H 3199  General Bill, By Govan, Clyburn, Gilliard and Garvin

Similar(H 3196)
 A BILL TO AMEND SECTION 59-29-410, CODE OF LAWS OF SOUTH CAROLINA, 1976,
 RELATING TO INSTRUCTIONAL TOPICS REQUIRED IN HIGH SCHOOL FINANCIAL LITERACY
 PROGRAMS, SO AS TO ALSO REQUIRE INSTRUCTION ON THE TOPICS OF COLLEGE AND
 EDUCATION LOANS, KEY LOAN TERMS, MONTHLY PAYMENT OBLIGATIONS, REPAYMENT
 OPTIONS, CREDIT, AND EDUCATION LOAN DEBT.
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   12/18/18  House  Prefiled
   12/18/18  House  Referred to Committee on Education and Public Works
   01/08/19  House  Introduced and read first time (House Journal-page 125)
   01/08/19  House  Referred to Committee on Education and Public
                     Works (House Journal-page 125)
   01/15/20  House  Committee report: Favorable with amendment
                     Education and Public Works (House Journal-page 2)
   01/21/20  House  Member(s) request name added as sponsor:
                     Gilliard, Garvin
   01/21/20  House  Amended (House Journal-page 18)
   01/21/20  House  Read second time (House Journal-page 18)
   01/21/20  House  Roll call Yeas-102  Nays-10 (House Journal-page 19)
   01/22/20         Scrivener's error corrected
   01/22/20  House  Read third time and sent to Senate
                     (House Journal-page 11)
   01/23/20  Senate Introduced and read first time (Senate Journal-page 7)
   01/23/20  Senate Referred to Committee on Education
                     (Senate Journal-page 7)

Indicates Matter Stricken

Indicates New Matter

AMENDED

January 21, 2020

H. 3199

S. Printed 1/21/20--H.    [SEC 1/22/20 10:54 AM]

Read the first time January 8, 2019.

TO AMEND SECTION 59-29-410, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSTRUCTIONAL TOPICS REQUIRED IN HIGH SCHOOL FINANCIAL LITERACY PROGRAMS, SO AS TO ALSO REQUIRE INSTRUCTION ON THE TOPICS OF COLLEGE AND EDUCATION LOANS, KEY LOAN TERMS, MONTHLY PAYMENT OBLIGATIONS, REPAYMENT OPTIONS, CREDIT, AND EDUCATION LOAN DEBT.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 59-29-410(B) of the 1976 Code is amended to read:

"(B)    The financial literacy program shall include, but not be limited to, instruction in the following areas:

(1)        opening a deposit account and assessing the quality of a depository institution's services;

(2)        balancing a check book;

(3)        spending, credit, credit scoring, and managing debt, including retail and credit card debt;

(4)        completing a loan application;

(5)        the implications of an inheritance;

(6)        the basic principles of personal insurance policies;

(7)        computing state and federal income taxes;

(8)        local tax assessments;

(9)        computing interest rates by various mechanisms;

(10)        understanding simple contracts;

(11)        contesting an incorrect billing statement;

(12)        savings and investing; and

(13)        state and federal laws concerning finance; and

(14)        college and education loans, key loan terms, monthly payment obligations, repayment options, credit, and education loan debt. The provisions of this item are applicable with the adoption of the next revisions to the social studies academic standards adopted by the State Board of Education. The State Board of Education shall integrate the requirements of this item in those revisions."

SECTION    2.    This act takes effect upon approval by the Governor.