PCS for HB 1261 (2025): An act relating to personal financial literacy
Summary
PCS for HB 1261 2025 is a bill to be entitled an act relating to personal financial literacy, and Section 1 gives it the short title "Smart Living Act." Section 2 amends section 1003.4282 of the Florida Statutes on the one-half credit in personal financial literacy and money management for students entering grade 9 in the 2023-2024 school year. The listed instruction covers bank accounts, writing a check, personal budgets, credit scores, loan applications, the home-buying process, federal income taxes, simple contracts, and completing the Free Application for Federal Student Aid. Section 3 provides that the act takes effect July 1, 2025.
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“PCS for HB 1261 (2025): An act relating to personal financial literacy.”
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
PCS for HB 1261 2025
1 A bill to be entitled
2 An act relating to personal financial literacy;
3 providing a short title; amending s. 1003.4282, F.S.;
4 revising the requirements for the one-half credit in
5 personal financial literacy to include specified
6 instruction; providing an effective date.
7
8 Be It Enacted by the Legislature of the State of Florida:
9
10 Section 1. This act may be cited as the "Smart Living
11 Act."
12 Section 2. Paragraph (h) of subsection (3) of section
13 1003.4282, Florida Statutes, is amended to read:
14 1003.4282 Requirements for a standard high school
15 diploma.—
16 (3) STANDARD HIGH SCHOOL DIPLOMA; COURSE AND ASSESSMENT
17 REQUIREMENTS.—
18 (h) One-half credit in personal financial literacy.—
19 Beginning with students entering grade 9 in the 2023-2024 school
20 year, each student must earn one-half credit in personal
21 financial literacy and money management. This instruction must
22 include discussion of or instruction in all of the following:
23 1. Types of bank accounts offered, opening and managing a
24 bank account, and assessing the quality of a depository
25 institution's services.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
PCS for HB 1261 2025
26 2. How to write a check, including signing such check in
27 cursive writing and balancing a checkbook.
28 3. Basic principles of money management, such as how to
29 create a personal budget, spending, how personal credit works,
30 including using a credit card, credit scores, and managing debt,
31 including retail and credit card debt.
32 4. Completing a loan application for different types of
33 loans.
34 5. The home-buying process, including residential property
35 insurance.
36 6.5. Receiving an inheritance and related implications.
37 7.6. Basic principles of personal insurance policies.
38 8.7. Computing federal income taxes and how to file a tax
39 return.
40 9.8. Local tax assessments.
41 10.9. Computing interest rates by various mechanisms.
42 11.10. Simple contracts.
43 12.11. Contesting an incorrect billing statement.
44 13.12. Types of savings and investments.
45 14.13. State and federal laws concerning finance.
46 15. Personal future planning, including, but not limited
47 to, all of the following:
48 a. Career readiness, such as exploration of one's own
49 personality and passions.
50 b. Postgraduation paths, such as college, trade school,
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51 and full-time employment.
52 c. Creating a resume.
53 d. Applying for scholarships.
54 16. Critical thinking and decisionmaking.
55 17. Practical knowledge for situations an adult may find
56 himself or herself in, such as changing a car tire or performing
57 home maintenance.
58 18. How to complete the Free Application for Federal
59 Student Aid (FAFSA), including the need to create a Federal
60 Student ID, documents and information required to complete the
61 FAFSA, and how to interpret a FAFSA submission summary and a
62 financial aid offer.
63 Section 3. This act shall take effect July 1, 2025.
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