Vote Smart's Synopsis:

Vote to pass a bill that establishes a personal financial literacy education fund in Massachusetts.

Highlights:

• Establishes the Personal Financial Literacy Education Fund. (Sec. 2MMMMMM).

• Authorizes the commissioner of elementary and secondary education to prioritize underserved communities and schools with a financial literacy program (Sec. 2MMMMMM).

• Requires that funds given by private sources be reviewed by the commissioner before being deposited (Sec. 2MMMMMM).

• Requires the commissioner to create a report stating the sources and amounts of funds received, expenditures, grants, anticipated revenue, and projections for the following year, the number of schools that have used the funds, and the number of schools that applied for the fund but were not granted funding (Sec. 2MMMMMM).

• Requires every school district to have instruction in personal financial literacy (Sec 102).

• Specifies that instruction should include topics on earnings and spending income, taxes, long-term savings, role of banks and financial institutions, interest, financial regulation, investment assets, avoiding theft and online scams, cryptocurrencies, and home investments (Sec 102).

• Requires the department to assist in providing materials, professional development opportunities, and seminars (Sec 102).

Full Bill Text
Full Bill Text

Full Bill Text