Illinois 94th Regular Session Status: Passed House

HB 2001 — EDUCATION-TECH

Last action — Session Sine Die

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

This bill died with 94th Regular Session. It reached “Passed House” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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.

Summary

Amends the School Code. Makes a technical change in a Section concerning implementing the provisions of Public Act 87-559.

Bill Text

What changed in the latest version

75 added · 24 removed

Plain-language change summary

The updated version of Bill HB 2001 includes the addition of a new Financial Literacy Fund and introduces a requirement for public high schools in Illinois to provide financial literacy instruction. This instruction will cover essential topics like managing a bank account, budgeting, understanding credit, and navigating loans. By adding this financial education program, the bill aims to better prepare students for real-world financial responsibilities, which can lead to improved financial well-being for future generations.

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*LRB09402831NHT32832b* HB2001 94TH GENERAL ASSEMBLY State of Illinois and 2006 HB2001 Introduced 2/14/2005, by Rep.
HB2001 Engrossed LRB094 02831 NHT 32832 b AN ACT concerning education.
Michael J.
Madigan - Barbara Flynn Currie - Calvin L.
Giles SYNOPSIS AS INTRODUCED:
ILCS 5/2-3.25j from Ch.
122, par.
2-3.25j concerning implementing the provisions of Public Act 87-559.
in a Section LRB094 02831 NHT 32832 b A BILL FOR HB2001 LRB094 02831 NHT 32832 b AN ACT concerning education.
The School Code is amended by changing Section 2-3.25j as follows:
The State Finance Act is amended by adding Section 5.640 as follows:
(105 ILCS 5/2-3.25j) (from Ch.
(30 ILCS 105/5.640 new) Sec.
122, par.
5.640.
2-3.25j) Sec.
The Financial Literacy Fund.
2-3.25j.
Section 10.
Implementation.
The School Code is amended by adding Section 27-12.5 as follows:
Commencing with the the 1992-93 school year and thereafter the provisions of this amendatory Act and any rules adopted hereunder shall be implemented on a schedule identified by the State Board of Education and incorporated as an integral part of the recognition process of the State Board of Education.
(105 ILCS 5/27-12.5 new) Sec.
(Source:
27-12.5.
P.A.
Financial literacy instruction.
93-470, eff.
(a) The State Board of Education shall develop and adopt curricula, materials, and guidelines for school boards to use in implementing a program of instruction on financial literacy within courses currently offered in public high schools in this State.
8-8-03.)
(b) The financial literacy program shall include, but not be limited to, instruction in all of the following areas:
(1) Opening a deposit account and assessing the quality of a depository institution’s services.
(2) Balancing a check book.
(3) Spending, credit, credit scoring, and managing debt, including retail and credit card debt.
(4) Completing a loan application.
(5) The implications of an inheritance.
(6) The basic principles of personal insurance policies.
(7) Computing State and federal income taxes.
(8) Local tax assessments.
(9) Computing interest rates by various mechanisms.
HB2001 Engrossed - 2 - LRB094 02831 NHT 32832 b (10) Understanding simple contracts.
(11) Contesting an incorrect billing statement.
(12) Savings and investing.
(13) State and federal laws concerning finance.
(c) The Financial Literacy Fund is created as a special fund in the State treasury.
State funds and private contributions for the promotion of financial literacy shall be deposited into the Financial Literacy Fund.
All money in the Financial Literacy Fund shall be used, subject to appropriation, by the State Board of Education to award grants to school districts for the following:
(1) Defraying the costs of financial literacy training for teachers.
(2) Rewarding a school or teacher who wins or achieves results at a certain level of success in a financial literacy competition.
(3) Rewarding a student who wins or achieves results at a certain level of success in a financial literacy competition.
(4) Funding activities, including books, games, field trips, computers, and other activities, related to financial literacy education.
In awarding grants, every effort must be made to ensure that all geographic areas of the State are represented.
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(d) A school board may establish a special fund in which to receive public funds and private contributions for the promotion of financial literacy.
Money in the fund shall be used for the following:
(1) Defraying the costs of financial literacy training for teachers.
(2) Rewarding a school or teacher who wins or achieves results at a certain level of success in a financial literacy competition.
(3) Rewarding a student who wins or achieves results at a certain level of success in a financial literacy competition.
HB2001 Engrossed - 3 - LRB094 02831 NHT 32832 b (4) Funding activities, including books, games, field trips, computers, and other activities, related to financial literacy education.
(e) The State Board of Education shall incorporate the elements of the financial literacy program into Illinois learning standards.
Section 99.
Effective date.
This Act takes effect upon becoming law.
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Action History

