| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to requiring general academic teaching institutions to |
|
|
offer personal financial literacy training. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter F, Chapter 51, Education Code, is |
|
|
amended by adding Section 51.305 to read as follows: |
|
|
Sec. 51.305. PERSONAL FINANCIAL LITERACY TRAINING. (a) The |
|
|
Texas Higher Education Coordinating Board by rule shall: |
|
|
(1) require a general academic teaching institution to |
|
|
offer training in personal financial literacy to provide students |
|
|
of the institution with the knowledge and skills necessary as |
|
|
self-supporting adults to make important decisions relating to |
|
|
personal financial matters; and |
|
|
(2) determine the topics to be covered by the |
|
|
training, which may include budgeting, credit cards, spending, |
|
|
saving, loan repayment and consolidation, taxes, retirement |
|
|
planning, and financing of health care and other benefits. |
|
|
(b) The coordinating board by rule may provide for the |
|
|
training required under this section to be offered in an online |
|
|
course. |
|
|
(c) The coordinating board shall require institutions to |
|
|
offer the training required by this section as soon as the |
|
|
coordinating board considers practical, but not later than the 2011 |
|
|
fall semester. This subsection expires January 1, 2012. |
|
|
SECTION 2. The Texas Higher Education Coordinating Board |
|
|
shall adopt rules for the administration of Section 51.305, |
|
|
Education Code, as added by this Act, as soon as practicable after |
|
|
this Act takes effect. For that purpose, the coordinating board may |
|
|
adopt the rules in the manner provided by law for emergency rules. |
|
|
SECTION 3. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2009. |