Bill Summaries: H433 ECONOMICS &AMP FINANCIAL LITERACY ACT.

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

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

    Amends GS 115C-81.65 by reinstating the provisions in (a) that required instruction in personal financial literacy for all students and that required the State Board of Education to determine components in addition to those in the statute that will be covered in the curriculum. Moves proposed new language into (b). Clarifies that content of the course focused on Economics and Personal Finance (EPF), must, at a minimum, include the standards established by the second edition of the Voluntary National Content Standards in Economics and the 2013 National Standards for Financial Literacy, as developed by the Council for Economic Education. Requires that the State Board of Education, instead of the Department of Public Instruction, require EPF teachers to receive the necessary professional development. Makes other clarifying and conforming changes. 

    Removes the provision allowing any remaining funds from the funds appropriated in the act to the North Carolina Council on Economic Education (NCCEE) at the end of 2022-23 to be used to provide professional development for public school EPF teachers. Requires that NCCEE's report on the use of funds be done in consultation with the Department of Public Instruction rather than the State Board of Education. 

    Deletes the previous changes to GS 115C-81.45 and instead amends the statute as follows. Deletes the current provisions concerning the inclusion of instruction in civic and citizenship education in the standard course of study for high school social studies. Requires that the State Board of Education require instruction in civic and citizenship education in the standard course of study for high school social studies through the teaching of a full credit course that is to be called Founding Principles of the United States of America and North Carolina: Civic Literacy. Requires that the course include the already stated subjects that were to be included in the previously required semester-long course. Adds that the State Board of Education is strongly encouraged to include four specified components in the course; these components are the same as those that were in the deleted provision on inclusion of instruction in civic and citizenship education in the standard course of study for high school social studies. Makes additional conforming and clarifying changes.

    Amends proposed language in GS 115C-218.85, GS 115C-238.66, and GS 116-239.8 to require charter, regional, and laboratory schools to ensure that required professional development for teachers of the EPF course is provided. 

    Requires that the State Board of Education begin the review and revision of the standard course of study for social studies in grades K-12 in the 2019-20 school year and revise the high school standard course of study in accordance with the act. Requires review of the high school standard course of study to determine the grade level during which the EPF course and the Civic Literacy course may be completed. Prohibits requiring more than four full course credits in social studies for high school graduation. 

    Make conforming changes to the act's long title. 


  • Summary date: Mar 21 2019 - More information

    Amends GS 115C-81.65, by directing the State Board of Education (State Board) to require that all students are taught a full course credit focused solely on Economics and Personal Finance (EPF) during the high school years (previously directed personal financial literacy instruction for all students with content not statutorily required to be determined by the State Board). Requires the content of the course to align with specified standards developed by the Council for Economic Education. Requires a passing grade in the course for graduation. Directs the State Board to review the high school course of study to determine grade levels during which the EPF course can be completed and reorganize other courses as appropriate. Requires each EPF course to provide instruction on economic principles and provide personal financial literacy instruction that includes but is not limited to the true cost of credit, choosing and managing a credit card, borrowing money for an automobile or other large purchase, home mortgages, credit scoring and credit reports, planning and paying for postsecondary education, and other relevant financial literacy issues (all but planning and paying for postsecondary education were included in the previous requirements for financial literacy instruction).

    Further amends GS 115C-81.65, directing the Department of Public Instruction (DPI) to require that EPF teachers receive the professional development necessary to ensure that the intent and provisions of the statute, as amended, are carried out. Requires the State Board to require local boards (including innovative school districts and renewal school systems, charter schools, lab schools, and regional schools) to make available to EPF teachers and prospective EPF teachers the EPF professional development course provided by the NC Council on Economic Education (NCCEE), to the extent funds are made available to this purpose. Requires teachers to complete the EPF professional development course prior to teaching the EPF course in public schools when practicable, but allows for teachers to begin teaching the EPF course while awaiting the next possible opportunity to complete a session of the EPF professional development course. Provides for the EPF professional development course to be taken at the NCCEE -approved location most conveniently located to the public school. 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 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 if the teacher attends the course on weekends or during a time outside the teacher's school year. Requires that any funds remaining at the end of the 2022-23 fiscal year of the funds appropriated be used to provide professional development for public school EPF teachers. 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.

    Amends GS 115C-81.45 to direct the State Board to require the teaching of the Founding Principles of the United States and North Carolina during high school, as specified. Removes the requirements that the teaching be a semester course and a passing grade be required for high school graduation. Makes conforming changes. 

    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.

    Applies beginning with the 2020-21 school year. 


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