North Carolina 2019-2020 Session Status: In Committee Bipartisan · 6 R · 5 D cosponsors

SB 134 — Economics & Financial Literacy Act.

Last action — Reptd Fav Com Substitute

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

187 added · 64 removed

Plain-language change summary

The updated version of SB 134 now establishes a full credit course on Economics and Personal Finance (EPF) as a mandatory graduation requirement for high school students. Previously, the bill only required a semester course, but this change emphasizes the importance of comprehensive financial literacy education. Additionally, it clarifies that the State Board of Education will oversee the curriculum, ensuring that students receive in-depth instruction aligned with national standards. This matters because it aims to better prepare students for managing their finances and understanding economic principles, which are crucial life skills.

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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 S 1 SENATE BILL 134 Short Title:
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 S 2 SENATE BILL 134 Education/Higher Education Committee Substitute Adopted 4/3/19 Short Title:
Senators Tillman, Ballard, and Chaudhuri (Primary Sponsors).
Rules and Operations of the Senate February 27, 2019 A BILL TO BE ENTITLED AN ACT TO REQUIRE COMPLETION OF AN ECONOMICS AND PERSONAL FINANCE COURSE AS A HIGH SCHOOL GRADUATION REQUIREMENT IN LOCAL SCHOOL ADMINISTRATIVE UNITS AND TO REQUIRE PROFESSIONAL DEVELOPMENT FOR ECONOMICS AND PERSONAL FINANCE TEACHERS.
February 27, 2019 A BILL TO BE ENTITLED AN ACT TO REQUIRE COMPLETION OF AN ECONOMICS AND PERSONAL FINANCE COURSE AS A HIGH SCHOOL GRADUATION REQUIREMENT IN PUBLIC SCHOOLS, TO CLARIFY REQUIREMENTS FOR HIGH SCHOOL CIVIC LITERACY, AND TO REQUIRE PROFESSIONAL DEVELOPMENT FOR ECONOMICS AND PERSONAL FINANCE TEACHERS.
This act shall be known as the "Economics and Financial Literacy Act." SECTION 2.
This act shall be known as the "Economics and Financial Literacy Act." SECTION 2.(a) G.S.
G.S.
The State Board of Education shall require during the high school years the teaching of a semester course focused solely on Economics and Personal Finance (EPF).
The State Board shall also review the high school standard course of study to determine into which courses and grade levels personal financial literacy shall be integrated.
The content of the course shall align with the second edition of the Voluntary National Content Standards in Economics and the 2013 National Standards for Financial Literacy, as developed by the Council for Economic Education.
(b) Each student shall receive personal financial literacy instruction that shall include:
The State Board of Education shall require during the high school years the teaching of a full credit course focused solely on Economics and Personal Finance (EPF).
The State Board shall also review the high school standard course of study to determine into which courses and grade levels personal financial literacy during which the EPF course may be completed and shall be integrated.reorganize other courses as appropriate.
The content of the course shall, at a minimum, include the standards established by the second edition of the Voluntary National Content Standards in Economics and the 2013 National Standards for Financial Literacy, as developed by the Council for Economic Education.
(b) Each student shall receive The EPF course shall provide instruction on basic economic principles and shall provide personal financial literacy instruction that shall include:include the following:
The EPF course shall provide instruction on economic principles and shall provide personal financial literacy instruction that shall include, at a minimum, the following:
(6) Other relevant financial literacy issues." SECTION 3.
(6) Other relevant financial literacy issues.
G.S.
(c) The State Board of Education shall require that EPF teachers receive the professional development necessary to ensure that the intent and provisions of this section are carried out.
115C-81.65, as amended by Section 2 of this act, is amended by adding a new subsection to read:
To the extent funds are made available for this purpose, the State Board of Education shall require the employing entity to make available to EPF teachers and prospective EPF teachers the EPF *S134-v-2* General Assembly Of North Carolina Session 2019 professional development course provided by the North Carolina Council on Economic Education (NCCEE).
"(c) The Department of Public Instruction shall require that EPF teachers receive the professional development necessary to ensure that the intent and provisions of this section are carried out.
When practicable, teachers shall complete the EPF professional development course prior to teaching the EPF course in public schools.
To the extent funds are made available for this purpose, the State Board of Education *S134-v-1* General Assembly Of North Carolina Session 2019 shall require local school administrative units to make available to EPF teachers and prospective EPF teachers the EPF professional development course provided by the North Carolina Council on Economic Education (NCCEE).
If necessary, teachers maybeginteachingtheEPFcourseinpublicschoolswhileawaitingthenextpossibleopportunity to complete a session of the EPF professional development course.
To the extent possible, the EPF professional development course shall be taken at the NCCEE-approved location most conveniently located to the local school administrative unit." SECTION 4.
To the extent possible, the EPF professional development course shall be taken at the NCCEE-approved location most conveniently located to the local school administrative unit." SECTION 2.(b) The requirements of G.S.
