Vote Smart's Synopsis:

Vote to pass a bill that establishes financial literacy programs in Alaska public schools.

Highlights:

• Establishes financial literacy programs in Alaska public schools in grades 9-12 (Sec. 1).

• Requires the aforementioned financial literacy program include the following (Sec. 1):

• Different types of financial institutions and opening and managing an account with a financial institution;

• Making a budget;

• Basic principles of money management, including spending, credit, credit scores, and managing retail debt, credit card debt, and other types of debt;

• Basic principles of completing a loan application;

• Basic principles of personal insurance policies;

• Basic computation of federal income taxes;

• Avoiding fraud, financial deception, and predatory lending practices;

• Simple contracts;

• Contesting an incorrect billing statement;

• Computing interest rates by various mechanisms;

• Types of savings and investments;

• Basic principles of retirement accounts;

• Receiving an inheritance and related financial implications;

• Postsecondary financial aid and scholarships; and

• Financial implications of being a member or a beneficiary of a Native corporation.

• Specifies that the provisions of this bill shall become effective July 1, 2025 (Sec. 3).

Full Bill Text