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                                                                  S.B. No. 851




AN ACT

relating to a financial literacy pilot program in public schools.             
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter Z, Chapter 29, Education Code, is 
amended by adding Section 29.915 to read as follows:
	Sec. 29.915.  FINANCIAL LITERACY PILOT PROGRAM.  (a)  In 
this section, "program" means the financial literacy pilot program.
	(b)  To the extent funding is available under Subsection (e), 
the agency by rule shall establish and implement a financial 
literacy pilot program to provide students in participating school 
districts with the knowledge and skills necessary as 
self-supporting adults to make critical decisions relating to 
personal financial matters.
	(c)  The agency shall collaborate with the Office of Consumer 
Credit Commissioner and the State Securities Board to develop the 
curriculum and instructional materials for the program.  The 
curriculum and instructional materials must include information 
about:
		(1)  avoiding and eliminating credit card debt;                        
		(2)  understanding the rights and responsibilities of 
renting or buying a home;
		(3)  managing money to make the transition from renting 
a home to home ownership;
		(4)  starting a small business;                                        
		(5)  being a prudent investor in the stock market and 
using other investment options;
		(6)  beginning a savings program;                                      
		(7)  bankruptcy;                                                       
		(8)  the types of bank accounts available to consumers 
and the benefits of maintaining a bank account;
		(9)  balancing a check book; and                                       
		(10)  the types of loans available to consumers and 
becoming a low-risk borrower.
	(d)  The agency shall develop an application and selection 
process for selecting school districts to participate in the 
program.  The agency may select not more than 25 school districts to 
participate in the program.
	(e)  The agency may solicit and accept a gift, grant, or 
donation from any source, including a foundation, private entity, 
governmental entity, or institution of higher education, for the 
implementation of the program.  The program may be implemented only 
if sufficient funds are available under this subsection for that 
purpose.
	(f)  Not later than January 1, 2007, the agency shall provide 
each member of the legislature with a report relating to the 
implementation and effectiveness of the program.  This subsection 
expires February 1, 2007.
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.





______________________________    ______________________________
President of the Senate             Speaker of the House
	I hereby certify that S.B. No. 851 passed the Senate on 
April 6, 2005, by the following vote:  Yeas 30, Nays 0; and that 
the Senate concurred in House amendments on May 27, 2005, by the 
following vote:  Yeas 29, Nays 0.




______________________________ 
   Secretary of the Senate             
	I hereby certify that S.B. No. 851 passed the House, with 
amendments, on May 25, 2005, by the following vote:  Yeas 143, 
Nays 0, two present not voting.




______________________________ 
   Chief Clerk of the House            



Approved:


______________________________ 
            Date



______________________________ 
          Governor