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S423 • 2025

An Act relative to student financial literacy

An Act relative to student financial literacy

Education
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Patrick M. O'Connor
Last action
2026-07-02
Official status
Referred to Joint Committee on Education
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act relative to student financial literacy

An Act relative to student financial literacy By Mr.

What This Bill Does

  • An Act relative to student financial literacy By Mr.
  • O'Connor, a petition (accompanied by bill, Senate, No.
  • 423) of Patrick M.
  • O'Connor and Patricia D.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-07-02 Senate

    Reporting date extended to Friday July 31, 2026

  2. 2025-09-02 Joint

    Hearing scheduled for 09/16/2025 from 11:00 AM-5:00 PM in Gardner Auditorium

  3. 2025-02-27 Senate

    Referred to the committee on Education

  4. 2025-02-27 House

    House concurred

Official Summary Text

An Act relative to student financial literacy
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 423) of Patrick M. O'Connor and Patricia D. Jehlen for legislation relative to student financial literacy. Education.
Status:
Referred to Joint Committee on Education

Current Bill Text

Read the full stored bill text 
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Bill S.423

SECTION 1. Section 1Q of Chapter 69 of the General Laws, as so appearing, is hereby amended by striking paragraph (b) and replacing it with the following:-

(b) A school district, charter school, approved private day or residential school or collaborative school shall incorporate the financial literacy standards established pursuant to section 1D and subsection (a) into existing curriculum including, but not limited to, mathematics, history and social sciences, technology or business.

SECTION 2. Chapter 71 of the General Laws is hereby amended by adding the following new section:-

Section 98. (a) In all public schools, financial literacy shall be taught as required subjects to promote an understanding of personal finances and financial stability. Instruction shall include (i) loans; (ii) interest and interest accrual; (iii) credit card debt; (iv) online commerce; (v) rights and responsibilities of renting or buying a home; (vi) saving, investing and planning for retirement; (vii) the role of banking and financial services; (viii) balancing a checkbook; (ix) state and federal taxes; (x) charitable giving; (xi) evaluating media content, including online content, that relates to personal finance matters; and (xii) saving, investing and planning for higher education or professional training.

SECTION 3. The department may apply for federal, state or other funding, including funding available through the Economic Empowerment Trust Fund established pursuant to section 35QQ of chapter 10 to implement the provisions of this section.

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