2007 Legislation
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HOUSE CONCURRENT RESOLUTION NO. 10 – Public schools/basic persnl finance


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Bill Status

HCR010.........................................................by EDUCATION
PUBLIC SCHOOLS - PERSONAL FINANCE - Stating findings of the Legislature and
urging the State Board of Education to integrate the principles of basic
personal finance into the public school curricula in Idaho.
02/07    House intro - 1st rdg - to printing
02/08    Rpt prt - to Educ
02/15    Rpt out - rec d/p - to 2nd rdg
02/16    2nd rdg - to 3rd rdg
02/19    3rd rdg - ADOPTED - 69-0-1
      AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
      Block, Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew,
      Clark, Collins, Crane, Durst, Edmunson, Eskridge, Hagedorn, Hart,
      Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador,
      Lake, LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin,
      Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence,
      Raybould, Ring, Ringo, Ruchti, Rusche, Sayler, Schaefer, Shepherd(2),
      Shepherd(8), Shirley, Shively, Smith(30), Smith(24), Snodgrass,
      Stevenson, Thayn, Trail, Vander Woude, Wills, Wood(27), Wood(35), Mr.
      NAYS -- None
      Absent and excused -- Roberts
    Floor Sponsor - Chadderdon
    Title apvd - To Senate
02/20    Senate intro - 1st rdg - to Educ
02/28    Rpt out - rec d/p - to 10th Ord
03/02    10th Ord - ADOPTED - voice vote
    Floor Sponsor - Goedde
    Title apvd - to House
03/05    To enrol
03/06    Rpt enrol - Sp signed
03/07    Pres signed
03/08    To Secretary of State

Bill Text

  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                   First Regular Session - 2007
                              IN THE HOUSE OF REPRESENTATIVES
                             HOUSE CONCURRENT RESOLUTION NO. 10
                                   BY EDUCATION COMMITTEE
  1                               A CONCURRENT RESOLUTION
  5    Be It Resolved by the Legislature of the State of Idaho:
  6        WHEREAS,  basic personal financial management, including the principles of
  7    saving, spending, credit, investment, taxes and  insurance,  is  an  essential
  8    life skill necessary to the well-being of all Idahoans; and
  9        WHEREAS, personal financial education is essential to ensure that individ-
 10    uals  are  prepared to become responsible workers, heads of households, inves-
 11    tors, entrepreneurs, business leaders and citizens; and
 12        WHEREAS, financial education has been linked to  lower  delinquency  rates
 13    for mortgage borrowers, higher participation and contribution rates in retire-
 14    ment  plans,  improved  spending and saving habits, higher net worth, positive
 15    attitudes and behavior changes; and
 16        WHEREAS, the personal  financial  responsibility  and  well-being  of  the
 17    emerging  generation will be essential to the overall health and well-being of
 18    Idaho's future economic and social condition; and
 19        WHEREAS, a survey published in March 2005 by the National Council on  Eco-
 20    nomic Education showed that each year young Americans spend approximately $150
 21    billion,  yet  they do not have a strong understanding of basic financial con-
 22    cepts such as annual percentage rates, inflation and interest; and
 23        WHEREAS, according to a survey on personal financial literacy administered
 24    in 2005-2006 by the Jump$tart Coalition for Personal Financial Literacy,  high
 25    school seniors answered just more than fifty percent of the financial literacy
 26    questions correctly; and
 27        WHEREAS,  nonprofit organizations, corporations and the federal government
 28    have played a role in developing materials and curricula for use by educators.
 29        NOW, THEREFORE, BE IT RESOLVED by the members of the First Regular Session
 30    of the Fifty-ninth Idaho Legislature, the House  of  Representatives  and  the
 31    Senate concurring therein, that we recognize the importance of basic financial
 32    education  and  business-oriented  educational  programs for all our citizens,
 33    especially our youth, and urge the State Board of  Education,  in  cooperation
 34    with school administrators, teachers, parents, business leaders, and concerned
 35    citizens to immediately begin:
 36        (1)  Exploring  ways to include in the public school curricula a financial
 37    literacy program that includes such topics as budgeting,  consumer  economics,
 38    insurance,  saving,  money  management, investing principles, managing credit,
 39    monetary policy, financial planning, retirement savings,  consumer  loans  and
 40    mortgages; and
 41        (2)  Reviewing existing financial literacy programs and materials that are
 42    available,  with  the  aim  of  formalizing personal financial management as a
 43    requirement for graduation.

Statement of Purpose / Fiscal Impact

                       STATEMENT OF PURPOSE

                             RS 16906

This resolution encourages the Idaho Department of Education to
explore and review ways to integrate the Principles of Basic
Personal Finance into the Idaho Public School Curriculum and
submit a report to the Idaho Legislature.

                           FISCAL NOTE

Costs should be minimal. 

Name:  Representative Chadderdon 
Phone: 332-1000 
Representative Nonini
Senator Goedde

STATEMENT OF PURPOSE/FISCAL NOTE                        HCR 10