Nevada 2023 Regular Session

Nevada Senate Bill SCR2 Compare Versions

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1	1
2	2
3	3	- 82nd Session (2023)
4	4	Senate Concurrent Resolution No. 2–Senators Lange, Cannizzaro,
5	5	Spearman, Dondero Loop; Daly, Donate, Flores, D. Harris,
6	6	Neal, Nguyen, Ohrenschall, Pazina and Scheible
7	7
8	8	Joint Sponsor: Assemblyman Nguyen
9	9
10	10	FILE NUMBER..........
11	11	SENATE CONCURRENT RESOLUTION—Declaring April 2023
12	12	as Financial Literacy Month.
13	13	WHEREAS, The Legislature passed Senate Bill No. 314 (2019),
14	14	which helps make financial literacy in the classroom a reality for
15	15	Nevada’s school-age children; and
16	16	WHEREAS, The Nevada Department of Education acknowledges
17	17	that young people need to be equipped with the skills and
18	18	knowledge that allow them to be savvy consumers and competent
19	19	managers of their own finances; and
20	20	WHEREAS, A lack of financial capability has real consequences
21	21	for individuals, including lower savings rates, poor credit and less
22	22	wealth overall; and
23	23	WHEREAS, The Organization for Economic Co-operation and
24	24	Development conducted a survey in 2018 of individuals who are 15
25	25	years of age in the United States and found that 18 percent of
26	26	respondents did not learn fundamental financial skills that are often
27	27	applied in everyday situations, such as building a simple budget,
28	28	comparison shopping and understanding an invoice; and
29	29	WHEREAS, According to an Organization for Economic Co-
30	30	operation and Development study, in 2018, more than one in six
31	31	students in the United States did not reach the baseline level of
32	32	proficiency in financial literacy; and
33	33	WHEREAS, In 2018, an EVERFI survey of over 100,000
34	34	incoming college students found that 92 percent of students felt
35	35	“they needed more education, information and/or support to be able
36	36	to pay off their college loan”; and
37	37	WHEREAS, According to a survey conducted by Experian in
38	38	2019, 49 percent of Generation Z consumers surveyed said that they
39	39	found financial topics to be somewhat interesting or interesting, and
40	40	11 percent even said they loved learning about such topics; and
41	41	WHEREAS, The International Review of Economics Education
42	42	published a paper in 2014 titled “The features and effectiveness of
43	43	the Keys to Financial Success curriculum,” which found that one-
44	44	semester financial literacy programs taught by trained teachers were
45	45	found to increase high school students’ financial knowledge by 61
46	46	– 2 –
47	47
48	48
49	49	- 82nd Session (2023)
50	50	percent and were most effective in improving knowledge in the
51	51	areas that the students were most deficient; and
52	52	WHEREAS, A study from Montana State University found that
53	53	high school financial education leads to better financial aid
54	54	decisions once students reach college, increases subsidized
55	55	borrowing at advantageous federal rates and decreases use of more
56	56	costly forms of borrowing, including credit cards and private loans;
57	57	and
58	58	WHEREAS, Financial literacy rates directly affect the financial
59	59	health of individuals, families, communities and the country; and
60	60	WHEREAS, Resolutions similar to this resolution have been
61	61	introduced and passed with strong bipartisan support to increase
62	62	awareness of the need for financial literacy for Nevada citizens;
63	63	now, therefore, be it
64	64	RESOLVED BY THE SENATE OF THE STATE OF NEVADA, THE
65	65	ASSEMBLY CONCURRING, That the Nevada Legislature hereby
66	66	recognizes and declares the month of April 2023 as Financial
67	67	Literacy Month, in order to raise public awareness about the need
68	68	for increased financial capability; and be it further
69	69	RESOLVED, That the Secretary of the Senate prepare and
70	70	transmit a copy of this resolution to the Nevada Credit Union
71	71	League, the Governor of the State of Nevada, the Superintendent of
72	72	Public Instruction, the Chairs of the Senate Finance and Ways and
73	73	Means Committees, the Legislative Commission and the Director of
74	74	the Nevada Legislative Counsel Bureau; and be it further
75	75	RESOLVED, That this resolution becomes effective upon
76	76	adoption.
77	77
78	78	20 ~~~~~ 23