  1. Session Sine Die

  2. Referred to Rules

  3. First Reading

  4. State Mandates Fiscal Note Filed as amended by House Amendment No. 1, from the Illinois State Board of Education.

  5. Remove Chief Co-Sponsor Rep. Karen A. Yarbrough

  6. Chief Sponsor Changed to Rep. Karen A. Yarbrough

  7. Chief Senate Sponsor Sen. Jacqueline Y. Collins

  8. Placed on Calendar Order of First Reading April 20, 2005

  9. Arrive in Senate

  10. Added Co-Sponsor Rep. Milton Patterson

  11. Added Co-Sponsor Rep. Karen May

  12. Added Co-Sponsor Rep. Chapin Rose

  13. Added Chief Co-Sponsor Rep. Monique D. Davis

  14. Third Reading - Short Debate - Passed 099-013-002

  15. Placed on Calendar Order of 3rd Reading - Short Debate

  16. State Mandates Fiscal Note Requested - Withdrawn by Rep. William B. Black; As Amended by HA 1

  17. Remove Chief Co-Sponsor Rep. Marlow H. Colvin

  18. Chief Sponsor Changed to Rep. Marlow H. Colvin

  19. State Mandates Fiscal Note Requested by Rep. William B. Black; As Amended by HA 1

  20. Held on Calendar Order of Second Reading - Short Debate

  21. House Floor Amendment No. 1 Adopted by Voice Vote

  22. Added Chief Co-Sponsor Rep. Karen A. Yarbrough

  23. House Floor Amendment No. 1 Recommends Be Adopted Elementary & Secondary Education Committee; 011-000-004

  24. House Floor Amendment No. 1 Rules Refers to Elementary & Secondary Education Committee

  25. Added Chief Co-Sponsor Rep. Marlow H. Colvin

  26. House Floor Amendment No. 1 Referred to Rules Committee

  27. House Floor Amendment No. 1 Filed with Clerk by Rep. Karen A. Yarbrough

  28. Held on Calendar Order of Second Reading - Short Debate

  29. Second Reading - Short Debate

  30. Placed on Calendar 2nd Reading - Short Debate

  31. Do Pass / Short Debate Executive Committee; 013-000-000

  32. Assigned to Executive Committee

  33. Referred to Rules Committee

  34. First Reading

  35. Chief Co-Sponsor Rep. Calvin L. Giles

  36. Chief Co-Sponsor Rep. Barbara Flynn Currie

  37. Filed with the Clerk by Rep. Michael J. Madigan

Sponsors

  • Karen A. Yarbrough · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on · 1 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • Karen A. Yarbrough

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 99 Yea · 13 Nay · 6 Other
Party YeaNayPresentNot Voting
Unaffiliated 881206
Democrat 9000
Republican 2100
Total 991306
% of votes cast 84%11%0%5%
How each member voted (118)
Member Party Vote
Sacia — Nay
Saviano — Yea
Schmitz — Not Voting
Schock — Yea
Soto — Not Voting
Leitch — Yea
Acevedo — Yea
Bassi — Nay
Beaubien — Yea
Beiser — Yea
Bellock — Yea
Berrios — Not Voting
Biggins — Yea
Mautino — Yea
Black — Yea
Boland — Yea
May — Yea
Bost — Yea
Brauer — Yea
Brosnahan — Yea
Mendoza — Yea
Colvin — Yea
Moffitt — Yea
Coulson — Yea
Giles — Yea
Gordon — Yea
Munson — Yea
Hamos — Yea
Holbrook — Yea
Jefferson — Yea
Jenisch — Nay
Lang — Yea
Bradley, John — Yea
Krause — Yea
Bradley, Richard — Yea
Madigan — Yea
Brady — Yea
Meyer — Yea
Millner — Yea
Molaro — Yea
Mulligan — Yea
Mitchell, Bill — Yea
Hannig — Yea
Burke — Yea
Mitchell, Jerry — Yea
Myers — Nay
Nekritz — Yea
Osmond — Yea
Patterson — Yea
Phelps — Yea
Howard — Yea
Scully — Yea
Sommer — Yea
Tenhouse — Yea
Tryon — Yea
Turner — Yea
Jones — Yea
Verschoore — Yea
Wait — Yea
Washington — Yea
Davis, Monique — Yea
Winters — Yea
Younge — Yea
Sullivan — Nay
Watson — Nay
Chavez — Yea
Churchill — Nay
Cross — Yea
Cultra — Yea
Currie — Yea
D'Amico — Yea
Daniels — Yea
Dunn — Nay
Graham — Yea
Granberg — Yea
Hassert — Yea
Hultgren — Yea
Jakobsson — Yea
Kosel — Nay
McKeon — Not Voting
Yarbrough — Not Voting
Lindner — Yea
Mathias — Yea
McAuliffe — Yea
McCarthy — Yea
Poe — Yea
Bailey — Yea
Lyons, Eileen — Yea
Reitz — Yea
Lyons, Joseph — Yea
McGuire — Yea
Dugan — Yea
Dunkin — Yea
Eddy — Yea
Flider — Yea
Flowers — Yea
Franks — Yea
Fritchey — Yea
Froehlich — Yea
Osterman — Yea
Parke — Not Voting
Pihos — Nay
Pritchard — Nay
Reis — Nay
Ryg — Yea
Chapa LaVia — Yea
Eva-Dina Delgado Democrat Yea
Jay Hoffman Democrat Yea
Lakesia Collins Democrat Yea
Michael J. Kelly Democrat Yea
Nicholas K. Smith Democrat Yea
Patrick J. Joyce Democrat Yea
Robert "Bob" Rita Democrat Yea
Sara Feigenholtz Democrat Yea
William "Will" Davis Democrat Yea
Brad Stephens Republican Nay
Chapin Rose Republican Yea
Chris Miller Republican Yea

Official roll call →

Subjects

education technology
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Frequently asked questions

What does HB 2001 do?
Amends the School Code. Makes a technical change in a Section concerning implementing the provisions of Public Act 87-559.
Who sponsors HB 2001?
HB 2001 is sponsored by Karen A. Yarbrough.
What is the current status of HB 2001?
This bill died with 94th Regular Session. It reached “Passed House” 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 HB 2001?
Track HB 2001 free on One Click Politics — get push/email alerts when it moves.

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