NY A04605

Establishes a State Financial Literacy Fund jointly managed by the State Comptroller, Attorney General, and Commissioner of Taxation and Finance, funded by court collections from insurance law Article 24 and other appropriated moneys.

Requires the Attorney General to transfer up to $1 million annually from the fund beginning April 1, 2025 to provide project grants to eligible organizations (state agencies, authorities, and 501(c)(3) nonprofits) for financial literacy and capability programs.

Grants may fund free financial education content, individualized financial coaching, financial products/services, and classroom-based programs for unbanked and underbanked consumers, with focus on credit establishment, savings, debt reduction, and youth financial education.

Requires grant recipients to include evaluation components measuring consumer impact, submit annual reports to the Attorney General detailing fund allocation and results, and face ineligibility for subsequent funding if reports are not submitted.

Mandates school districts incorporate financial literacy instruction into social studies curriculum for kindergarten through grade 8 and authorizes the Commissioner to require a financial literacy course for high school graduation.