An Act To Promote the Financial Literacy of High School Students
Maine Legislature, Session 125, LD 0184
Committee Amendment CA_A_H206 (House)
Committee: Education and Cultural Affairs

COMMITTEE AMENDMENT "j)" to H.P. 161, L.D. 184, Bill, "An Act To 
Promote the Financial Literacy of High School Students" 
Amend the bill by striking out everything after the enacting clause and before the 
summary and inserting the following: 
'Sec. 1. 20-A MRS A §254, sub-§13 is enacted to read: 
13. Technical assistance; integrated model for instruction in personal finance. 
The commissioner shall develop a program of technical assistance that promotes the 
importance of financial literacy and encourages school administrative units to implement 
an integrated model for instruction in personal finance that may be used in secondary 
schools as part of the instruction in social studies or mathematics required by section 
4722, subsection 2, paragraphs Band C. The commissioner, in consultation with the 
Finance Authority of Maine, the Office of Securities within the Department of 
Professional and Financial Regulation, Jobs for Maine's Graduates, organizations 
representing banks, credit unions and financial professionals and other interested 
organizations promoting personal finance initiatives, shall prepare and distribute 
annually, in January, a report to school boards and superintendents that includes strategies 
and resources available to implement an integrated model for instruction in personal 
finance for use in secondary schools. The annual report must also be provided to the joint 
standing committee of the Legislature having jurisdiction over education matters, and the 
department shall post the report on its publicly accessible website.' 
SUMMARY 
This amendment is the majority report of the Joint Standing Committee on Education 
and Cultural Affairs. The amendment replaces the bill and requires the Commissioner of 
Education to develop a program of technical assistance that promotes an integrated model 
for instruction in personal finance to help secondary school students attain financial 
literacy. The amendment requires the commissioner to submit an annual report to school 
boards and superintendents that includes strategies and resources available to implement 
an integrated model for instruction in personal finance for use in secondary schools. The 
Page I - 12SLROS99(02)-1 
COMMITTEE AMENDMENT 
COMMITIEEAMENDMENT"~"tOH.P.161'L.D.184 
amendment also requires the annual report to be provided to the joint standing committee 
of the Legislature having jurisdiction over education matters and posted on the 
Department of Education's publicly accessible website. 
FISCAL ::\OTE REQURED 
{See attached) 
COMMITTEE AMENDMENT 
Fiscal Detail and Notes 
Approved: 05/03111 
;t/;Yac:.. 
LD 184 
LR 599(02) 
An Act To Promote the Financial Literacy of High School Students 
Fiscal Note for Bill as Amended by Committee Amendment "/1,, 
Committee: Education and Cultural Affairs 
f1 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Other Special Revenue Funds 
Additional costs to the Department of Education to develop the required program and submit the required report can 
be absorbed within existing budgeted resources. 
Additional consultation costs for the Office of Securities in the Department of Professional and Financial Regulation 
and the Finance Authority of Maine are expected to be minor and can be absorbed within existing budgeted resources. 
LR0599(02) - Fiscal Note - Page 1 of I