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.