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AN ACT
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relating to requiring general academic teaching institutions to |
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offer personal financial literacy training. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter F, Chapter 51, Education Code, is |
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amended by adding Section 51.305 to read as follows: |
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Sec. 51.305. PERSONAL FINANCIAL LITERACY TRAINING. (a) In |
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this section: |
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(1) "Coordinating board" means the Texas Higher |
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Education Coordinating Board. |
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(2) "General academic teaching institution" has the |
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meaning assigned by Section 61.003. |
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(b) The coordinating board by rule shall: |
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(1) require a general academic teaching institution to |
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offer training in personal financial literacy to provide students |
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of the institution with the knowledge and skills necessary as |
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self-supporting adults to make important decisions relating to |
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personal financial matters; and |
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(2) determine the topics to be covered by the |
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training, which may include budgeting, credit cards, spending, |
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saving, loan repayment and consolidation, taxes, retirement |
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planning, and financing of health care and other benefits. |
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(c) The coordinating board by rule may provide for the |
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training required under this section to be offered in an online |
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course. |
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(d) The coordinating board shall require general academic |
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teaching institutions to offer the training required by this |
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section as soon as the coordinating board considers practical, but |
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not later than the 2013 fall semester. This subsection expires |
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January 1, 2014. |
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SECTION 2. The Texas Higher Education Coordinating Board |
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shall adopt rules for the administration of Section 51.305, |
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Education Code, as added by this Act, as soon as practicable after |
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this Act takes effect. For that purpose, the coordinating board may |
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adopt the rules in the manner provided by law for emergency rules. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 399 was passed by the House on April |
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7, 2011, by the following vote: Yeas 141, Nays 3, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 399 was passed by the Senate on May |
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19, 2011, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |