HB 1703-FN, requiring a course in business or financial literacy as a prerequisite to high school graduation. MAJORITY: OUGHT TO PASS. MINORITY: INEXPEDIENT TO LEGISLATE.
Rep. J.R. Hoell for the Majority of Education: The committee felt there is a real need to instruct students in the area of home finance, including the following areas of instruction: budgets, investing, borrowing, insurance, checking and savings accounts and taxation. These skills are critical to success of these students after graduation in today's society, however, the committee also felt that the current text of the bill was an unfunded mandate. There was sufficient value in addressing the concerns this year, that the committee believed that an amendment was necessary to correct the constitutional concerns and was willing to draft one, but the house schedule did not permit drafting an amendment in time to be ready for the house deadline. Vote 12-4.
Rep. Barbara E Shaw for the Minority of Education: The implementation of the requirements of this bill would be an unfunded mandate that could cost more than four million dollars in local expenditures. It requires an additional course of study rather than stressing skills or proficiency of subject matter and adds additional credit for graduation. The minority of the committee chose not to support this bill as written at this time.
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