76th OREGON LEGISLATIVE ASSEMBLY--2011 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 1250
 
                           A-Engrossed
 
                    House Joint Resolution 24
                  Ordered by the House April 5
            Including House Amendments dated April 5
 
Sponsored by Representative WHISNANT, Senator BONAMICI;
  Representatives BOONE, CONGER, ESQUIVEL, FREEMAN, HANNA,
  HUFFMAN, MCLANE, SPRENGER, THATCHER, THOMPSON, WINGARD, Senator
  TELFER
 
 
                             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.
 
  Urges school districts to require students to
 { - successfully complete financial literacy course - }  { +
demonstrate proficiency in financial literacy by successfully
completing financial literacy course or program + } prior to
graduation.
 
                        JOINT RESOLUTION
  Whereas a person who is financially literate is able to
understand finance and to make informed judgments and effective
decisions about money; and
  Whereas financial illiteracy has reached record proportions and
the average high school student lacks even basic knowledge of
personal finance; and
  Whereas teaching financial literacy is not a priority with
parents, as shown by research that found that 70 percent of
parents had taught their teenagers how to do laundry while only
34 percent of parents had taught their teenagers to balance a
checkbook and 29 percent had taught them about how credit card
fees and interest work; and
  Whereas Oregon schools require students to meet minimum levels
of understanding in mathematics, science and English to ensure
that the students have the necessary foundation to earn a
paycheck but do not teach the financial skills necessary to
survive on that 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 poor retirement
planning, mounting personal debt and a lower standard of living
for many Oregon families; and
  Whereas school districts may implement financial literacy
requirements and should provide financial literacy courses or
otherwise provide opportunities that help students to achieve
financial literacy; and
  Whereas the Department of Education should assist school
districts in teaching financial literacy to students and
assessing the financial literacy of students by providing school
districts with a model financial literacy course or a model
program related to financial literacy; and
  Whereas a model financial literacy course or a model program
related to financial literacy that is provided by the Department
of Education to school districts should teach financial
management skills, including basic principles involved with
earning, spending, saving and investing money; and
  Whereas the Department of Education, in preparing a model
financial literacy course or a model program related to financial
literacy, is encouraged to consider any preexisting courses or
programs that are available at no cost to the department; now,
therefore,
Be It Resolved by the Legislative Assembly of the State of
  Oregon:
  That we, the members of the Seventy-sixth Legislative Assembly,
urge school districts to require students to demonstrate
proficiency in financial literacy by successfully completing a
one-half credit financial literacy course or a program related to
financial literacy prior to graduation.
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