Legislation requiring high school students to take a financial literacy and management class advanced in the Senate Friday.
SB 1054, sponsored by Sen. Travis Hutson, passed with unanimous bipartisan support. The outcome was expected, as the bill passed its two previous committee stops unanimously and had 35 co-sponsors from both parties.
The bill requires all students to take a half-credit financial literacy class before graduating, starting with students who begin high school in the 2023-24 school year. The class will teach students about banking practices, money management, credit scores, managing debt, loan applications, insurance policies and local tax assessments. The legislation moved through the committee process with little discussion or comment from committee members.
The legislation is entitled “the Dorothy L. Hukill Financial Literacy Act”, named after former Sen. Dorothy Hukill, who died in October 2018. Hutson said she had advocated for making a financial literacy class requirement during her time in the Legislature.
“This gets it permanent, fulfilling her legacy, and I am proud to champion this bill,” Hutson said.
HB 1115, the bill’s companion sponsored by Rep. Demi Busatta Cabrera, also passed its committees unanimously. It is waiting to be voted on by the House.
If the House version passes, the bill will head to Gov. Ron DeSantis’ desk.