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AB-1161 Pupil instruction: history-social science curriculum framework: financial literacy: estate planning and trusts.(2023-2024)



Current Version: 02/16/23 - Introduced

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AB1161:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill
No. 1161

Introduced by Assembly Member Hoover

February 16, 2023

An act to amend Section 51284.5 of the Education Code, relating to pupil instruction.


LEGISLATIVE COUNSEL'S DIGEST


AB 1161, as introduced, Hoover. Pupil instruction: history-social science curriculum framework: financial literacy: estate planning and trusts.
Existing law requires the adopted course of study for grades 1 to 6, inclusive, and for grades 7 to 12, inclusive, to offer courses in specified areas of study, including social sciences. Existing law establishes the Instructional Quality Commission and requires the commission to, among other things, recommend curriculum frameworks to the State Board of Education. Existing law requires the state board, concurrently with, but not before, the next revision of textbooks or curriculum frameworks in the social sciences, health, and mathematics curricula, to ensure that these academic areas integrate components of, among other things, financial literacy. Notwithstanding that requirement on the state board, existing law requires the commission, when the history-social science curriculum framework is revised after January 1, 2017, to consider including age-appropriate information for kindergarten and grades 1 to 12, inclusive, regarding certain topics on financial literacy.
This bill would require the commission, when the history-social science curriculum framework is revised after January 1, 2017, to also consider including age-appropriate information and content for kindergarten and grades 1 to 12, inclusive, on the importance of estate planning and the use of trusts.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 51284.5 of the Education Code is amended to read:

51284.5.
 Notwithstanding Section 51284, when the history-social science curriculum framework is revised after January 1, 2017, the Instructional Quality Commission shall consider including both of the following:
(a) Age-appropriate information for grade spans, as listed in paragraphs (1) to (3), inclusive, of subdivision (b), on financial literacy that includes, but is not limited to, all of the following:
(1) Fundamentals of banking for personal use, including, but not limited to, savings and checking.
(2) Principles of budgeting and personal finance.
(3) Employment and understanding factors that affect net income.
(4) Uses and effects of credit, including the relation of debt and interest to credit.
(5) Uses and costs of loans, including student loans.
(6) Types and costs of insurance.
(7) Forms of governmental taxation.
(8) Principles of investing and building wealth.
(9) Identity theft and security.
(10) Planning and paying for postsecondary education.
(11) Charitable giving.
(12) The importance of estate planning and the use of trusts.
(b) Age-appropriate content related to the topics listed in paragraphs (1) to (11), (12), inclusive, of subdivision (a), at least twice in each of the following grade spans:
(1) Kindergarten and grades 1 to 5, inclusive.
(2) Grades 6 to 8, inclusive.
(3) Grades 9 to 12, inclusive.