Introduced Version
HOUSE BILL No. 1565
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 20-24-8-5; IC 20-30-5.
Synopsis: Financial literacy curriculum and fund. Requires public
schools (including charter schools) and accredited nonpublic schools
to provide instruction in personal financial responsibility to students in
grades 9 through 12.
Effective: July 1, 2009.
January 16, 2009, read first time and referred to Committee on Education.
Introduced
First Regular Session 116th General Assembly (2009)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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HOUSE BILL No. 1565
A BILL FOR AN ACT to amend the Indiana Code concerning
education.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 20-24-8-5; (09)IN1565.1.1. -->
SECTION 1. IC 20-24-8-5, AS AMENDED BY P.L.2-2006,
SECTION 111, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2009]: Sec. 5. The following statutes and rules
and guidelines adopted under the following statutes apply to a charter
school:
(1) IC 5-11-1-9 (required audits by the state board of accounts).
(2) IC 20-39-1-1 (unified accounting system).
(3) IC 20-35 (special education).
(4) IC 20-26-5-10 and IC 20-28-5-9 (criminal history).
(5) IC 20-26-5-6 (subject to laws requiring regulation by state
agencies).
(6) IC 20-28-7-14 (void teacher contract when two (2) contracts
are signed).
(7) IC 20-28-10-12 (nondiscrimination for teacher marital status).
(8) IC 20-28-10-14 (teacher freedom of association).
(9) IC 20-28-10-17 (school counselor immunity).
(10) For conversion charter schools only, IC 20-28-6, IC 20-28-7,
IC 20-28-8, IC 20-28-9, and IC 20-28-10.
(11) IC 20-33-2 (compulsory school attendance).
(12) IC 20-33-3 (limitations on employment of children).
(13) IC 20-33-8-19, IC 20-33-8-21, and IC 20-33-8-22 (student
due process and judicial review).
(14) IC 20-33-8-16 (firearms and deadly weapons).
(15) IC 20-34-3 (health and safety measures).
(16) IC 20-33-9 (reporting of student violations of law).
(17) IC 20-30-3-2 and IC 20-30-3-4 (patriotic commemorative
observances).
(18) IC 20-31-3, IC 20-32-4, IC 20-32-5, IC 20-32-6, IC 20-32-8,
or any other statute, rule, or guideline related to standardized
testing (assessment programs, including remediation under the
assessment programs).
(19) IC 20-33-7 (parental access to education records).
(20) IC 20-31 (accountability for school performance and
improvement).
(21) IC 20-30-5-19 (personal financial responsibility
instruction).
SOURCE: IC 20-30-5-19; (09)IN1565.1.2. -->
SECTION 2. IC 20-30-5-19 IS ADDED TO THE INDIANA CODE
AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2009]:
Sec. 19. (a) As used in this section, "program" refers to
the financial literacy program established by subsection (b).
(b) The financial literacy program is established.
(c) The department shall develop and implement the financial
literacy program.
(d) Each school corporation (including each charter school) and
each nonpublic school that voluntarily has become accredited
under IC 20-19-2-8 shall include in its curriculum for all students
in grades 9 through 12 instruction concerning personal financial
responsibility.
(e) A school corporation (including a charter school) and a
nonpublic school that voluntarily has become accredited under
IC 20-19-2-8 may meet the requirements of subsection (d) by
integrating, within its curriculum, at least one (1) full:
(1) semester; or
(2) quarter;
course of instruction that is designed to foster overall personal
financial responsibility.
(f) The information provided under subsection (d) must include,
but not be limited to, instruction in the following areas:
(1) Opening a deposit account and assessing the quality of a
depository institution's services.
(2) Balancing a checkbook.
(3) Spending, credit scoring, and managing debt, including
retail and credit card debt.
(4) Completing a loan application.
(5) The implication of 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.
(10) Understanding simple contracts.
(11) Contesting an incorrect billing statement.
(12) Saving and investing.
(13) State and federal laws concerning finance.
(g) A person may not receive a high school diploma from a
school subject to this section unless the person has received the
instruction in personal financial responsibility required by this
section.
(h) The department shall develop guidelines and the state board
shall adopt rules under IC 4-22-2 to assist teachers assigned to
provide the instruction required by this section.