| AN ACT |
to amend Tennessee Code Annotated which will
include Financial Literacy Education in order to
graduate from any public or private high school in
the State of Tennessee. |
BE IT ENACTED BY THE 2008 STATE 4-H CONGRESS:
Section 1:
According to Bankruptcy Law Network, Tennessee is currently leading the nation in
bankruptcy filings. In Tennessee, about 5.8 residents per thousand file bankruptcy per year.
Personal bankruptcy filings in Tennessee is up approximately 17 percent in 2007 from the number of
filings in 2006.
Section 2:
This act shall require that the state board of education establish a course of
instruction in personal finance for public high schools. The personal finance course will be for
one semester and required by all students. Passage of such course shall be required to receive a
high school diploma.
Section
3: The personal finance course must include the following topics:
| (A) |
Recording keeping; |
| (B) |
Basic budgeting; |
| (C) |
Banking and financial services, including balancing a checkbook or a bank account |
| (D) |
Saving and financial investments |
| (E) |
Loans and borrowing money, including interest, credit card debt, predatory lending, and
payday loans |
| (F) |
Rights and responsibilities of renting or buying a home |
| (G) |
Insurance |
|
Section 4: This act shall take effect July 1, 2008 and shall apply to all students graduating from
high school in the 2011 - 2012 school year and school years thereafter.
| Passed: _____________________ |
___________________________________
Speaker of the Senate
Tennessee 4-H Congress |
|
___________________________________
Speaker of the House of Representatives
Tennessee 4-H Congress
|
Approved: ___________________ |
___________________________________
Governor
Tennessee 4-H Congress
|
|
