STAND. COM. REP. NO. 719

Honolulu, Hawaii

, 2023

RE: H.B. No. 936

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Education, to which was referred H.B. No. 936 entitled:

"A BILL FOR AN ACT RELATING TO EDUCATION,"

begs leave to report as follows:

The purpose of this measure is to require the Department of Education to include the teaching of financial literacy in the personal transitional plan requirement for each student, beginning with the 2024-2025 school year.

Your Committee received testimony in support of this measure from the NGPF Mission 20230 Fund, Associated Students of the University of Hawai‘i, Maui Chamber of Commerce, and thirteen individuals. Your Committee received comments on this measure from the Department of Education and Board of Education.

Your Committee finds that financial education can empower students to plan for their futures; however, not all students are receiving the financial education needed to succeed later in their lives. Your Committee further finds that a lack of financial literacy can hinder an individual's ability to achieve financial prosperity and stability. This measure ensures the teaching of financial literacy in the existing personal transition plan course requirement in Department of Education schools thereby helping prepare students for financial independence through the development of fiscal responsibility and financial management skills.

Your Committee has amended this measure by:

(1) Clarifying that the Department of Education shall include financial literacy, rather than require the teaching of financial literacy, in the personal transition plan requirement for each student;

(2) Appropriating an unspecified amount for the establishment of a position dedicated to financial literacy within the Office of Curriculum and Instructional Design of the Department of Education;

(3) Changing its effective date to June 30, 3000; and

(4) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 936, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 936, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Education,

____________________________

JUSTIN H. WOODSON, Chair