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SENATE DOCKET, NO. 1452 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 328
The Commonwealth of Massachusetts
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PRESENTED BY:
Patrick M. O'Connor
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to student financial literacy.
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PETITION OF:
NAME:DISTRICT/ADDRESS :Patrick M. O'ConnorFirst Plymouth and NorfolkRyan C. FattmanWorcester and Hampden2/27/2023 1 of 2
SENATE DOCKET, NO. 1452 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 328
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 328) of Patrick M. O'Connor and
Ryan C. Fattman for legislation relative to student financial literacy. Education.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 380 OF 2021-2022.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act relative to student financial literacy.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Section 1Q of Chapter 69 of the General Laws, as so appearing, is hereby
2amended by striking paragraph (b) and replacing it with the following:-
3 (b) A school district, charter school, approved private day or residential school or
4collaborative school shall incorporate the financial literacy standards established pursuant to
5section 1D and subsection (a) into existing curriculum including, but not limited to, mathematics,
6history and social sciences, technology or business.
7 SECTION 2. Chapter 71 of the General Laws is hereby amended by adding the following
8new section:-
9 Section 98. (a) In all public schools, financial literacy shall be taught as required subjects
10to promote an understanding of personal finances and financial stability. Instruction shall include 2 of 2
11(i) loans; (ii) interest and interest accrual; (iii) credit card debt; (iv) online commerce; (v) rights
12and responsibilities of renting or buying a home; (vi) saving, investing and planning for
13retirement; (vii) the role of banking and financial services; (viii) balancing a checkbook; (ix)
14state and federal taxes; (x) charitable giving; (xi) evaluating media content, including online
15content, that relates to personal finance matters; and (xii) saving, investing and planning for
16higher education or professional training.
17 SECTION 3. The department may apply for federal, state or other funding, including
18funding available through the Economic Empowerment Trust Fund established pursuant to
19section 35QQ of chapter 10 to implement the provisions of this section.