For the 2019-2020 fiscal year, there is appropriated from the General FundtothenonprofitorganizationknownasTheNorthCarolinaCouncilonEconomicEducation (NCCEE) the sum of one million sixty-three thousand eight hundred dollars ($1,063,800) as grant-in-aid to provideforcompletionoftheprofessional development courserequired in Section 3 of this act for teachers of the high school course in Economics and Personal Finance (EPF).
115C-81.65(b), as enacted by this act, shall apply to all students entering the ninth grade in the 2020-2021 school year.
The funds appropriated by this section shall be used to provide (i) the EPF professional development course, including administration of the Test of Economic Literacyand the Working in Support of Education personal finance test, and the provision of a certificate of completion to qualified teachers, (ii) travel expense reimbursement, if necessary, for teachers required to complete the EPF professional development course, and (iii) a stipend to each teacher in the amount of five hundred dollars ($500.00), upon completion of the Test of Economic Literacyand the Working in Support of Education personal finance test.
The requirements of G.S.
By September 1, 2020, and by September 1 of the year following any fiscal year that NCCEE uses State funds thereafter, NCCEE, in consultation with the Department of Public Instruction, shall submit a report to the Joint Legislative Education Oversight Committee and the Fiscal Research Division on the activities described by this section and the expenditure of State funds.
115C-81.65(c), as enacted by this act, shall apply beginning July 1, 2019.
SECTION 5.
SECTION 3.(a) For the 2019-2020 fiscal year, there is appropriated from the General Fund to the nonprofit organization known as The North Carolina Council on Economic Education (NCCEE) the sum of one million sixty-three thousand eight hundred dollars ($1,063,800) as grant-in-aid to provide for completion of the professional development course required in Section 2 of this act for teachers of the high school course in Economics and Personal Finance (EPF).
Section 2 of this act is effective when it becomes law and applies beginning with the 2020-2021 school year.
The funds appropriated by this section shall be used to provide all of the following:
Sections 3 and 4 of this act are effective July1, 2019.
(a) The EPF professional development course, including administration of the Test of Economic Literacy and the Working in Support of Education personal finance test, and the provision of a certificate of completion to qualified teachers.
The remainder of this act is effective when it becomes law.
(b) A stipend in the amount of five hundred dollars ($500.00), upon completion of the Test of Economic Literacy and the Working in Support of Education personal finance test, to either the public school teacher, if the teacher attends the course on weekends or during a time outside the teacher's school year, or, to the teacher's public school employer, if the teacher attends the course on school days during the teacher's school year.
Page 2 Senate Bill 134-First Edition
SECTION 3.(b) By September 1, 2020, and by September 1 of the year following any fiscal year that NCCEE uses State funds thereafter, NCCEE, in consultation with the Department of Public Instruction, shall submit a report to the Joint Legislative Education Oversight Committee and the Fiscal Research Division on the activities described bythis section and the expenditure of State funds.
SECTION 3.(c) This section becomes effective July 1, 2019.
SECTION 4.(a) G.S.
115C-81.45 reads as rewritten:
"§ 115C-81.45.
Classes conducted in English;
citizenship;
and civic literacy.
… (c) Democratic Process and Citizenship Education.Education for Middle School Social Studies.
– (1) The State Board of Education shall include instruction in civic and citizenship education in the standard course of study for high school social studies.
The State Board of Education is stronglyencouraged to include, at a minimum, the following components in the high school civic and citizenship education standard course of study:
a.
That students write to a local, State, or federal elected official about an issue that is important to them.
b.
Instruction on the importance of voting and otherwise participating in the democratic process, including instruction on voter registration.
c.
Information about current events and governmental structure.
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d.
Information about the democratic process and how laws are made.
(2) The State Board of Education shall include instruction in civic and citizenship education in the standard course of studyfor middle school social studies.
The Page 2 Senate Bill 134-Second Edition General Assembly Of North Carolina Session 2019 State Board of Education is stronglyencouraged to include, at a minimum, the following components in the middle school civic and citizenship education standard course of study:
a.(1) A tour of representative local government facilities, such as the local jail, the courthouse, or a town hall, to help students understand the way their community is governed.
b.(2) Allowing students to choose and analyze a community problem and offer public policy recommendations on the problem to local officials.
c.(3) Information about getting involved in community groups.
(d) Founding Principles of the United States of America and North Carolina:
Civic Literacy.
– (1) The State Board of Education shall require during the high school years instruction in civic and citizenship education in the standard course of study for high school social studies through the teaching of a semester full credit course on the that shall be called Founding Principles of the United States of America and the State of North Carolina.
North Carolina:
Civic Literacy.
A passing grade in the course shall be required for graduation from high school, and the school.
(1a) The course required by subdivision (1) of this subsection shall be solely focused on civics and citizenship education, and shall include at least the following subjects:
