04/04/2025 08:00 AM House EDUCATION

          HB  90-FINANCIAL LITERACY PROGRAM IN SCHOOLS                                                                      
                                                                                                                                
8:07:29 AM                                                                                                                    
                                                                                                                                
CO-CHAIR  HIMSCHOOT announced  that the  first order  of business                                                               
would  be HOUSE  BILL NO.  90, "An  Act establishing  a financial                                                               
literacy education program for public  schools; and providing for                                                               
an effective date."                                                                                                             
                                                                                                                                
8:09:25 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE TED  EISCHEID, Alaska State Legislature,  as prime                                                               
sponsor, gave  a PowerPoint presentation on  HB 90.  He  began on                                                               
slide  2, which  outlined  the varying  definitions of  financial                                                               
literacy  and moved  to slide  3, which  emphasized the  need for                                                               
financial  literacy curriculum  in Alaska's  school districts  by                                                               
pointing out  statistics related  to the average  American's lack                                                               
of  financial  knowledge.    He   continued  to  slide  4,  which                                                               
explained  how  HB  90  would  implement  its  proposed  policies                                                               
throughout schools in Alaska and  moved through slides 5-8, which                                                               
listed the  included topics that  would be  covered by HB  90 and                                                               
concluded the presentation on slide 9.                                                                                          
                                                                                                                                
8:19:46 AM                                                                                                                    
                                                                                                                                
MEREDITH  TRAINOR,  Staff,  Representative Ted  Eischeid,  Alaska                                                               
State  Legislature, on  behalf  of  Representative Ted  Eischeid,                                                               
prime sponsor,  presented HB 90 to  the committee.  She  read the                                                               
sectional analysis for HB 90  [included in the committee packet],                                                               
which read as follows [original punctuation provided]:                                                                          
                                                                                                                                
     Section 1.   AS 14.30 relating to  public schools, adds                                                                    
     a new section                                                                                                              
                                                                                                                                
     a. Directing school districts  to establish and provide                                                                    
     a financial  literacy education program,  equivalent to                                                                    
     a half credit,  for students in grades  nine through 12                                                                    
     that will  be approved by the  Department of Education&                                                                    
     Early Development.  And topics covered their-in.                                                                           
                                                                                                                                
     b. Creates an exemption  to this graduation requirement                                                                    
     for  transfer students  who cannot  reasonable complete                                                                    
     the course work.                                                                                                           
                                                                                                                                
     c. Provides definitions.                                                                                                   
                                                                                                                                
     Section 2.   Provides an applicability  date of January                                                                    
     1, 2027, for the first  graduating class that will need                                                                    
     to meet this requirement.                                                                                                  
                                                                                                                                
     Section 3.  Provides an effective date for the bill of                                                                     
     July 1, 2026.                                                                                                              
                                                                                                                                
8:20:55 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  SCHWANKE  asked if  there  is  other language  in                                                               
Alaska  Statute that  mandates the  Department  of Education  and                                                               
Early Development (DEED) to approve a proposed curriculum.                                                                      
                                                                                                                                
REPRESENTATIVE EISCHEID answered that  the intent of the proposed                                                               
legislation  was  to allow  for  a  school  district to  adopt  a                                                               
program with  a variety of  curated financial  literacy programs.                                                               
He said that  HB 90 would direct the DEED  to review the proposed                                                               
financial literacy curriculum every five years.                                                                                 
                                                                                                                                
8:24:25 AM                                                                                                                    
                                                                                                                                
CO-CHAIR  STORY shared  her concern  that  HB 90  would place  an                                                               
undue  budget  burden  on  school districts  by  creating  a  new                                                               
graduation requirement and  asked the bill sponsor  if his office                                                               
had consulted  school districts  around Alaska  for input  on the                                                               
proposed legislation.                                                                                                           
                                                                                                                                
REPRESENTATIVE EISCHEID  explained that it was  his intention for                                                               
the proposed  legislation to create  a graduation  requirement to                                                               
the "extent practicable"  for school districts to  implement.  He                                                               
said that  he spoke  to the superintendent  of the  Juneau School                                                               
District (JSD) and  shared his belief that  financial literacy is                                                               
paramount in Alaskan's education careers.                                                                                       
                                                                                                                                
8:31:59 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  UNDERWOOD   commented  that   financial  literacy                                                               
should be implemented for both legislators and students alike.                                                                  
                                                                                                                                
REPRESENTATIVE  EISCHEID said  that he  often heard  "why are  we                                                               
learning this" during  his time as a teacher  and emphasized that                                                               
his role  as a science teacher  was to encourage his  students to                                                               
think   scientifically  and   shared  his   admiration  for   the                                                               
independence  of  Alaskans.    He   emphasized  his  belief  that                                                               
financial  literacy  might  allow   for  people  to  realize  the                                                               
"American dream."                                                                                                               
                                                                                                                                
8:36:23 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE SCHWANKE shared a joke  and asked if there are any                                                               
current  financial  literacy  requirements within  the  Anchorage                                                               
School District (ASD).                                                                                                          
                                                                                                                                
REPRESENTATIVE  EISCHEID answered  that he  would follow-up  with                                                               
more   information  regarding   the   ASD's  financial   literacy                                                               
requirements.  He  shared a story about an 18  year-old and a 60-                                                               
year  old  taking   the  same  financial  literacy   class  at  a                                                               
university as a  means to emphasize the importance  of the equity                                                               
that financial literacy might provide someone.                                                                                  
                                                                                                                                
8:39:56 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE DIBERT  commented that she  has a 20  year-old son                                                               
whose  only  financial understanding  is  to  save parts  of  his                                                               
paycheck.                                                                                                                       
                                                                                                                                
CO-CHAIR HIMSCHOOT  added that  HB 90  might add  to a  burden of                                                               
budgeting  and  staffing  that school  districts  in  Alaska  are                                                               
currently facing.