IL HB5533

Requires students entering 9th grade starting in the 2029-2030 school year to complete one semester of stand-alone financial literacy as a graduation requirement, to be taken in grade 11 or 12.

Course curriculum must cover earning income, budgeting, saving and investing, credit management, consumer protection, insurance, taxes, banking services, major purchases, and higher education financing.

State Board of Education must establish a Financial Literacy Implementation Committee by June 30, 2027 to make recommendations on course implementation, with the committee dissolving by July 1, 2029.

Committee membership includes the State Superintendent of Education, representatives from organized labor, school districts, and insurance trade associations, with members appointed by the Governor requiring Senate confirmation.

School boards may establish special funds to receive public and private contributions for teacher training, financial literacy competitions, and educational materials related to financial literacy instruction.