Bill > A07133

This bill establishes the state financial literacy fund, a new fund managed jointly by the state comptroller, attorney general, and commissioner of taxation and finance, designed to support financial education and capability for at-risk populations in New York. The fund will receive up to one million dollars annually and will provide project grants to organizations (including state agencies and 501(c)(3) nonprofits) to develop and implement financial literacy programs. These programs can include free financial education content, individualized financial coaching, financial products and services for unbanked or underbanked consumers, and classroom-based financial education for youth. Grant recipients must promote economic security, include an evaluation component to measure outcomes, and submit annual reports detailing their use of funds, number of consumers aided, and quantitative results. Additionally, the bill requires school districts to incorporate financial literacy instruction into kindergarten through eighth-grade social studies curricula and authorizes the development of a financial literacy course for high school students, with the goal of providing students with basic financial knowledge and skills necessary for sound financial decision-making. The bill aims to improve financial capability by offering educational resources and support to individuals who may have limited access to traditional financial services or financial education.

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https://www.nysenate.gov/legislation/bills/2025/A7133