Legislation requiring high school students to take a financial literacy and management class was approved by the House Tuesday.
SB 1054, sponsored by Sen. Travis Hutson and Rep. Demi Busatta Cabrera, passed with unanimous bipartisan support. The outcome was expected, as the bill passed the Senate unanimously. It 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.
Before the vote, Cabrera said the legislation is aimed at helping all of Florida’s students regardless of their career goals.
“Whether our students are headed to one of our great colleges or universities, a valuable trade or apprenticeship program, the military or a career in the arts, every single one of them deserves to be equipped with education and information on how to succeed and thrive financially in our society,” she said.
The legislation is entitled “the Dorothy L. Hukill Financial Literacy Act”, named after former Sen. Dorothy Hukill, who died in October 2018. When the bill passed the Senate, Hutson said Hukill 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.
The legislation now needs approval from Gov. Ron DeSantis.