ECS
From the ECS State Policy Database
2005 State Policies / Activities

Education Commission of the States • 700 Broadway, Suite 810 • Denver, CO 80203-3442 • 303.299.3600 • fax 303.296.8332 • www.ecs.org

The following summary includes policies enacted in 2005. This database is made possible by your state's fiscal support of the Education Commission of the States (ECS). Most entries are legislative, although rules/regulations and executive orders that make substantive changes are included. Every effort is made to collect the latest available version of policies; in some instances, recent changes might not be reflected. For expediency purposes minimal attention has been paid to style (capitalization, punctuation) and format. To view the documents, click on the blue triangle next to the topic of interest. To view all, press the button located at the top labeled "Expand All."

Please cite use of the database as: Education Commission of the States (ECS) State Policy Database, retrieved [date].

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LASigned into law 06/2005P-12Requires the inclusion of the topic of adoption awareness in middle or high school courses that include material related to family life, including Family Life and Consumer Science Education courses. Defines adoption awareness.
http://www.legis.state.la.us/billdata/streamdocument.asp?did=317551
Title: H.B. 777
Source: www.legis.state.la.us

TXSigned into law 06/2005P-12Contingent on funding, requires state board to establish and implement a financial literacy pilot program to provide students in participating school districts with the knowledge and skills necessary as self-supporting adults to make critical decisions relating to personal financial matters. Requires the agency shall collaborate with the Office of Consumer Credit Commissioner and the State Securities Board to develop the curriculum and instructional materials for the program. The curriculum and instructional materials must include information about: (1) avoiding and eliminating credit card debt; (2) understanding the rights and responsibilities of renting or buying a home; (3) managing money to make the transition from renting a home to home ownership; (4) starting a small business; (5) being a prudent investor in the stock market and using other investment options; (6) beginning a savings program; (7) bankruptcy; (8) the types of bank accounts available to consumers
and the benefits of maintaining a bank account; (9) balancing a check book; and (10) the types of loans available to consumers and becoming a low-risk borrower.
http://www.capitol.state.tx.us/tlo/79R/billtext/SB00851F.HTM
Title: S.B. 851
Source: http://www.capitol.state.tx.us

TXSigned into law 05/2005P-12Amends Sec. 28.0021. Requires instruction in personal financial literacy in one or more courses required for high school graduation. Requires districts and open-enrollment charter schools to incorporate instruction in personal financial literacy into any course meeting a requirement for an economics credit, using materials approved by the board. Requires districts and open-enrollment charter schools to comply beginning with the 2006-2007 school year. Requires the board to adopt essential knowledge and skills for a course not later than the 2008-2009 school year. http://www.capitol.state.tx.us/cgi-bin/tlo/textframe.cmd?LEG=79&SESS=R&CHAMBER=H&BILLTYPE=B&BILLSUFFIX=00492&VERSION=5&TYPE=B
Title: H.B. 492
Source: http://www.capitol.state.tx.us

SCSigned into law 04/2005P-12Enacts the Financial Literacy Instruction Act; provides a curriculum for local school boards to teach financial literacy; provides for a fund to receive public and private contributions for financial literacy instruction. http://www.scstatehouse.net/sess116_2005-2006/bills/3020.htm
Title: H.B. 3020
Source: http://www.scstatehouse.net

WVSigned into law 04/2005P-12Adds new section: §18-2-7c, to read as follows:(a) The Legislature finds and declares that persons with an understanding of personal finance are better prepared to manage their money and that providing a personal finance program in secondary schools in West Virginia will prepare students to handle their finances. (b) To provide students a basic understanding of personal finance, the State Board shall develop a program of instruction on personal finance which may be integrated into the curriculum of an appropriate existing course or courses for students in secondary schools. Prescribing personal finance instruction in secondary schools by the State Board of Education. http://www.legis.state.wv.us/Bill_Text_HTML/2005_SESSIONS/RS/BILLS/hb2837%20enr.htm
Title: H.B. 2837
Source: http://www.legis.state.wv.us

VASigned into law 03/2005P-12Creates the Entrepreneurship Education Program, consisting of grants administered by the state board to public secondary schools to support innovative educational programs designed to assist students in the development of their entrepreneurial, academic, and life skills. The programs are requried to, among other things, (i) incorporate experiential learning; (ii) include partnerships with business and higher education; and (iii) assist students in practicing and mastering business concepts, such as negotiation, pricing, and the development and implementation of plans for individual student businesses.  This act will expire on July 1, 2007, if no gifts, donations, bequests, or other funds effectuating its purposes are received by that date.  http://leg1.state.va.us/cgi-bin/legp504.exe?051+ful+CHAP0033
Title: S.B. 969
Source: http://leg1.state.va.us

WIIssued 03/2005P-12
Postsec.
Community College
Creates the governor's council on financial literacy. The council's mission is to measurably improve the financial literacy of Wisconsin citizens. In addition to other tasks, the council will serve as a sounding board for the governor's office and the office of financial literacy and is to provide a semi-annual report on its progress, beginning on December 31, 2005.
http://www.wisgov.state.wi.us/journal_media_detail.asp?prid=1026
Title: Executive Order # 92
Source: http://www.wisgov.state.wi.us/

OKEmergency Rule Adoption 02/2005Postsec.Establishes emergency rules to address the state's deficit in financial instruction and to combat the considerable cost of fiscal illiteracy, by developing a financial literacy initiative, Oklahoma Money Matters (OKMM) under the state student loan program. OKLAHOMA REG 13725 (SN)
Title: OAC 610:25-35-1 thru -7
Source: StateNet

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