An Act Regarding Measures To Ensure Students Can Demonstrate Proficiency in Financial Literacy
Maine Legislature, Session 127, LD 0417
Committee Amendment CA_A_H50 (House)
Amends: 20-A MRSA §254

COMMITTEE AMENDMENT" A" to H.P. 284, L.D. 417, Bill, "An Act 
Regarding Measures To Ensure Students Can Demonstrate Proficiency in Financial 
Literacy" 
Amend the bill by striking out the title and substituting the following: 
'An Act Regarding Measures To Ensure Support for Students' Financial Literacy' 
Amend the bill by striking out everything after the enacting clause and before the 
summary and inserting the following: 
'Sec. 1. 20-A MRSA §254, sub-§13, as enacted by PL 2011, c. 154, §1, is 
amended 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. The commissioner 
shall identify best practices to support students' financial literacy for those school 
administrative units that elect to offer financial literacy education pursuant to this 
subsection. 
COMMITTEE AMENDMENT 
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COMMITTEE AMENDMENT 'A " 
to H.P. 284, L.D. 417 
Sec. 2. Report. The Commissioner of Education shall submit the 2016 annual 
report required under the Maine Revised Statutes, Title 20-A, section 254, subsection 13 
to the Joint Standing Committee on Education and Cultural Affairs by January 13, 2016. 
The report must include the findings of the interagency collaboration review, including 
the strategies and resources available to implement an integrated model for instruction in 
personal finance for use in secondary schools and the best practices available to support 
students' financial literacy.' 
SUMMARY 
This amendment strikes and replaces the bill to direct the Commissioner of Education 
to identify best practices to support students' financial literacy for those students taking 
part in financial literacy education pursuant to the Maine Revised Statutes, Title 20-A, 
section 254, subsection 13. The amendment also requires the Commissioner of Education 
to submit, by January 13, 2016, the 2016 annual report on the strategies and resources 
available to implement an integrated mod(:l for instruction in personal finance for use in 
secondary schools and the best practices available to support students' financial literacy. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 04/04/15 
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LD417 
LR 883(02) 
An Act Regarding Measures To Ensure Students Can Demonstrate Proficiency in Financial Literacy 
Fiscal Note for Bill as Amended by Committee Amendment if{}I- SO) 
Committee: Education and Cultural Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - General Fund 
Fiscal Detail and Notes 
Additional costs to the Department of Education to implement the requirements of this legislation can be absorbed 
within existing budgeted resources. 
LR0883(02) - Fiscal Note - Page 1 of 1