PRIOR PRINTER'S NO. 94

PRINTER'S NO.  266

  

THE GENERAL ASSEMBLY OF PENNSYLVANIA

  

HOUSE BILL

 

No.

101

Session of

2009

  

  

INTRODUCED BY LONGIETTI, BAKER, BARRAR, BEAR, BOYD, BRENNAN, CALTAGIRONE, CARROLL, CAUSER, COHEN, CREIGHTON, DENLINGER, FABRIZIO, FAIRCHILD, FLECK, FRANKEL, FREEMAN, GEIST, GIBBONS, GROVE, GRUCELA, HALUSKA, HENNESSEY, HESS, HORNAMAN, W. KELLER, KIRKLAND, KORTZ, KOTIK, MANN, McILVAINE SMITH, MELIO, MENSCH, MICCARELLI, MILLER, M. O'BRIEN, PASHINSKI, PICKETT, READSHAW, SANTONI, SEIP, SIPTROTH, STERN, STEVENSON, STURLA, VULAKOVICH, WALKO, WHEATLEY, YUDICHAK, WANSACZ, PAYTON, REED, K. SMITH, MURT AND DALLY, JANUARY 28, 2009

  

  

AS REPORTED FROM COMMITTEE ON EDUCATION, HOUSE OF REPRESENTATIVES, AS AMENDED, FEBRUARY 4, 2009   

  

  

  

AN ACT

  

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Amending the act of March 10, 1949 (P.L.30, No.14), entitled "An

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act relating to the public school system, including certain

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provisions applicable as well to private and parochial

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schools; amending, revising, consolidating and changing the

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laws relating thereto," providing for development of economic

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education and personal financial literacy programs; and

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establishing the Economic Education and Personal Financial

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Literacy Fund.

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The General Assembly of the Commonwealth of Pennsylvania

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hereby enacts as follows:

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Section 1.  The act of March 10, 1949 (P.L.30, No.14), known

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as the Public School Code of 1949, is amended by adding a

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section to read:

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Section 1551.  Economic Education and Personal Financial

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Literacy Programs.--(a)  The General Assembly declares it is the

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purpose of this section to require the department to gather and

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disseminate curriculum materials for school entities or private,

 


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nonpublic, elementary or secondary schools in this Commonwealth

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related to teaching economics and personal finance curriculum as

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identified in the Pennsylvania Academic Standards for Economics,

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Family and Consumer Science, and Career Education and Work. The

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materials shall incorporate concepts of economics and personal

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financial literacy into the K-12 school curricula and shall be

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designed to educate the general student population who need to

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understand our economic system and the role the individual

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citizen, consumer and saver plays within that system. In

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gathering materials for use in schools, the department shall

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consider materials and resources currently available through

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international, national, Statewide and local economic and

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personal finance education organizations.

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(b)  The department shall have the power and its duty shall

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be to:

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(1)  Provide resource information on economics, economic

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education and personal financial literacy to educators and

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public and private schools and organizations.

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(2)  Provide for the distribution, upon request, through the

<--

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department's Internet website to school entities or private,

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nonpublic, elementary or secondary schools in this Commonwealth,

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teacher curriculum materials and other available resources,

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including economic education partnership programs, on economic

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education and personal finance concepts. In distributing

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materials and resources for use in schools, the department shall

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consider those currently available through international,

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national, Statewide and local economic, banking trade and

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personal finance education organizations. Such materials may

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include curriculum on issues related to our economic system,

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including, but not limited to, the concepts identified in the

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Pennsylvania Academic Standards for Economics, Family and

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Consumer Science, and Career Education and Work.

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(3)  Identify, and recognize and establish awards for 

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Commonwealth schools that implement exemplary economic and

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economic education and personal financial literacy curricula at

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each benchmark identified by the Pennsylvania Academic Standards

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for Economics, Family and Consumer Science, and Career Education

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and Work.

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(4)  Maintain an inventory of economic education and personal

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financial literacy materials, programs and resources available

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in Commonwealth agencies.

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(c)  The secretary shall prepare and submit an annual report

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to the Governor and the General Assembly on the status of

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economic education and personal financial literacy programs in

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this Commonwealth. The report shall outline economic education

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and personal financial literacy programs and achievements,

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highlight new initiatives and recommend future program needs.

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(d)  (1)  The secretary shall consult, at least annually,

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with a representative cross section of the economic, personal

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financial literacy, banking and education communities of this

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Commonwealth. The cross section shall include, but not be

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limited to:

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(i)  Statewide and local economic and personal finance

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education organizations.

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(ii)  Faculty and staff members of this Commonwealth's higher

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education community, each of whom must have a background in or

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knowledge of economics and personal financial literacy.

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(iii)  Teachers involved in economic education or personal

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financial literacy.

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(iv)  Administrators of school entities who conduct an

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economic or personal financial literacy education program.

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(2)  The consultation process shall:

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(i)  Assess the trends and needs in economic education and

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personal financial literacy.

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(ii)  Consider the manner in which any funds are used to

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support economic education and personal financial literacy

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activities.

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(iii)  Make recommendations to the Governor and the General

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Assembly regarding legislative or regulatory changes to improve

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economic education and personal financial literacy, pursuant to

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the preparation and submittal of the report required by

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subsection (c).

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(e)  There is hereby established a separate fund in the State

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Treasury to be known as the Economic Education and Personal

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Financial Literacy Fund. The fund shall be administered by the

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department, and all moneys in the fund are appropriated to the

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department on a continuing basis. The moneys in the fund shall

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be used solely for the purpose of implementing and continuing

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the provisions of this section, including program

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administration.

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(1)  The department is authorized, for purposes of

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implementing and administering this section:

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(i)  To accept and expend, on behalf of the Commonwealth, any

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appropriations from the General Assembly or Federal Government,

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gifts, donations, legacies and usages of money from individuals,

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organizations, public or private corporations and similar

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entities.

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(ii)  To apply for, accept and expend any and all Federal,

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State or other grants that may be available for the purposes of

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this section.

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(iii)  To pursue and establish partnerships with

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organizations, public and private corporations and similar

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entities through which it may raise money for the purposes of

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this section.

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(2)  All money received or raised under this subsection shall

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be paid into the State Treasury and credited to the fund.

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(f)  The following words and phrases when used in this

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section shall have the meanings given to them in this

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subsection:

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"Department."  The Department of Education of the

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Commonwealth.

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"Fund."  The Economic Education and Personal Financial

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Literacy Fund.

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"Personal financial literacy."  The integration of various

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factors relating to personal financial management, including

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understanding financial institutions, using money, learning to

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manage personal assets and liabilities, creating budgets and any

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other factors that may assist an individual in this Commonwealth

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to be financially responsible.

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"School entity."  A public school district, intermediate unit

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or area vocational-technical school.

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"Secretary."  The Secretary of Education of the Commonwealth.

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Section 2.  This act shall take effect immediately.

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