00                            SENATE BILL NO. 99                                                                          
01 "An Act establishing a financial literacy education course for public schools; and                                      
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 14.30 is amended by adding a new section to read:                                                  
05                Article 17. Financial Literacy Education Course.                                                       
06 Sec. 14.30.850. Financial literacy education course. (a) Each school district                                         
07 shall establish and provide to students in grades nine through 12 a one-half credit hour                                
08 financial literacy education course approved by the department. A school may not                                        
09 issue a secondary school diploma to a student unless the student has completed a                                        
10       financial literacy course under this section. The course must include discussion of or                            
11       instruction on                                                                                                    
12                 (1)  different types of bank accounts and opening and managing a bank                                   
13       account;                                                                                                          
14                 (2)  making a budget;                                                                                   

01                 (3)  basic principles of money management, including spending, credit,                                  
02       credit scores, and managing retail debt, credit card debt, and other types of debt;                               
03                 (4)  basic principles of completing a loan application;                                                 
04                 (5)  basic principles of personal insurance policies;                                                   
05                 (6)  basic computation of federal income taxes;                                                         
06                 (7)  avoiding fraud and financial deception;                                                            
07                 (8)  simple contracts;                                                                                  
08                 (9)  contesting an incorrect billing statement;                                                         
09                 (10)  computing interest rates by various mechanisms;                                                   
10                 (11)  types of savings and investments;                                                                 
11                 (12)  basic principles of retirement accounts;                                                          
12                 (13)  receiving an inheritance and related financial implications; and                                  
13                 (14)  postsecondary financial aid and scholarships.                                                     
14            (b)  In this section, "school district" has the meaning given in AS 14.30.350.                               
15    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
16 read:                                                                                                                   
17       APPLICABILITY. This Act applies to students who will graduate high school on or                                   
18 after January 1, 2026.                                                                                                  
19    * Sec. 3. This Act takes effect July 1, 2025.