Existing law creates the State Financial Literacy Advisory Council, composed of members appointed by the Governor, certain Legislators and the Chancellor of the Nevada System of Higher Education. Existing law requires the Council to: (1) develop a strategic plan for the development of educational resources in financial literacy; (2) identify learning activities targeted toward standards and criteria of a curriculum in financial literacy; (3) develop and facilitate certain events related to financial literacy; (4) develop the criteria required for a pupil to earn the State Seal of Financial Literacy; (5) apply for grants, gifts and donations to carry out its objectives; and (6) prepare a written report to provide to certain entities. (NRS 388.5966, 388.5968) Section 1 of this bill changes the composition of the Council by eliminating certain members appointed by the Governor, certain Legislators and the Chancellor of the System and adding a pupil enrolled in high school as a member of the Council. Section 1 also places the Council within the Department of Education and provides that the Superintendent of Public Instruction must appoint the members of the Council. Existing law: (1) designates certain academic subjects, including social studies, which encompasses financial literacy, as core academic subjects that must be taught in all public schools; and (2) requires a pupil enrolled in a public high school to enroll in a minimum of one-half unit of credit in the subject of economics. (NRS 389.018) Section 1.5 of this bill revises the contents of the one-half unit of credit in economics in which a pupil must enroll to also include financial literacy. Existing law: (1) requires that pupils who are enrolled in public schools are provided with instruction in financial literacy; and (2) sets forth the required contents for such instruction, including the skills necessary to manage finances, which includes developing a personal financial plan. (NRS 389.074) Section 2 of this bill provides that the skills necessary to manage finances relating to developing a personal financial plan include understanding and budgeting for the costs of housing, transportation and health care.

Statutes affected:
As Introduced: 389.018, 389.074
Reprint 1: 388.5966, 389.018, 389.074
As Enrolled: 388.5966, 389.018, 389.074
BDR: 389.018, 389.074