GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2003

S                                                                                                                                                     1

SENATE BILL 444

Short Title:     Teach Personal Financial Literacy in Schools.		(Public)
Sponsors:	Senators Hagan;  Albertson, Apodaca, Bingham, Carpenter, Dorsett, Garrou, Gulley, Hargett, Holloman, Lucas, Metcalf, Sloan, Stevens, Swindell, Thomas, and Weinstein.
Referred to:	Education/Higher Education.

March 17, 2003

A BILL TO BE ENTITLED

AN ACT TO AUTHORIZE PILOT PROGRAMS ON TEACHING PERSONAL FINANCIAL LITERACY IN THE PUBLIC SCHOOLS.

The General Assembly of North Carolina enacts:

SECTION 1.  The State Board of Education shall establish a pilot program authorizing and assisting up to five local school administrative units in the implementation of programs on teaching personal financial literacy.  The purpose of the pilot program is to determine the best methods of equipping students with the knowledge and skills they need, before they become self‑supporting, to make critical decisions regarding their personal finances.  The components of personal financial literacy covered in the pilot program shall include, at a minimum, consumer financial education, personal finance, and personal credit.

Prior to selecting the pilot units, the State Board of Education shall develop a curriculum, materials, and guidelines for local boards of education to use in implementing a program of instruction on personal financial literacy. The State Board shall also provide information to local boards of education on securing public and private grant funds and on using other public and private assets to implement the instructional program.

The State Board of Education shall report to the Joint Legislative Education Oversight Committee prior to January 1, 2004, on the implementation of the program in the pilot units.

SECTION 2.  This act is effective when it becomes law.