	WHEREAS, the Legislature finds that, in light of economic 21
35	35	challenges nationwide, sound financial management skills are 22
36	36	vitally important to all Floridians, particularly high school 23
37	37	students, and 24
38	38	WHEREAS, the Legislature also finds that requiring 25
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47	47	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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51	51	educational instruction in financial literacy and money 26
52	52	management as a prerequisite to high school graduation will 27
53	53	better prepare young people in this state for adulthood by 28
54	54	providing them with the requisite knowledge to achieve financial 29
55	55	stability and independenc e, and 30
56	56	WHEREAS, Florida is one of 17 states in the nation to 31
57	57	require financial literacy instruction as a prerequisite for 32
58	58	high school graduation and a standard high school diploma, and 33
59	59	the adoption of this act will make it the sixth state in the 34
60	60	nation to require a stand-alone course in personal financial 35
61	61	literacy as a prerequisite for high school graduation and a 36
62	62	standard high school diploma, NOW, THEREFORE, 37
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64	64	Be It Enacted by the Legislature of the State of Florida: 39
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66	66	Section 1. This act may be cited as the "Dorothy L. Hukill 41
67	67	Financial Literacy Act." 42
68	68	Section 2. Paragraph (d) of subsection (2) of section 43
69	69	1003.41, Florida Statutes, is amended, and paragraph (f) is 44
70	70	added to that subsection, to read: 45
71	71	1003.41 Next Generation Sunshine State Standards. — 46
72	72	(2) Next Generation Sunshine State Standards must meet the 47
73	73	following requirements: 48
74	74	(d) Social Studies standards must establish specific 49
75	75	curricular content for, at a minimum, geography, United States 50
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84	84	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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88	88	and world history, government, civics, humanities, and 51
89	89	economics, and financial literacy . 52
90	90	(f) Effective for students entering grade 9 in the 2022 -53
91	91	2023 school year and thereafter, financial literacy standards 54
92	92	must establish specific curricular content for, at a minimum, 55
93	93	personal financial literacy and mon ey management. Financial 56
94	94	literacy includes instruction in the areas specified in s. 57
95	95	1003.4282(3)(h). 58
96	96	Section 3. Paragraph (g) of subsection (3) and paragraph 59
97	97	(a) of subsection (10) of section 1003.4282, Florida Statutes, 60
98	98	are amended, and paragraph (h) is added to subsection (3), to 61
99	99	read: 62
100	100	1003.4282 Requirements for a standard high school 63
101	101	diploma.— 64
102	102	(3) STANDARD HIGH SCHOOL DIPLOMA; COURSE AND ASSESSMENT 65
103	103	REQUIREMENTS.— 66
104	104	(g) Eight Credits in electives. —School districts must 67
105	105	develop and offer coordinated electives so that a student may 68
106	106	develop knowledge and skills in his or her area of interest, 69
107	107	such as electives with a STEM or liberal arts focus. Such 70
108	108	electives must include opportunities for students to earn 71
109	109	college credit, including industry-certified career education 72
110	110	programs or series of career -themed courses that result in 73
111	111	industry certification or articulate into the award of college 74
112	112	credit, or career education courses for which there is a 75
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121	121	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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125	125	statewide or local articulation agreement and which lead to 76
126	126	college credit. A student entering grade 9 before the 2022 -2023 77
127	127	school year must earn eight credits in electives. A student 78
128	128	entering grade 9 in the 2022 -2023 school year or thereafter must 79
129	129	earn seven and one-half credits in elec tives. 80
130	130	(h) One-half credit in personal financial literacy and 81
131	131	money management.—Beginning with students entering grade 9 in 82
132	132	the 2022-2023 school year, each student must earn one -half 83
133	133	credit in personal financial literacy and money management. 84
134	134	Students who entered grade 9 before the 2022 -2023 school year 85
135	135	may earn one-half credit in personal financial literacy and 86
136	136	money management as an elective. This course must include 87
137	137	discussion of or instruction in the following: 88
138	138	1. Types of bank accounts offered, ope ning and managing a 89
139	139	bank account, and assessing the quality of a depository 90
140	140	institution's services. 91
141	141	2. Balancing a checkbook. 92
142	142	3. Basic principles of money management, such as spending, 93
143	143	credit, credit scores, and managing debt, including retail and 94
144	144	credit card debt. 95
145	145	4. Completing a loan application. 96
146	146	5. Receiving an inheritance and related implications. 97
147	147	6. Basic principles of personal insurance policies. 98
148	148	7. Computing federal income taxes. 99
149	149	8. Local tax assessments. 100
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158	158	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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162	162	9. Computing interest rates b y various mechanisms. 101
163	163	10. Simple contracts. 102
164	164	11. Contesting an incorrect billing statement. 103
165	165	12. Types of savings and investments. 104
166	166	13. State and federal laws concerning finance. Beginning 105
167	167	with the 2019-2020 school year, all school districts must offe r 106
168	168	a financial literacy course consisting of at least one -half 107
169	169	credit as an elective. 108
170	170	(10) CAREER AND TECHNICAL EDUCATION GRADUATION PATHWAY 109
171	171	OPTION.—Beginning with the 2019 -2020 school year, a student is 110
172	172	eligible to complete an alternative pathway to ear ning a 111
173	173	standard high school diploma through the Career and Technical 112
174	174	Education (CTE) pathway option. Receipt of a standard high 113
175	175	school diploma awarded through the CTE pathway option requires 114
176	176	the student's successful completion of at least 18 credits. A 115
177	177	student completing the CTE pathway option must earn at least a 116
178	178	cumulative grade point average (GPA) of 2.0 on a 4.0 scale. 117
179	179	(a) In order for a student to satisfy the requirements of 118
180	180	the CTE pathway option, he or she must meet the GPA requirement 119
181	181	and: 120
182	182	1. Meet the requirements in paragraphs (3)(a) through (d); 121
183	183	2. Complete two credits in career and technical education. 122
184	184	The courses must result in a program completion and an industry 123
185	185	certification; and 124
186	186	3. Complete two credits in work -based learning programs. A 125
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199	199	student may substitute up to two credits of electives , including 126
200	200	one-half credit in financial literacy, for work-based learning 127
201	201	program courses to fulfill this requirement. 128
202	202	Section 4. This act shall take effect July 1, 2022. 129