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A4039
ASSEMBLY, No. 4039
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED FEBRUARY 12, 2026
Sponsored by:
Assemblyman� ALEX SAUICKIE
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
���� Provides grants to nonprofit organizations that
provide financial literacy classes; appropriates $100,000.
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
establishing
grants to financial nonprofit
organizations that provide financial literacy education.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� As used in this act:
���� �Commissioner� means the
Commissioner of Banking and Insurance.
���� �Financial education courses�
means any on-line or in-person education module, any comprehensive set of
videos, or any self-guided learning tool which provides education on personal
finance topics as defined by this bill.
���� �Financial nonprofit
organizations� means any 501(c)(3) or similarly certified organization whose
primary focus is providing consumer financial counseling, debt management, or
financial literacy programs.
���� 2.��� The Legislature finds
and declares that having the knowledge and capability to manage personal
finances enables citizens to make better financial decisions and creates a
foundation for long-term stability at both home and the workplace.� The ability
to develop a personal budget, manage debt, create savings, along with the
understanding how to finance large purchases such a residence or an automobile,
provides an important knowledge base and can be the catalyst to the removal of
barriers which prevent a fuller participation in the economy.� However, there
is a shortage of availability of personal finance classes within public
schools, post-secondary education, and adult education.�
���� It is fitting for New Jersey
to address this shortfall by providing grants to nonprofit organizations to
develop, organize, and provide classes in financial literacy.
���� 3.��� a.� The Commissioner of
Banking and Insurance shall establish a program providing grants to nonprofit
organization to develop, organize, and provide classes in financial literacy.
���� b.��� A nonprofit organization
participating in the grant program shall provide classes on topics that
include, but are not limited to, developing a budget, establishing credit and
the responsible use of credit cards, understanding automobile and mortgage loans,
personal taxes, introduction to investing in fixed incomes (securities) and
equities (stocks) as well as other personal finance topics as proposed by the
organizations.
���� c.���� The commissioner shall
provide grants of up to $5,000 for financial nonprofit organizations to develop
and provide personal finance courses within the high school, college, and adult
education communities.� The goal of the programs is to broaden the reach of
financial education.
���� The commissioner shall
establish an application process and evaluation criteria upon which to
determine the successful applicants.
���� 4.��� There is appropriated
from the General Fund $100,000 to effectuate the purposes of this act.
���� 5.��� This act shall take
effect on the first day of the seventh month next following the date of
enactment and the Commissioner of Banking and Insurance may take such
anticipatory administrative action in advance thereof as shall be necessary for
the implementation of the act, and shall expire one year following the
expenditure of all funds appropriated for the purposes of this act.
STATEMENT
���� This bill requires the
Commissioner of Banking and Insurance to establish a program to provide grants
to nonprofit organizations that provide financial literacy classes.
���� Many citizens have limited
knowledge in the concepts of personal budgeting, investing, and managing debt.�
This lack of knowledge can hinder their abilities to secure credit for major
purchases and save for retirement.
���� The bill addresses the lack of
opportunities for education in personal finance by creating a grant program for
financial nonprofits to develop and provide personal finance courses, with the
goal of broadening the reach of financial education.� Individual grants under
the program are capped at $5,000.
���� The bill appropriates $100,000
from the General Fund.