MA S423

Mandates financial literacy instruction in all Massachusetts public schools as a required subject to promote understanding of personal finances and financial stability

Requires school districts, charter schools, approved private day/residential schools, and collaborative schools to incorporate financial literacy standards into existing curriculum areas including mathematics, history, social sciences, technology, and business

Specifies 12 required instructional topics: loans, interest accrual, credit card debt, online commerce, renting/buying a home, retirement planning, banking services, balancing a checkbook, state/federal taxes, charitable giving, evaluating financial media content, and planning for higher education

Authorizes the department to apply for federal, state, or other funding, including from the Economic Empowerment Trust Fund, to implement these requirements

Builds on similar legislation from the 2023-2024 session (Senate No. 328); sponsored by Senators Patrick M. O'Connor and Patricia D. Jehlen