Req. No. 8523 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
2nd Session of the 59th Le gislature (2024)
HOUSE BILL 4134 By: Swope
AS INTRODUCED
An Act relating to schools; amending 70 O.S. 2021,
Section 11-103.6h, which relates to the Passport to
Financial Literacy Act ; including instruction on the
impact and consequences of multi-level marketing
businesses and pyramid schemes; providing an
effective date; and declaring an emergency .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 70 O.S. 2021 , Section 11-103.6h,
is amended to read as follows:
Section 11-103.6h A. Personal financial literacy education
shall be taught in the public schools of this state. Per sonal
financial literacy education shall include, but is not limited to,
the following areas of instruction:
1. Understanding interest, credit card debt, and online
commerce;
2. Rights and responsibilities of renting or buying a home;
3. Savings and investing;
4. Planning for retirement;
5. Bankruptcy;
Req. No. 8523 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
6. Banking and financial service s;
7. Managing a bank account;
8. Understanding the Free Application for Federal Student Aid
(FAFSA), loans, and borrowing money, including the financial impact
and consequences of predatory lending and payday loans;
9. Understanding insurance;
10. Identity fraud and theft;
11. Charitable giving;
12. Understanding the financial impact and consequences of
gambling;
13. Earning an income; and
14. Understanding the financial impact and consequences of
multi-level marketing (MLM) businesses and pyr amid schemes; and
15. Understanding state and federal taxes.
B. In order to graduat e from a public high school accredited by
the State Board of Education with a standard diploma, students shall
fulfill the requirements for a pers onal financial literacy passpor t.
The requirements for a personal financial literacy passport shall be
satisfactory completion in all areas of instruction in personal
financial literacy as listed in subsection A of this section during
grades seven through twelve or demonstration of sat isfactory
knowledge as provided for in subsection E of this section.
C. School districts shall provide instruction in personal
financial literacy to students during grades seven through twelve.
Req. No. 8523 Page 3 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
School districts shall have t he option of determining when e ach area
of instruction listed in subsection A of this section shall be
presented to students.
D. Personal financial literacy instruction shall be integrated
into one or more existing courses of study or provided in a separa te
personal financial literacy course. School districts shall have the
option of determining into which cours e or courses each area of
instruction listed in subsection A of this section shall be
integrated.
E. Students with the most significant cognitive disabilities
(MSCD) who have an Individualized Education Program (IEP) that
directs that the student is to be assessed with alternate
achievements standards through the Oklahoma Alternative Assessment
Program may demonstrate satisfactory knowledge in each area of
instruction listed in subsection A of this section upon a
determination, supported by documentation, by the school district
that the student has met the following criteria:
1. Receives substantive and substantial instruction in life -
skills curriculum; and
2. Demonstrates the acquired knowledge of the student with MSCD
by alternate measures as required b y the IEP.
F. The State Board of Education shall identify and adopt
curriculum standards for personal financial literacy instruction
that reflect the areas of instruction liste d in subsection A of this
Req. No. 8523 Page 4 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
section. The standards shall be incorporated into th e state
academic content standards adopted by the Board pursuant to Section
11-103.6 of this title.
G. The State Department of Education shall:
1. Develop guidelines and mater ial designed to enable schools
to infuse personal financial literacy within any course of study
currently offered by the school district or offer personal financial
literacy as a separate course. The guidelines shall outline the
areas of instruction to be taught based on the curriculum standards
adopted by the Board;
2. Develop professional development programs that are designed
to help teachers provide instruction in personal financial literacy
and incorporate the curriculu m into an existing course or co urses or
develop curriculum for a separate personal financial literacy
course;
3. Provide and identify resources, including online curricula,
for integrating the teaching of personal financial literacy into an
existing course or courses of study or for de veloping a separate
personal financial literacy course. Any online curricula p rovided
or identified by the Department shall include an assessment
component for each area of instruction listed in subsection A of
this section;
4. Provide and identify resou rces, including online curricula,
and materials designed to enable students id entified as English
Req. No. 8523 Page 5 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
language learners to understand and use the personal financial
literacy information presented; and
5. Utilize funds deposited into the Personal Financial Lit eracy
Education Revolving Fund created in Section 3 11-103.6h-1 of this
act title for the purpose of and to fund the Passport to Financial
Literacy Act. Such funds may be used for developing and providing
guidelines, materials and resources for personal f inancial literacy
for students and teachers including, but not limited to, online
curricula, training and professional development for teachers in the
area of personal financial literacy as required in this subsection.
The Department may use such funds to contract or work in conjunction
with a third-party, Oklahoma-based not-for-profit organization that
has proven expertise in the development of standards and curricula.
The Department may further use a third -party organization to deliver
professional development for teachers in the area of personal
financial literacy.
H. The Department may wo rk with one or more not-for-profit
organizations that have proven expertise in the development of
standards and curriculum and delivery of teacher professional
development in personal financial literacy for the purpose of
developing and providing guideline s, materials, resources, including
online curricula, and professional development.
I. 1. For students who transfer into an Oklahoma s chool
district from out of stat e after the seventh grade, school districts
Req. No. 8523 Page 6 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
shall assess the knowledge of the student in e ach of the areas of
instruction listed in subsection A of this section. If the school
district determines that the transferred student has successfully
completed instruction in any or all of the areas of personal
financial literacy instruction at a previo us school in which the
student was enrolled or if the student demonstrates satisfactory
knowledge of any or all of the areas of persona l financial literacy
instruction through an assessment, the school district may exempt
the student from completing instru ction in that area of personal
financial literary instruction. School districts may use the
assessment contained in the online curricu la provided or identified
by the State Department of Education pursuant to subsection G of
this section to determine the personal financial literacy knowledge
level of the student. School districts may also use the online
curricula to present an area of i nstruction to transferred stude nts
who have not completed or who did not demonstrate satisfactory
knowledge in one or mor e of the areas of personal financial literacy
instruction.
2. For students who transfer into an Oklahoma school district
from out of state after the junior year of h igh school, school
districts may make an exception to the requirements for a personal
financial literacy passport pursuant to the provisions of Section
11-103.6 of this title.
Req. No. 8523 Page 7 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
J. The State Textbook Committee created in Secti on 16-101 of
this title may, when selecting textbooks for mathematics, economics,
or similar courses, select those textbo oks which contain substantive
provisions on personal finance.
K. In order to deliver high -quality consistent personal
financial literacy instruction, school district s shall to the extent
possible assign the responsibility for teaching personal financial
literacy to the same teacher or teachers on a continuing basis.
L. Beginning with the 2020 -2021 school year, all teachers who
are assigned the responsibility for teac hing personal financial
literacy shall complete ongoing professional development training in
the areas of personal financial literacy instruction in accordance
with guidelines established by the State Department of Education.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediate ly necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof th is act shall take effect and
be in full force from and after its passage and approval.
59-2-8523 EK 12/29/23