a.
The Creator-endowed inalienable rights of the people.
b.
Structure of government, separation of powers with checks and balances.
c.
Frequent and free elections in a representative government.
d.
Rule of law.
e.
Equal justice under the law.
f.
Private property rights.
g.
Federalism.
h.
Due process.
i.
Individual rights as set forth in the Bill of Rights.
j.
Individual responsibility.
k.
Constitutional limitations on government power to tax and spend, and prompt payment of public debt.
l.
Strong defense and supremacy of civil authority over military.
m.
Peace, commerce, and honest friendship with all nations, entangling alliances with none.
(1b) The State Board of Education is strongly encouraged to include the following components in the course required by subdivision (1) of this subsection:
a.
That students write to a local, State, or federal elected official about an issue that is important to them.
b.
Instruction on the importance of voting and otherwise participating in the democratic process, including instruction on voter registration.
c.
Information about current events and governmental structure.
d.
Information about the democratic process and how laws are made.
(2) The State Board of Education shall require that any high school level curriculum-based tests for the course required in subdivision (1) of this subsection developed and administered statewide beginning with the 2016-2017 academic year include questions related to the philosophical foundations of our form of government and the principles underlying the Senate Bill 134-Second Edition Page 3 General Assembly Of North Carolina Session 2019 Declaration of Independence, the United States Constitution and its amendments, and the most important of the Federalist Papers.
(3) The Department of Public Instruction and the local boards of education, as appropriate, shall provide or cause to be provided curriculum content for the semester course required in subdivision(1) of this subsection and professional development to ensure that the intent and provisions of this subsection are carried out.
The curriculum content established shall include a review of the contributions made by Americans of all races.
(4) The Department of Public Instruction shall submit a biennial report by October 15 of each odd-numbered year to the Joint Legislative Education Oversight Committee covering the implementation of this subsection." SECTION 4.(b) The requirements of G.S.
115C-81.45(d), as amended by this act, shall apply to all students entering the ninth grade in the 2021-2022 school year.
SECTION 5.(a) G.S.
115C-218.85(a) is amended by adding a new subdivision to read:
"(5) A charter school shall provide financial literacy instruction as required by the State Board of Education pursuant to G.S.
115C-81.65, including required professional development for teachers of the EPF course." SECTION 5.(b) G.S.
115C-238.66(1) is amended by adding a new sub-subdivision to read:
"e.
The board of directors shall ensure that financial literacy instruction is provided as required by the State Board of Education pursuant to G.S.
115C-81.65, including required professional development for teachers of the EPF course." SECTION 5.(c) G.S.
116-239.8(b)(2) is amended by adding a new sub-subdivision to read:
"d.
The chancellor shall ensure that financial literacy instruction is provided as required by the State Board of Education pursuant to G.S.
115C-81.65, including required professional development for teachers of the EPF course." SECTION 5.(d) Section 6(d) of S.L.
2018-32 is amended by adding a new subdivision to read:
"(4a) G.S.
115C-81.65, Financial literacy." SECTION 6.
The State Board of Education shall begin the process for review and revision of the standard course of study for social studies in grades kindergarten through 12 in the 2019-2020 school year, and shall revise the high school standard course of study in accordance with the requirements of this act for the EPF course and the Founding Principles of America and North Carolina:
Civic Literacycourse.
The State Board shall review the high school standard course of study to determine the high school grade level during which the EPF course and the Founding Principles of America and North Carolina:
Civic Literacy course may be completed.
The State Board of Education shall not require more than four full course credits in social studies for high school graduation.
SECTION 7.
Except as otherwise provided herein, this act is effective when it becomes law.
Page 4 Senate Bill 134-Second Edition
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Action History

  1. Reptd Fav Com Substitute

  2. Com Substitute Adopted

  3. Re-ref Com On Appropriations/Base Budget

  4. Withdrawn From Com

  5. Re-ref to Education/Higher Education. If fav, re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate

  6. Passed 1st Reading

  7. Ref To Com On Rules and Operations of the Senate

  8. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 20 co-sponsors · 157 not signed on

Sponsors (2)

  • Tillman
  • Ballard

Co-sponsors (20)

Not signed on (157)

157 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance education
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Frequently asked questions

Who sponsors SB 134?
SB 134 is sponsored by Warren Daniel (Republican), Newton, Perry, Norman W. Sanderson (Republican), Searcy, Steinburg, Van Duyn, Woodard, Tillman, Ballard, Jay J. Chaudhuri (Democratic), Edwards, Ralph Hise (Republican), Horner, Paul A. Lowe, Jr. (Democratic), Tom McInnis (Republican), McKissick, Mujtaba A. Mohammed (Democratic), Todd Johnson (Republican), Michael Garrett (Democratic), Joyce Waddell (Democratic), and Brent Jackson (Republican).
What is the current status of SB 134?
This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 134?
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