HBA-SEB H.B. 226 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 226 By: West, George Public Education 4/15/1999 Introduced BACKGROUND AND PURPOSE Currently, personal finance education is not a part of the required high school curriculum. Students may benefit from an understanding of the principles of personal finance, such as applying for loans or credit cards, managing debt, and planning for retirement. H.B. 226 requires the State Board of Education to make personal finance education a condition for high school graduation and a condition for the accreditation of school districts. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that rulemaking authority is expressly granted to the State Board of Education in SECTION 1 (Section 28.002, Education Code) and SECTION 2 of this bill. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 28.002(d), Education Code, to require the State Board of Education (the board) to include elements of personal finance education as a condition for high school graduation. Requires the board to specify that each district is to provide instruction in personal finance at one or more high school grade levels, specified by board rule, as a condition for accreditation. SECTION 2. Requires the board to adopt rules in accordance with this section by March 1, 2000, to be put into effect beginning with the 2000-2001 school year. Requires the board's rules to allow a transition period during the 2000-2001 school year in order to keep the personal finance education requirement from placing an undue hardship on high school students in their junior or senior year. SECTION 3. Emergency clause. Effective date: upon passage.