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SENATE BILL No. 507

Citations Affected: IC 20-24-8-5; IC 20-30-5-19.

Synopsis: Financial responsibility curriculum. Requires public schools (including charter schools) and accredited nonpublic schools to provide a basic course in personal finance to students in grades 10 through 12.

Effective: July 1, 2009.

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Dillon

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    January 15, 2009, read first time and referred to Committee on Education and Career Development.

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PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2008 Regular Session of the General Assembly.

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    A BILL FOR AN ACT to amend the Indiana Code concerning education.

SOURCE: IC 20-24-8-5; (09)IN0507.1.1. -->     SECTION 1. IC 20-24-8-5, AS AMENDED BY P.L.2-2006, SECTION 111, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2009]: Sec. 5. The following statutes and rules and guidelines adopted under the following statutes apply to a charter school:
        (1) IC 5-11-1-9 (required audits by the state board of accounts).
        (2) IC 20-39-1-1 (unified accounting system).
        (3) IC 20-35 (special education).
        (4) IC 20-26-5-10 and IC 20-28-5-9 (criminal history).
        (5) IC 20-26-5-6 (subject to laws requiring regulation by state agencies).
        (6) IC 20-28-7-14 (void teacher contract when two (2) contracts are signed).
        (7) IC 20-28-10-12 (nondiscrimination for teacher marital status).
        (8) IC 20-28-10-14 (teacher freedom of association).
        (9) IC 20-28-10-17 (school counselor immunity).
        (10) For conversion charter schools only, IC 20-28-6, IC 20-28-7,

IC 20-28-8, IC 20-28-9, and IC 20-28-10.
        (11) IC 20-33-2 (compulsory school attendance).
        (12) IC 20-33-3 (limitations on employment of children).
        (13) IC 20-33-8-19, IC 20-33-8-21, and IC 20-33-8-22 (student due process and judicial review).
        (14) IC 20-33-8-16 (firearms and deadly weapons).
        (15) IC 20-34-3 (health and safety measures).
        (16) IC 20-33-9 (reporting of student violations of law).
        (17) IC 20-30-3-2 and IC 20-30-3-4 (patriotic commemorative observances).
        (18) IC 20-31-3, IC 20-32-4, IC 20-32-5, IC 20-32-6, IC 20-32-8, or any other statute, rule, or guideline related to standardized testing (assessment programs, including remediation under the assessment programs).
        (19) IC 20-33-7 (parental access to education records).
        (20) IC 20-31 (accountability for school performance and improvement).
         (21) IC 20-30-5-19 (basic personal finance).

SOURCE: IC 20-30-5-19; (09)IN0507.1.2. -->     SECTION 2. IC 20-30-5-19 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2009]: Sec. 19. (a) Each school corporation (including a charter school) and each nonpublic school that voluntarily has become accredited under IC 20-19-2-8 shall include in its curriculum a course in basic personal finance for all students in grades 10 through 12.
    (b) A school corporation (including a charter school) or a nonpublic school that voluntarily has become accredited under IC 20-19-2-8 may meet the requirements of subsection (a) by either integrating within its curriculum instruction, or by conducting a seminar, that is designed to foster overall personal financial responsibility and that includes but is not limited to the following topics:
        (1) Budgeting.
        (2) Mortgages.
        (3) Credit cards.
        (4) Compound interest.
    (c) A person may not receive a high school diploma from a school subject to this section unless the person has received the instruction in basic personal finance required by this section.
    (d) The department shall develop guidelines and the state board shall adopt rules under IC 4-22-2 to assist teachers assigned to provide the instruction required by this section.