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Senate bill requires state to create a personal money management program
February 16, 2005

State Senator Eliot Shapleigh, D-El Paso, filed a bill on Monday that orders several state agencies to develop a financial literacy education program for adults and children.

Written by Senator Eliot Shapleigh, Press Release

AUSTIN - State Senator Eliot Shapleigh, D-El Paso, filed a bill on Monday that orders several state agencies to develop a financial literacy education program for adults and children.

“In today’s world, every Texan needs to know how to best manage their money,” Shapleigh said. “Credit cards, car loans, even the stock market are a part of nearly every Texans’ life.”

Senate Bill 498 directs the Office of Consumer Credit Commissioner, the State Securities Board, and the Texas Education Agency to collaborate to establish a financial literacy program.

While the bill directs the creation of a financial literacy curriculum for both adults and children, the focus of the legislation is on the development of a curriculum for Texas' students, both public school students and students attending institutions of higher education. Moreover, the bill encourages each local public school district to incorporate the financial literacy education program into its regular curriculum for all grade levels.

If passed, S.B. 498 lays the foundation for making personal financial literacy an integrated component of the education of Texas' young people.

Since being elected in 1996, Senator Shapleigh has been working on the issue of access to capital doing research and culminating with him chairing the Business and Commerce Subcommittee on Lending Practices.

For more information please contact Katherine Saunders, 512-463-0129.

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