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An Act To Set Standards in the System of Learning Results for Financial Literacy
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §6209, first ¶, as amended by PL 2015, c. 489, §3, is further amended to read:
The department in consultation with the state board shall establish and implement a comprehensive, statewide system of learning results, which may include a core of standards in English language arts and mathematics for kindergarten to grade 12 established in common with the other states, as set forth in this section and in department rules implementing this section and other curricular requirements. The department must establish accountability standards at all grade levels in the areas of mathematics; reading; and science and technology. The department shall establish parameters for essential instruction in English language arts; mathematics; science and technology; social studies, including personal finance; career and education development; visual and performing arts; health, physical education and wellness; and world languages. Only a public school, a public charter school as defined in section 2401, subsection 9 or a private school approved for tuition purposes that enrolls at least 60% publicly funded students, as determined by the previous school year's October and April average enrollment, is required to participate in the system of learning results set forth in this section and in department rules implementing this section and other curricular requirements. The commissioner shall develop accommodation provisions for instances where course content conflicts with sincerely held religious beliefs and practices of a student's parent or guardian. The system must be adapted to accommodate children with disabilities as defined in section 7001, subsection 1-B.
Sec. 2. 20-A MRSA §6209, sub-§2, ¶G, as enacted by PL 1995, c. 649, §1, is amended to read:
 
G. Social studies, including personal finance; and
Sec. 3. Rulemaking for personal finance standards. By January 1, 2018, the Department of Education shall adopt rules to include personal finance standards in the statewide system of learning results, pursuant to the Maine Revised Statutes, Title 20-A, section 6209. The standards must be aligned with the national standards for financial literacy developed by the Council for Economic Education.
 
SUMMARY
This bill requires the Department of Education to include in the statewide system of learning results personal finance standards that align with the national standards for financial literacy developed by the Council for Economic Education.