HB 1115 2022
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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
A bill to be entitled 1
An act relating to high school graduation requirements 2
in personal finance; providing a short title; amending 3
s. 1003.41, F.S.; revising the requirements for the 4
Next Generation Sunshine State Standards to include 5
financial literacy; amending s. 1003.4282, F.S.; 6
revising the required credits for a standard high 7
school diploma to include one -half credit of 8
instruction in personal financial literacy and money 9
management and seven and one -half, rather than eight, 10
credits in electives; authorizing certain students to 11
earn one-half credit in personal financial literacy 12
and money management as an elective; providing 13
requirements for such instruction; conforming 14
provisions to changes made by the act; providing an 15
effective date. 16
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WHEREAS, many young people in this state graduate from high 18
school without having basic financial literacy or money 19
management skills, and 20
WHEREAS, the Legislature finds that, in light of economic 21
challenges nationwide, sound financial management skills are 22
vitally important to all Floridians, particularly high school 23
students, and 24
WHEREAS, the Legislature also finds that requiring 25
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educational instruction in financial literacy and money 26
management as a prerequisite to high school graduation will 27
better prepare young people in this state for adulthood by 28
providing them with the requisite knowledge to achieve financial 29
stability and independenc e, and 30
WHEREAS, Florida is one of 17 states in the nation to 31
require financial literacy instruction as a prerequisite for 32
high school graduation and a standard high school diploma, and 33
the adoption of this act will make it the sixth state in the 34
nation to require a stand-alone course in personal financial 35
literacy as a prerequisite for high school graduation and a 36
standard high school diploma, NOW, THEREFORE, 37
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Be It Enacted by the Legislature of the State of Florida: 39
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Section 1. This act may be cited as the "Dorothy L. Hukill 41
Financial Literacy Act." 42
Section 2. Paragraph (d) of subsection (2) of section 43
1003.41, Florida Statutes, is amended, and paragraph (f) is 44
added to that subsection, to read: 45
1003.41 Next Generation Sunshine State Standards. — 46
(2) Next Generation Sunshine State Standards must meet the 47
following requirements: 48
(d) Social Studies standards must establish specific 49
curricular content for, at a minimum, geography, United States 50
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and world history, government, civics, humanities, and 51
economics, and financial literacy . 52
(f) Effective for students entering grade 9 in the 2022 -53
2023 school year and thereafter, financial literacy standards 54
must establish specific curricular content for, at a minimum, 55
personal financial literacy and mon ey management. Financial 56
literacy includes instruction in the areas specified in s. 57
1003.4282(3)(h). 58
Section 3. Paragraph (g) of subsection (3) and paragraph 59
(a) of subsection (10) of section 1003.4282, Florida Statutes, 60
are amended, and paragraph (h) is added to subsection (3), to 61
read: 62
1003.4282 Requirements for a standard high school 63
diploma.— 64
(3) STANDARD HIGH SCHOOL DIPLOMA; COURSE AND ASSESSMENT 65
REQUIREMENTS.— 66
(g) Eight Credits in electives. —School districts must 67
develop and offer coordinated electives so that a student may 68
develop knowledge and skills in his or her area of interest, 69
such as electives with a STEM or liberal arts focus. Such 70
electives must include opportunities for students to earn 71
college credit, including industry-certified career education 72
programs or series of career -themed courses that result in 73
industry certification or articulate into the award of college 74
credit, or career education courses for which there is a 75
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statewide or local articulation agreement and which lead to 76
college credit. A student entering grade 9 before the 2022 -2023 77
school year must earn eight credits in electives. A student 78
entering grade 9 in the 2022 -2023 school year or thereafter must 79
earn seven and one-half credits in elec tives. 80
(h) One-half credit in personal financial literacy and 81
money management.—Beginning with students entering grade 9 in 82
the 2022-2023 school year, each student must earn one -half 83
credit in personal financial literacy and money management. 84
Students who entered grade 9 before the 2022 -2023 school year 85
may earn one-half credit in personal financial literacy and 86
money management as an elective. This course must include 87
discussion of or instruction in the following: 88
1. Types of bank accounts offered, ope ning and managing a 89
bank account, and assessing the quality of a depository 90
institution's services. 91
2. Balancing a checkbook. 92
3. Basic principles of money management, such as spending, 93
credit, credit scores, and managing debt, including retail and 94
credit card debt. 95
4. Completing a loan application. 96
5. Receiving an inheritance and related implications. 97
6. Basic principles of personal insurance policies. 98
7. Computing federal income taxes. 99
8. Local tax assessments. 100
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9. Computing interest rates b y various mechanisms. 101
10. Simple contracts. 102
11. Contesting an incorrect billing statement. 103
12. Types of savings and investments. 104
13. State and federal laws concerning finance. Beginning 105
with the 2019-2020 school year, all school districts must offe r 106
a financial literacy course consisting of at least one -half 107
credit as an elective. 108
(10) CAREER AND TECHNICAL EDUCATION GRADUATION PATHWAY 109
OPTION.—Beginning with the 2019 -2020 school year, a student is 110
eligible to complete an alternative pathway to ear ning a 111
standard high school diploma through the Career and Technical 112
Education (CTE) pathway option. Receipt of a standard high 113
school diploma awarded through the CTE pathway option requires 114
the student's successful completion of at least 18 credits. A 115
student completing the CTE pathway option must earn at least a 116
cumulative grade point average (GPA) of 2.0 on a 4.0 scale. 117
(a) In order for a student to satisfy the requirements of 118
the CTE pathway option, he or she must meet the GPA requirement 119
and: 120
1. Meet the requirements in paragraphs (3)(a) through (d); 121
2. Complete two credits in career and technical education. 122
The courses must result in a program completion and an industry 123
certification; and 124
3. Complete two credits in work -based learning programs. A 125
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student may substitute up to two credits of electives , including 126
one-half credit in financial literacy, for work-based learning 127
program courses to fulfill this requirement. 128
Section 4. This act shall take effect July 1, 2022. 129