Bill Summaries: S134 ECONOMICS & FINANCIAL LITERACY ACT.

Tracking:
  • Summary date: Apr 3 2019 - More information

    Senate committee substitute makes the following changes to the 1st edition.

    Makes organizational changes to the proposed changes to GS 115C-81.65, and makes the following additional changes. Maintains the current requirement to provide instruction in personal finance literacy for all students and for the State Board of Education (State Board) to determine other components of financial literacy not included in the statute that will be covered in the curriculum (previously deleted). Removes the proposed requirement for the State Board to review the high school standard course of study to determine the appropriate grade levels for completion of the EPF course and reorganize other courses; instead deletes the existing requirement altogether for the State Board to review the high school standard course of study to determine which courses and grade levels personal financial literacy will be integrated. Now directs the State Board to require a full credit course (was, a semester-long course) in high school focused on economics and personal finance (EPF). Requires that the content of the course now include (was, align) with the specified standards. Requires that the EPF course provide instruction on economic principles (was, basic economic principles) and that it provide, at minimum, the already required personal financial literacy instruction components with the addition of planning and paying for postsecondary education (previously, did not specify that the components were a minimum standard). 

    Now requires the State Board (previously required the Department of Public Instruction (DPI)) to require that EPF teachers get the professional development necessary to ensure that the intent and provisions of the statute are carried out. Provides that to the extent funds are made available for this purpose, the State Board must require the employing entity (was, local school administrative units) to make available the EPF professional development course provided by the specified entity. Adds that when practicable, teacher must complete the EPF professional development course prior to teaching the EPF course in public schools, and if necessary, teachers only begin teaching the EPF course in public schools while awaiting the next possible opportunity to complete a session of the EPF professional development course.

    Makes organizational changes and modifies the appropriations provisions, eliminating the required use of the funds by The North Carolina Council on Economic Education to provide for travel reimbursement of teachers required to complete the EPF professional development course. Modifies the provision requiring the funds to be used for a $500 stipend to every teacher upon completion of the Test of Economic Literacy and the Working in Support of Education personal finance test, to instead provide for a $500 stipend upon completion of the Test of Economic Literacy and the Working in Support of Education personal finance test to either the public school teacher if the teacher attends the course on weekends or during a time outside the teacher's school year or to the teacher's public school employer if the teacher attends the course on school days during the teacher's school year. 

    Amends GS 115C-81.45. Makes organizational changes to the current requirement for instruction in civic citizenship education in the standard course of study for high school social studies, integrating the requirement and its encouraged components into the civic literacy requirement for high school students. Now requires instruction in civic citizenship education in the standard course of study for high school social studies through teaching a full credit course called the Founding Principles of the United States of America and North Carolina: Civic Literacy (was, a semester course during the high school years on the founding principles of the United States and North Carolina). Maintains the requirements of a passing score for graduation and for 13 specified subjects to be included in the course. Specifies that the course must be solely focused on civics and citizenship education. Makes technical changes. Applies to students entering the ninth grade in the 2021-22 school year. Makes organizational and clarifying changes regarding the requirement for instruction in civic and citizenship education in the standard course of study for middle school social studies. 

    Amends GS 115C-218.85 (concerning charter schools), GS 115C-238.66 (concerning regional schools), and GS 116-239.8 (concerning laboratory schools) to require the provision of financial literacy instruction as required by the State Board pursuant to GS 115C-81.65, as amended.

    Amends Section 6(d) of SL 2018-42, adding the provisions of GS 115C-81.65 to which renewal school systems are subject.

    Directs the State Board to (1) begin the process for review and revision of the standard course of study for social studies in grade K-12 in the 2019-20 school year and (2) revise the high school standard course of study for the EPF course and the Founding Principles of the United States of America and North Carolina: Civic Literacy course and review the standard course of study to determine the grade level during which the course can be completed. Prohibits the State Board from requiring more than four full course credits in social studies for high school graduation.


  • Summary date: Feb 26 2019 - More information

    Titles the act as the "Economics and Financial Literacy Act."

    Amends GS 115C-81.65 by removing the current requirement to provide instruction in personal finance literacy for all students and replaces it with the requirement that the State Board of Education (State Board) require a semester-long course in high school focused on economics and personal finance (EPF). Requires that the content of the course align with the specified standards and requires a passing grade in order to graduate. Requires that the EPF course provide instruction on basic economic principles and that it provide the already required personal financial literacy instruction components with the addition of planning and paying for postsecondary education. Applies beginning with the 2020-21 school year.

    Amends GS 115C-81.65 by adding that the Department of Public Instruction (DPI) must require that EPF teachers get the professional development necessary to ensure that the intent and provisions of the statute are carried out. Provides that to the extent funds are made available for this purpose, the State Board must require local school administrative units to make available the EPF professional development course provided by the specified entity. Effective July 1, 2019.

    Appropriates $1,063,800 as grant-in-aid for 2019-20 from the General Fund to The North Carolina Council on Economic Education to provide for completion of the required professional development course for EPF teachers.  Sets out three required uses of the fund, including a $500 stipend to each teacher upon completion of the Test of Economic Literacy and the Working in Support of Education personal finance test. Requires an annual report beginning September 1, 2020, and any fiscal year that NCCEE uses State funds, to the specified NCGA committee and division on the activities described by this section and the expenditure of State funds. Effective July 1, 2019.


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