ARIZONA HOUSE OF REPRESENTATIVES

SB 1442: personal finance

PRIME SPONSOR: Senator Yee, LD 20

BILL STATUS: Chaptered

Abstract

Relating to establishing a State Seal of Personal Finance.

Provisions

1. Instructs the SPI to establish a State Seal of Personal Finance Proficiency Program to recognize public school graduates who have attained a high level of proficiency in personal finance. (Sec. 1)

2. Requires the SPI to create a seal to affix on qualifying graduates' diplomas and transcripts and deliver the seal to participating LEAs. (Sec. 1)

3. Permits LEAs to voluntarily participate by notifying the SPI and requires participants to identify qualifying students and award the seal. (Sec. 1)

4. Instructs SBE, in collaboration with any organization with expertise in finance or financial literacy, to adopt minimum program requirements and allows SBE to adopt necessary rules. (Sec. 1)

5. Directs the seal to be awarded to graduates who complete all Social Study requirements with at least a 3.0 GPA and demonstrate proficiency in personal finance. (Sec. 1)

6. Permits SBE to establish a separate personal finance course required for graduation. (Sec. 2)

7. Sunsets the program on July 1, 2028. (Sec. 1)

8. Makes technical changes. (Sec. 2 & 3)

Current Law

To graduate from high school, a student must successfully complete 22 credits, 3 of which are required to be in Social Studies. The required credits consist of one credit in American and Arizona history, one credit in world history and geography, half a credit in American and Arizona government and half a credit in economics (A.A.C. R7-2-302).

The academic standards for Social Studies prescribed by SBE include personal finance. The SBE is not allowed to require a separate personal finance course for graduation (A.R.S. § 15-701.01).

---------- DOCUMENT FOOTER ---------

Fifty-third Legislature                  SB 1442

Second Regular Session                               Version 4: Chaptered

---------- DOCUMENT FOOTER ---------