§ 15-1551. Economic education and personal financial literacy programs
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: December 13, 2023
Effective: December 13, 2023
24 P.S. § 15-1551
§ 15-1551. Economic education and personal financial literacy programs
(1) Provide resource information on economics, economic education and personal financial literacy to educators and public and private schools and organizations. The department shall review and update its existing resource information following completion of the review of the State standards under the State Board of Education's standards under paragraph (2)(ii).
(2) Provide for the distribution, including through the department's Internet website, to school entities and private, nonpublic, elementary or secondary schools in this Commonwealth, of model curriculum materials and other available resources, including economic education partnership programs, on economic education and personal financial literacy, including the basic principle involved with earning, spending, saving and investing money. The model curriculum materials shall align with and complement existing State standards for personal financial literacy as set forth in 22 Pa. Code Ch. 41 (relating to academic standards and assessment). The following shall apply:
(3) Identify and recognize Commonwealth schools that implement exemplary economic and economic education and personal financial literacy curricula at each benchmark as set forth in existing State standards for Economics, Family and Consumer Science, and Career Education and Work as set forth in 22 Pa. Code Ch. 4.
(b.1)(1) Beginning with the 2026-2027 school year and in each school year thereafter, a school entity or nonpublic school shall provide a mandatory course in personal financial literacy with a value of at least one-half credit or half of a full credit. Students shall be required to complete the course once during grade nine, ten, eleven or twelve.
(2) Nothing in this subsection shall be construed to circumvent the provisions of 20 U.S.C. Ch. 332 (relating to education of individuals with disabilities). A student's individualized education program may provide for accommodations to enable the student to complete the course required under paragraph (1).
(3) The department shall develop or identify a model curriculum and a list of education materials which a school entity or nonpublic school may use in providing the course required under paragraph (1). The department shall consult with multiple organizations specializing in financial literacy education in developing the model curriculum and educational materials. The department may update existing model curriculum materials if necessary and other available resources under subsection (a) as necessary to comply with this paragraph and shall update the existing model curriculum materials and other available resources within one year of the date of revision of the State standards under subsection (a)(2)(ii).
(4) The department shall clarify which certifications are necessary to qualify an educator to provide instruction of the course required under paragraph (1), which shall include, at a minimum, family and consumer science, business, computer and information technology, mathematics and social studies. The department shall revise its certification and staffing policy guidelines as necessary to reflect the qualifications specified under this paragraph.
(2) The task force shall consist of nine (9) members appointed by the secretary, in consultation with the Secretary of Banking, representing school administrators, finance or economics teachers, school boards, students, business leaders, faculty from this Commonwealth's institutions of higher education having a background in or knowledge of personal financial literacy and other groups with expertise in financial literacy education. The task force shall elect one (1) of its members to serve as chairperson.
(d) The secretary and the Secretary of Banking shall jointly prepare and submit, in conjunction with the task force, a biennial report to the Governor and the General Assembly on the status of economic education and personal financial literacy programs in this Commonwealth. In addition to the recommendations made in accordance with subsection (c)(3)(iii), the report shall outline economic education and personal financial literacy programs and achievements, highlight new initiatives and recommend future program needs.
(e) The department may apply for any Federal, State or other funding that may be available to carry out the provisions of this section and may also use such unencumbered funds for grants to school entities and other measures to encourage the implementation of economic education and personal financial literacy education programs.
“Department.” The Department of Education of the Commonwealth.
“Educator.” As defined in section 1.2 of the act of December 12, 1973 (P.L. 397, No. 141),3 known as the “Educator Discipline Act.”
“Nonpublic school.” A nonprofit school, other than a public school, where a resident of this Commonwealth may legally fulfill the compulsory school attendance requirements of this act and which meet the requirements of 42 U.S.C. Ch. 21 Subch. V4 (relating to federally assisted programs).
“Personal financial literacy.” The integration of various factors relating to personal financial management, including understanding financial institutions, using money, learning to manage personal assets and liabilities, creating budgets and any other factors that may assist an individual in this Commonwealth to be financially responsible.
“Planning period.” A period of time during a school day which an educator may use for professional duties, including instructional preparation and planning, communications with parents and legal guardians of students and evaluating student work.
“School entity.” A school district, charter school, cyber charter school, regional charter school, intermediate unit or area career and technical school.
“Secretary.” The Secretary of Education of the Commonwealth.
Credits
1949, March 10, P.L. 30, No. 14, art. XV, § 1551, added 2010, Nov. 17, P.L. 996, No. 104, § 17, imd. effective. Amended 2019, Oct. 30, P.L. 460, No. 76, § 30, effective in 60 days [Dec. 30, 2019]; 2023, Dec. 13, P.L. 311, No. 35, § 8, imd. effective.
Footnotes
22 Pa. Code § 4.1 et seq.
20 U.S.C.A. § 1400 et seq.
24 P.S. § 2070.1b.
42 U.S.C.A. § 2000d et seq.
24 P.S. § 15-1551, PA ST 24 P.S. § 15-1551
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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