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1998 SESSION

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SB 527 Standards of quality; basic skills, programs, etc.

Introduced by: Madison E. Marye | all patrons    ...    notes | add to my profiles

SUMMARY:

Standards of Quality; basic skills, programs, etc. Requires the Board of Education to include, in the Standards of Learning (SOL) for mathematics, objectives to cover the skills necessary to manage personal finances and to make sound financial decisions. By July 1, 1999, the Board must develop and approve objectives for mathematics, at the middle and high school level, for personal living and finances, which will focus on money management skills for individuals and families. The objectives will require instruction in those skills necessary to handle personal business and finances, and shall include, but need not be limited to, the following: opening a bank account and how to judge the quality of a bank's services; balancing a check book; completing a loan application; the implications of an inheritance; the basics of personal insurance policies; consumer rights and responsibilities; dealing with salesmen and merchants; debt management, including retail and credit card debt; state and federal tax computation; local tax assessments; computation of interest rates by various mechanisms; understanding simple contracts; and how to contest an incorrect bill. The personal living and finances objectives shall not be required to be included in the Board's Standards of Learning, and the Board shall not be required to evaluate student achievement concerning such objectives in the SOL Assessments.


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