SENATE BILL No. 507
DIGEST OF INTRODUCED BILL
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.
January 15, 2009, read first time and referred to Committee on Education and Career
First Regular Session 116th General Assembly (2009)
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SENATE BILL No. 507
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
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
(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
(6) IC 20-28-7-14 (void teacher contract when two (2) contracts
(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
(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
(19) IC 20-33-7 (parental access to education records).
(20) IC 20-31 (accountability for school performance and
(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
(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
(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.