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SB 170 FINANCIAL LITERACY SCHOOL CREDIT

Current Location: SEC
Referrals: SEC/SHPAC

[3] SEC/SHPAC-SEC

SB 170 PDF  |  SB 170 FIR


Scheduled on - Date:  Time:   Location:

1/31/2021 [3] - Sent to location Senate Education (SEC)
Synopsis:

 Senate Bill 170 (SB 170) amends Public Education graduation requirements to require one-half unit of financial literacy prior to graduation.

Analysis:

 Senate Bill 170 (SB 170) amends Public Education graduation requirements to require one-half unit of financial literacy prior to graduation.

SECTION 1. Amends Section 22-13-1.1 NMSA 1978 (being Laws 1986, Chapter 33, Section 5, as amended) GRADUATION REQUIREMENTS to include financial management in graduation requirements.

Subsection J inserts in (2)(b):
for students who enter the ninth grade in the 2022-2023 school year and subsequent school years, four and one-half units of mathematics, of which one shall be the equivalent to or higher than the level of algebra 2, unless the parent has submitted written, signed permission for the student to complete a lesser mathematics unit, and one-half unit of financial literacy; provided that a department-approved work-based training or career and technical education course that meets state mathematics academic content and performance standards shall qualify as one of the four and one-half required mathematics units. The required financial literacy course shall meet mathematics academic content and performance standards and shall include a basic understanding of budgets, checking and savings accounts, credit, interest and the costs of borrowing;

Subsection J inserts in (2)(7) the following:
For students entering the ninth grade in the 2022-2023 school year and subsequent school years, elective units shall total seven.

Amendments:

Current Law:Senate Bill 170 (SB 170) amends Public Education Section 22-13-1.1 NMSA 1978 (being Laws 1986, Chapter 33, Section 5, as amended).

Bill Comments:
Position: Support   Priority: Moderate
ICBA/NM supports efforts to include financial literacy as mandatory curriculum for graduation purposes.  In today's ever changing financial services world, student need to have a firm grasp on how their knowledge and actions involving financial planning, transactions, and technology can impact their personal and professional life.