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SECOND REGULAR SESSION
HOUSE COMMITTEE SUBSTITUTE FOR
HOUSE BILL NOS. 2303 & 2867
103RD GENERAL ASSEMBL Y
5784H.02C JOSEPH ENGLER, Chief Clerk
AN ACT
T o amend chapter 170, RSMo, by adding thereto one new section relating to personal finance
curriculum in schools.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 170, RSMo, is amended by adding thereto one new section, to be
2 known as section 170.281, to read as follows:
170.281. 1. As used in this section, "personal finance" means a course consisting
2 of financial literacy and up-to-date tools, res ources, and discipline necessary to succeed
3 in a personal and profession al capacity in the curren t economy .
4 2. Any instruction reg arding personal finance shall include, but is not limited to,
5 the following:
6 (1) Earning income and understanding paychecks;
7 (2) Budgeting and managing expenses;
8 (3) Saving and long-term financial planning;
9 (4) Banking and financial services;
10 (5) Understanding cr edit, loans, and inter est;
11 (6) Responsible use of credit cards;
12 (7) Investing, ret irem ent accounts, and compound interes t;
13 (8) Fraud preven tion and financial safety;
14 (9) T axes and civic financial r esponsibilities;
15 (10) Understanding contracts and major pur chases, including housing and
16 automobiles; and
17 (1 1) Insurance.
EXPLANA TION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is
intended to be omitted from the law . Matter in bold-face type in the above bill is proposed language.
18 3. (1) The department of elementary and secondary education shall convene a
19 work gro up to develop and recommend academic performance standards relat ing to the
20 one-half unit of cr edit of personal finance r equir ed by the state board of education. The
21 work group shall include, but not be limited to:
22 (a) Educators pr oviding instruction in personal finance;
23 (b) A r epresent ative from the department of elementary and secondary
24 education; and
25 (c) Up to two repr esentatives fr om each of the following:
26 a. The banking industry;
27 b. Entr epren eurs in the business community;
28 c. Nonpr ofit organizations that focus on educating young pr ofessionals and
29 entr epren eurs;
30 d. The investment industry;
31 e. The student loan industry;
32 f. The reti rem ent planning industry; and
33 g. The insurance industry .
34 (2) The total number of members of the work grou p shall be determined by the
35 department. At least twenty-five per cent of the total shall be educators pr oviding
36 instruction in personal finance.
37 4. The state board of education shall adopt and implement academic
38 performance standards relat ing to personal finance for the 2027-28 school year and
39 all subsequent school years, except that academic performance standards r elating to
40 personal finance shall be reviewe d every five years to determine if the performance
41 standards need to be updated to ref lect tr ends and best practices in the current
42 economy .
43 5. (1) For the 2027-28 school year and all subsequent school years, each school
44 district shall req uire that after the completion of grade nine each student satisfactorily
45 completes such one-half unit of credi t of personal finance before receivi ng a high school
46 diploma or certificate of graduation.
47 (2) A school district may elect to waive the requi rem ents of subdivision (1) of this
48 subsection for a student who transfers fr om outside the state to a Missouri high school if
49 the student can furnish documentation deemed acceptable by the school district of the
50 student's successful completion of a substantially similar course of instruction.
51 (3) A school district may allow a student in grade nine to complete such one-half
52 unit of credit of personal finance if, on the reco mmendation of a school counselor ,
53 completing such one-half unit of cr edit of personal finance is beneficial and appr opriate
54 for such student's personal plan of study or car eer academic plan.
HCS HBs 2303 & 2867 2
55 6. The r equir ements of section 160.514 shall not apply to this section.
✔
HCS HBs 2303 & 2867 3