HB 1375

Abstract

Amends the Courses of Study Article of the School Code. Instead of requiring consumer education to be taught and studied, provides that beginning with pupils entering the 9th grade in the 2024-2025 school year, pupils in the public schools in grade 11 or 12 shall be taught and be required to complete a stand-alone, one-semester or equivalent course covering personal finance, which shall include, but is not limited to, instruction covering behavioral economics; banking and bill payment; investing; types of credit; managing credit; including credit scores; paying for college; insurance; taxes; budgeting; consumer skills; retirement planning, including tax-advantaged retirement plans; home ownership and financing; and personal transportation, including car ownership and leasing. Provides that the State Board of Education shall devise or approve the personal finance education standards for the course. Provides that the school board shall oversee implementation of the personal finance course for each high school student prior to graduation. Specifies the oversight duties of the school board. In provisions regarding required high school courses, provides that the personal finance education course may be counted toward the fulfillment of other graduation requirements. Makes other changes. House Floor Amendment No. 2 Provides that the personal finance course requirement begins with pupils entering the 9th grade in the 2027-2028 (rather than 2024-2025) school year. Provides that the State Board of Education (instead of the school board) shall develop implementation guidelines and timelines to assist schools in implementing the personal finance course and determine what may be counted as a graduation requirement for this course. Senate Committee Amendment No. 1 Deletes reference to: 105 ILCS 5/27-22 from Ch. 122, par. 27-22 Replaces everything after the enacting clause. Amends the School Code. Provides that pupils in the public schools in grades 9 through 12 shall be taught and be required to study courses which include instruction in the area of financial literacy and consumer education in alignment with the Illinois Social Science Learning Standards for Economics and Financial Literacy or other relevant career and technical education learning standards, as appropriate (rather than courses which include instruction in the area of consumer education). Sets forth specified requirements for the instruction. Provides that the State Board of Education shall determine, subject to appropriation, how to prepare and make available instructional resources and professional learning opportunities for educators that may be used for the purpose of meeting the requirements (rather than devise or approve the consumer education curriculum for grades 9 through 12 and specify the minimum amount of instruction).