The bill establishes the Personal Financial Literacy Education Fund, which will be administered by the commissioner of elementary and secondary education. This non-budgeted fund will receive revenue from appropriations, public and private sources, and interest earned, and it will be used to educate middle and high school students on personal financial literacy. The fund will support the development and distribution of educational materials, professional development for educators, and a competitive grant program for public schools and districts. The commissioner is tasked with prioritizing underserved communities and ensuring that private funding does not compromise the integrity of the educational programming.

Additionally, the bill amends existing laws to include personal financial literacy programs as a required component of education in public schools. It mandates that every school district provide instruction on various financial topics, such as budgeting, saving, and understanding credit. The department of elementary and secondary education will assist schools in accessing curricular materials and professional development opportunities. The implementation of these requirements will begin in the 2026-2027 school year, and the commissioner will be responsible for reporting on the progress and effectiveness of these programs annually.

Statutes affected:
Bill Text: 69-1I