74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 3331
 
                         Senate Bill 740
 
Sponsored by Senators WALKER, METSGER; Senators FERRIOLI, STARR
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Directs Department of Education to prepare financial education
program. Allows school districts to implement financial education
program.
 
                        A BILL FOR AN ACT
Relating to financial education.
  Whereas the Legislative Assembly recognizes that financial
illiteracy has reached record proportions and that the average
high school student lacks even a basic knowledge of personal
finance; and
  Whereas Oregon schools require reading, writing and arithmetic
to ensure that our children have the necessary foundation to earn
a paycheck but do not teach the financial skills necessary to
survive on this paycheck; and
  Whereas the Legislative Assembly recognizes the damaging
effects of failing to properly prepare youth to deal with the
financial obstacles of modern life, including bankruptcy, poor
retirement planning, mounting debt and a lower standard of living
for many Oregon families; now, therefore,
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) The Department of Education shall prepare
and make available to school districts a comprehensive education
program affecting appropriate parts of the curriculum to achieve
financial literacy and give students personal financial
management skills by teaching the basic principles involved with
earning, spending, saving and investing money.
  (2) In preparing the financial education program, the
department may consider any preexisting financial literacy
curricula or information the department deems appropriate.
  (3) A school district may adopt or modify and implement the
financial education program described in subsection (1) of this
section at the district's discretion.
  (4) To the extent that federal funds are available for these
purposes, the department shall use those funds for grants to
public schools and other measures to encourage implementation of
financial education programs. + }
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