Today's Law As Amended


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AB-391 Pupil instruction: personal finances.(2013-2014)



As Amends the Law Today


SECTION 1.
 This act shall be known, and may be cited, as the “Common Cents Curriculum Act of 2013.”
SEC. 2.
 The Legislature finds and declares all of the following:
(a) California does not have an official statewide policy or educational plan for the teaching of financial literacy and the growing negative economic effects of financial illiteracy have spurred the need for financial literacy education for all elementary and secondary pupils.
(b) Americans 25 to 34, inclusive, years of age have the second highest rate of bankruptcy, and the highest rate is Americans who are 35 to 44, inclusive, years of age, indicating that young adults today are more likely to file bankruptcy than were “baby boomers” at the same age.
(c) Improving financial literacy in secondary school will empower students, and their families, to act as well-informed consumers.
(d) Financial illiteracy and the consequences for uninformed financial decisions are a growing problem in the state, and in the long run, educating Californians would result in benefits to the economy by helping to prevent bankruptcy, foreclosure, and job loss.
(e) Providing access to financial literacy tools plays an important role in preventing uninformed financial decisions.
(f) Recent research shows that students from states where a financial education course is required are more likely to save, less likely to max out their credit cards, less likely to make late credit card payments, and more likely to take average financial risks.
(g) A college education is more important than ever in determining future earnings, as the annual income of an employee with a bachelor’s degree is about 80 percent higher than that of a person with a high school diploma, which translates into more than one million additional dollars over a lifetime. College graduates are also more involved in community and philanthropic affairs, are healthier, and require fewer state services than those without a degree.
(h) The number of undergraduate students with both credit card debt and student loan debt is increasing. In 2009, the average student credit card balance had risen to $3,000. Additionally, in 2011, undergraduate students had amassed an average of about $27,000 of student loan debt.
(i) Increasing the financial literacy of all economic and ethnic groups is documented to improve attitudes, lead to improved decisionmaking, and provide for a more secure future for individuals and their families who have been educated with regard to these issues.
(j) Many groups are dedicated to increasing the financial literacy of Americans, and a broad range of quality personal finance instructional materials and curricula have been created for this purpose, but California’s pupils are not getting this vital information.
(k) At this crucial economic time, it is imperative that California continue to be a leader by setting a high standard of financial literacy instruction for our pupils.

SEC. 3.

 Section 33540 of the Education Code is amended to read:

33540.
 (a) The state board  State Board of Education  and the department shall request that the commission review and revise, as necessary, the course requirements in the history-social science framework developed by the History-Social Science Curriculum Framework and Criteria Committee of the state board to ensure that minimum standards for courses in American government and civics include sufficient attention to teaching pupils how to interact, in a practical manner, with state and local governmental agencies and representatives to solve problems and to petition for changes in laws and procedures, and that the course requirements in the history-social science framework are also included in all history and social science courses and all grade levels, as appropriate. procedures. 
(b) Whenever When  the history-social science framework is revised as required by law, the commission shall do,  shall,  as appropriate and based on the subject matter of the course, all  do both  of the following:
(1) Receive input from civics learning experts, including civics education program providers, associations of civics educators, and organizations dedicated to research on civics learning, for purposes of integrating civics learning content, concepts, and skills, at all appropriate grade levels, with the standards established by the state board in core curriculum areas, as specified in Section 60605, as that section read on June 30, 2011, and Section 60605.8.
(2) Consider how civics and history instruction, at all appropriate grade levels, includes, in addition to the acquisition of content knowledge, the application of that content to develop the competence and skills needed for civic engagement.
(3) Ensure that voter education information is included in the American government and civics curriculum at the high school level, including, but not limited to, information on the importance of registering to vote in local, state, and federal elections, how to register to vote, both online and by mail, what the requirements are to register to vote, how to request an absentee ballot, how to fill out and return an absentee ballot, what to expect on election day, how to find a polling place, and where and how to access and understand the voter information pamphlet and other materials to become an informed voter.
(4) (1)  Ensure that  the following historical documents are incorporated into in  the framework:
(A) The Declaration of Independence.
(B) The United States Constitution, including the Bill of Rights.
(C) The Federalist Papers.
(D) The Emancipation Proclamation.
(E) The Gettysburg Address.
(F) George Washington’s Farewell Address.
(5) Consider incorporating the following historical documents into the framework:
(A) The Magna Carta.
(B) The Articles of Confederation.
(C) The California Constitution.
(6) (2)  Encourage instruction that promotes an understanding of the governments of California and the United States of America,  Ensure that the framework encourages instruction related to the understanding of personal finances,  including, but not limited to, the development of democracy and the history of the development of the United States Constitution. budgeting, savings, credit and loans, identity theft, and paying for postsecondary education and identify resources and curriculum to assist educators in delivering this instruction. 
(c) It is the intent of the Legislature, for purposes of the history-social science framework that is revised any time after January 1, 2015, that the commission consider whether and how to incorporate the College, Career, and Civic Life (C3) Framework for Social Studies State Standards into that framework.
(d) It is the intent of the Legislature, for purposes of only the history-social science framework that is revised after January 1, 2015, that the requirements imposed pursuant to paragraphs (1) to (3), inclusive, of subdivision (b) may be satisfied under the framework adoption procedures currently being used by the department as of January 1, 2015.
(e) When the history-social science content standards are next revised after January 1, 2015, the state board shall consider incorporating the College, Career, and Civic Life (C3) Framework for Social Studies State Standards into the history-social science content standards.

SEC. 4.

 Section 51833 of the Education Code is amended to read:

51833.
 (a) The Superintendent of Public Instruction shall, with the approval of the State Board of Education, plan and develop a one-semester instructional program entitled consumer economics for use in schools maintaining any of grades 7 to 12, inclusive. When completed, the program shall be made available to all school districts and schools with grades 7 to 12, inclusive.
(b) The instructional program shall include, but not be limited to, the following elements:
(1) Fundamentals of banking for personal use. use, including, but not limited to, budgeting, savings, and checking. 
(2) Elementary contracts.
(3) Consumer guides to purchasing.
(4) Uses and costs of credit.
(5) Uses and costs of loans, including student loans.
(5) (6)  Types and costs of insurance.
(6) (7)  Forms of governmental taxation.
(8) Identity theft and security.
(9) Planning and paying for postsecondary education.
(c) The Superintendent of Public Instruction shall make this curriculum available no later than July 1, 2015.
SEC. 5.
 If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.