The bill requires public high school students in Alabama to complete a course in personal financial literacy and money management before graduating. The course must cover topics such as types of bank accounts, balancing a checking account, money management principles, evaluating loans, personal insurance policies, taxation, interest rates, contracts, and savings and investments. The State Department of Education will identify approved financial literacy courses and create an examination based on the course standards. The examination will be administered to students upon completion of the course, and a summary of examination results will be reported annually to the State Department of Education. The bill will become effective on the first day of the third month following its passage and approval by the Governor or its otherwise becoming law.

Statutes affected:
Introduced: 16-35-4
Enrolled: 16-35-4