IL HB2594

Requires students entering 9th grade in the 2028-2029 school year and after to complete a stand-alone, one-semester personal finance course in grade 11 or 12 as a graduation requirement, replacing the previous option to include financial literacy as part of social studies

Mandates course coverage of behavioral economics, banking, investing, credit types and management, credit scores, paying for college, insurance, taxes, budgeting, consumer skills, retirement planning, home ownership and financing, and personal transportation

Establishes a Financial Literacy Implementation Committee by June 30, 2025, comprising state education officials, a State Treasurer appointee, and Governor-appointed representatives from organized labor, school districts, and other stakeholders to advise on course implementation

Requires the State Board of Education to devise or approve personal finance education standards, develop implementation guidelines, and report quarterly to the Committee on curriculum development, stakeholder engagement, and resource allocation

The Implementation Committee will serve until July 1, 2028 and then dissolve; curriculum standards may be reviewed and updated every 5 years