Bill > H46

This bill establishes a Financial Literacy Trust Fund to support financial education in Massachusetts schools, with several key provisions. The fund will be administered by the commissioner of elementary and secondary education and can receive money from state appropriations, public and private sources, and interest earnings. The funds can be used to develop financial literacy curriculum materials and provide professional development training for educators, with a priority on underserved and economically disadvantaged school districts. The bill also expands financial literacy standards to include a comprehensive range of topics such as loans, credit, investments, online commerce, taxes, retirement planning, consumer protection, and emerging financial technologies like cryptocurrencies. Private funding sources will be carefully reviewed to ensure they do not unduly influence the curriculum. The commissioner must submit an annual public report detailing the fund's activities, including sources of funds, expenditures, and the number of schools implementing financial literacy programs. Additionally, the bill changes language from "may" to "shall" regarding financial literacy education, effectively making such education mandatory, with implementation beginning one full academic year after the act's enactment.

Education

https://malegislature.gov/Bills/194/H46