PRINTER'S NO. 133
No. 111 Session of 2007
INTRODUCED BY STAIRS, ROEBUCK, BEYER, BOYD, CALTAGIRONE, COHEN, DALLY, FAIRCHILD, FRANKEL, GILLESPIE, HENNESSEY, HORNAMAN, JAMES, MACKERETH, MANN, MELIO, R. MILLER, MOYER, PICKETT, RUBLEY, SANTONI, SIPTROTH, SONNEY, STERN, STURLA, WALKO, WHEATLEY, YOUNGBLOOD AND YUDICHAK, JANUARY 30, 2007
REFERRED TO COMMITTEE ON EDUCATION, JANUARY 30, 2007
AN ACT 1 Amending the act of March 10, 1949 (P.L.30, No.14), entitled "An 2 act relating to the public school system, including certain 3 provisions applicable as well to private and parochial 4 schools; amending, revising, consolidating and changing the 5 laws relating thereto," providing for development of economic 6 education and personal financial literacy programs. 7 The General Assembly of the Commonwealth of Pennsylvania 8 hereby enacts as follows: 9 Section 1. The act of March 10, 1949 (P.L.30, No.14), known 10 as the Public School Code of 1949, is amended by adding a 11 section to read: 12 Section 1551. Economic Education and Personal Financial 13 Literacy Programs.--(a) The General Assembly declares it is the 14 purpose of this section to require the department to gather and 15 disseminate materials for school entities or private, nonpublic, 16 elementary or secondary schools in this Commonwealth related to 17 teaching economics standards as identified in the Pennsylvania 18 Academic Standards for Economics and Personal Financial
1 Literacy. The materials shall incorporate concepts of economics 2 and personal financial literacy into the K-12 school curricula 3 and shall be designed to educate the general student population 4 who need to understand our economic system and the role the 5 individual citizen, consumer and saver plays within that system. 6 In gathering materials for use in schools, the department shall 7 consider materials currently developed by Statewide economic 8 education organizations. 9 (b) The department shall have the power and its duty shall 10 be to: 11 (1) Provide resource information on economics, economic 12 education and personal financial literacy to educators and 13 public and private schools and organizations. 14 (2) Provide for the distribution, upon request, to school 15 entities or private, nonpublic, elementary or secondary schools 16 in this Commonwealth, teacher curriculum materials on economic 17 education and personal financial literacy. In distributing 18 materials for use in schools, the department shall consider 19 materials currently developed by Statewide economic education 20 organizations. Such materials may include curriculum on issues 21 related to our economic system, including, but not limited to, 22 the concepts identified in the Pennsylvania Academic Standards 23 for Economics and Personal Financial Literacy. 24 (3) Identify, recognize and establish awards for 25 Commonwealth schools that implement exemplary economic and 26 economic education and personal financial literacy curricula at 27 each benchmark identified by the Pennsylvania Academic Standards 28 for Economics and Personal Financial Literacy. 29 (4) Maintain an inventory of economic education and personal 30 financial literacy materials, programs and resources available 20070H0111B0133 - 2 -
1 in Commonwealth agencies. 2 (c) The secretary shall prepare and submit an annual report 3 to the Governor and the General Assembly on the status of 4 economic education and personal financial literacy programs in 5 this Commonwealth. The report shall outline economic education 6 and personal financial literacy programs and achievements, 7 highlight new initiatives and recommend future program needs. 8 (d) (1) The secretary shall consult, at least annually, 9 with the Pennsylvania Council on Economic Education's network of 10 university and college-based centers and economic education and 11 personal financial literacy organizations, in order to reach a 12 cross section of the economic, personal financial literacy and 13 education communities of this Commonwealth. The cross section 14 shall include, but not be limited to: 15 (i) Faculty and staff members of this Commonwealth's higher 16 education community, each of whom must have a background in or 17 knowledge of economics and personal financial literacy. 18 (ii) Teachers involved in economic education or personal 19 financial literacy. 20 (iii) Administrators of school entities who conduct an 21 economic or personal financial literacy education program. 22 (2) The consultation process shall: 23 (i) Assess the trends and needs in economic education and 24 personal financial literacy. 25 (ii) Consider the manner in which any funds are used to 26 support economic education and personal financial literacy 27 activities. 28 (iii) Make recommendations to the Governor and the General 29 Assembly regarding legislative or regulatory changes to improve 30 economic education and personal financial literacy, pursuant to 20070H0111B0133 - 3 -
1 the preparation and submittal of the report required by 2 subsection (c). 3 (e) The following words and phrases when used in this 4 section shall have the meanings given to them in this 5 subsection: 6 "Department." The Department of Education of the 7 Commonwealth. 8 "Personal financial literacy." The integration of various 9 factors relating to personal financial management, including 10 understanding financial institutions, using money, learning to 11 manage personal assets and liabilities, creating budgets and any 12 other factors that may assist an individual in this Commonwealth 13 to be financially responsible. 14 "School entity." A public school district, intermediate unit 15 or area vocational-technical school. 16 "Secretary." The Secretary of Education of the Commonwealth. 17 Section 2. This act shall take effect immediately. L26L24SFL/20070H0111B0133 - 4 -