HOUSE BILL No. 5327


     October 23, 2001, Introduced by Reps. Bishop, Koetje, Richardville, Lipsey, Spade, Stewart and Raczkowski and referred to the Committee on
Education.


        A bill to amend 1976 PA 451, entitled

   "The revised school code,"

   (MCL 380.1 to 380.1852) by adding section 1165.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 1165.  (1) NOT LATER THAN MARCH 1, 2002, THE DEPARTMENT

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      SHALL DEVELOP OR ADOPT, AND SHALL MAKE AVAILABLE TO SCHOOLS, 1 OR

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      MORE MODEL PROGRAMS FOR YOUTH FINANCIAL EDUCATION.  A PROGRAM

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      UNDER THIS SECTION SHALL BE DESIGNED TO INCORPORATE FINANCIAL

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      EDUCATION THROUGHOUT THE CURRICULUM FOR GRADES K TO 12 AND SHALL

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      BE BASED ON THE CONCEPT OF ACHIEVING FINANCIAL LITERACY THROUGH

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      THE TEACHING OF PERSONAL FINANCIAL MANAGEMENT SKILLS AND THE

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      BASIC PRINCIPLES INVOLVED WITH EARNING, SPENDING, SAVING, AND

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      INVESTING.

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           (2) EACH SCHOOL DISTRICT, LOCAL ACT SCHOOL DISTRICT, AND

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      PUBLIC SCHOOL ACADEMY IS ENCOURAGED TO ADOPT AND IMPLEMENT THE


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      MODEL FINANCIAL EDUCATION PROGRAMS DEVELOPED UNDER SUBSECTION (1)

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      OR 1 OR MORE SIMILAR FINANCIAL EDUCATION PROGRAMS.

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           (3) TO THE EXTENT THAT FEDERAL FUNDS ARE AVAILABLE FOR THESE

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      PURPOSES, THE DEPARTMENT SHALL USE THOSE FUNDS FOR GRANTS TO

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      PUBLIC SCHOOLS AND OTHER MEASURES TO ENCOURAGE IMPLEMENTATION OF

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      FINANCIAL EDUCATION PROGRAMS.












































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