California Gov. Jerry Brown Signs Financial Literacy Legislation

California Governor Jerry Brown signed a key financial literacy bill into law, which approved a requirement that the state Board of Education include lessons on financial education, including managing credit and effective budgeting.  The bill is AB 166, which had been introduced by California Assemblyman Roger Hernandez (D-West Corvina).

The legislation requires that  high school curricula would be required to include financial literacy instruction and, as California has not had an official state educational plan or policy regarding financial literacy education, the new requirements come at an important time.

When the bill had passed in the California Assembly, Hernandez said: “I applaud my colleagues vote for passing my bill AB 166 on the Senate Floor.  Year after year, we hear stories from educators from the lack of financial knowledge many of our students possess.  AB 166 corrects this issue by providing every student the tools and resources to become better prepared and financially sound for a debt free future,” said Hernandez.