HB1501 (2020) Detail

Establishing a commission to study financial literacy in New Hampshire and to make recommendations for a multi-generational approach to financial education.


HB 1501 - AS INTRODUCED

 

 

2020 SESSION

20-2681

11/06

 

HOUSE BILL 1501

 

AN ACT establishing a commission to study financial literacy in New Hampshire and to make recommendations for a multi-generational approach to financial education.

 

SPONSORS: Rep. Griffith, Hills. 18; Rep. St. John, Hills. 27; Rep. Thompson, Ches. 14

 

COMMITTEE: Education

 

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ANALYSIS

 

This bill establishes a commission to study financial literacy in New Hampshire and to make recommendations for a multi-generational approach to financial education.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20-2681

11/06

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT establishing a commission to study financial literacy in New Hampshire and to make recommendations for a multi-generational approach to financial education.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Subdivision; Commission to Study Financial Literacy in New Hampshire and to Make Recommendations for a Multi-Generational Approach to Financial Education.  Amend RSA 383 by inserting after section 25 the following new subdivision:

Commission to Study Financial Literacy in New Hampshire and to Make Recommendations for a Multi-Generational Approach to Financial Education

383:26  Commission to Study Financial Literacy in New Hampshire and to Make Recommendations for a Multi-Generational Approach to Financial Education.

I.  There is established a commission to study financial literacy in New Hampshire public schools and examine best practices in order to make recommendations for a multi-generational approach to financial education and comprehension of recognized financial education standards. The purpose of the commission is to create a resource available to state agencies, teachers, and the public as a collection of information relating to financial education and the best practices of the field.

II.  The members of the commission shall be as follows:

(a)  Three members of the house of representatives, one of whom shall be a member of the house education committee, appointed by the speaker of the house of representatives.

(b)  Two members of the senate, appointed by the president of the senate.

(c)  The commissioner of the banking department, or designee.

(d)  The state president of the New Hampshire Jump$tart Coalition, or designee.

(e)  The president of the New Hampshire Association of Student Financial Aid Administrators, or designee.

(f)  The commissioner of the department of education, or designee.

(g)  One public member with expertise and experience in financial literacy, appointed by the governor.

III.  Legislative members of the commission shall receive mileage at the legislative rate when attending to the duties of the commission.

IV.  The commission shall:

(a)  Examine the current course offerings and fulfillment of state requirements of financial education in New Hampshire public schools.

(b)  Receive testimony on the state of financial education from stakeholders including, but not limited to, students, teachers, parents, and financial education professionals.

(c)  Recommend a framework and resource hub for financial literacy that shall be publicly available. This framework shall include best practices for what students and parents should know about financial education, where the public can go for support, and how the public can learn about financial education. This framework shall include, but not be limited to, K-12 public education, student loans, home-buying, tax preparation, and family budgeting.

(d)  Develop a strategy to implement a multi-generational approach to financial literacy that includes, but is not limited to, students, teachers, and parents.

V.  The members of the commission shall elect a chairperson from among the members.  The first meeting of the commission shall be called by the first-named house member.  The first meeting of the commission shall be held within 45 days of the effective date of this section.  Seven members of the commission shall constitute a quorum.

VI.  The commission shall prepare and publish an interim report on its findings and recommendations prior to preparing and publishing the framework and resource hub. The commission shall submit its interim report to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, the department of education, and the state library on or before November 1, 2020. The commission shall prepare and publish the final framework and resource hub on or before November 1, 2021.

2  Repeal.  RSA 383:26, relative to the commission to study financial literacy in New Hampshire, is repealed.

3  Effective Date.  

I.  Section  2 of this act shall take effect November 1, 2021.

II.  The remainder of this act shall take effect upon its passage.

Links

HB1501 at GenCourtMobile
HB1501 Discussion

Action Dates

Date Body Type
Jan. 22, 2020 House Hearing
Feb. 18, 2020 House Exec Session
House Floor Vote
March 11, 2020 House Floor Vote

Bill Text Revisions

HB1501 Revision: 7107 Date: Dec. 3, 2019, 10:34 a.m.

Docket

Date Status
Jan. 8, 2020 Introduced 01/08/2020 and referred to Education HJ 1 P. 24
Jan. 22, 2020 Public Hearing: 01/22/2020 01:00 pm LOB 207
Feb. 18, 2020 Executive Session: 02/18/2020 10:00 am LOB 207
March 11, 2020 Majority Committee Report: Ought to Pass for 03/11/2020 (Vote 12-6; RC) HC 10 P. 49
Majority Committee Report: Ought to Pass (Vote 12-6; RC)
Minority Committee Report: Inexpedient to Legislate
March 12, 2020 Ought to Pass: MA VV 03/12/2020 HJ 8 P. 47
June 16, 2020 Introduced 06/16/2020, and Laid on Table, MA, VV; 06/16/2020; SJ 8
June 16, 2020 No Pending Motion; 06/16/2020 SJ 8