Substitute Senate Bill Number 1 Summary

• Creates a high school financial literacy fund administered by the superintendent of public instruction, funded by appropriations, interest earnings, donations, and grants to support financial literacy instruction and related costs.

• Requires students entering ninth grade on or after July 1, 2022 to complete one-half unit of financial literacy instruction as a graduation requirement, which can satisfy either a mathematics or elective credit.

• Beginning with the 2024-2025 school year, teachers providing financial literacy instruction must obtain an educator license validation in financial literacy, except those already holding valid licenses in social studies, family and consumer sciences, or business education.

• Authorizes districts and schools to seek reimbursement up to $500 per teacher for costs of obtaining the financial literacy license validation through the high school financial literacy fund.

• Permits school governing bodies to employ substitute teachers without post-secondary degrees during the 2021-2022 school year only, provided they meet the district's educational requirements, demonstrate good moral character, and pass a criminal records check.