MISSISSIPPI LEGISLATURE
2023 Regular Session
To: Education
By: Representatives Taylor, Hulum, Osborne, Sanders
AN ACT TO REQUIRE THAT THE STATE DEPARTMENT OF EDUCATION DEVELOP A FINANCIAL CREDIT COUNSELING CURRICULUM FOR USE BY EACH SCHOOL DISTRICT; TO REQUIRE THAT THE DEPARTMENT WORK WITH NONPROFIT CREDIT UNIONS WHO ARE INTERESTED IN COMMUNITY SERVICE OPPORTUNITIES; TO REQUIRE THAT THE CURRICULUM BE TAUGHT AS AN ELECTIVE CLASS THAT IS REQUIRED FOR GRADUATION; TO REQUIRE THAT THE CURRICULUM INCLUDE INSTRUCTION IN CHECK WRITING, UNDERSTANDING FICO SCORES, WHAT QUALIFIES AS GOOD AND BAD CREDIT, COMPOUNDING INTEREST AND OTHER FINANCIAL COMPONENTS DEALING WITH INVESTMENTS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The State Board of Education shall develop a financial credit counseling curriculum for use by each school district in the state. The State Department of Education shall work with nonprofit credit unions that have information regarding credit counseling, and that are interested in community service opportunities. The curriculum shall be taught as an elective class that is required for graduation, and must include instruction in the following:
(a) Check writing;
(b) Understanding FICO scores, and what qualifies as good credit and bad credit;
(c) Compounding interest; and
(d) Other financial components dealing with investments.
SECTION 2. This act shall take effect and be in force from and after July 1, 2023.