Minnesota YMCA Youth in Government
Model Legislature
Introduced by: Claire Larson
Delegation: Willmar
Legislative Body: Myers House
Committee: Economic Development
BILL #: 1010
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BE IT ENACTED BY THE YOUTH LEGISLATURE OF THE STATE OF MINNESOTA YOUTH LEGISLATURE –
An act to
Require all Minnesota high schools to provide a financial literacy course and require all students to complete the
course before graduation.
 
SECTION I - PURPOSE
Financial illiteracy is the source of most problems in Minnesota let alone America.
This will limit the amount of students who feel absolutely lost after high school financial wise.
 
SECTION II - JUSTIFICATION
When students leave high school and eventually go on their own, not knowing how to manage your money is dangerous.
Incorporating finance classes into a school curriculum will ensure that students have the basic knowledge of what to do
with money, how to save and grow their finances.
 
SECTION III - DEFINITIONS
Financial literacy means knowing how to earn, save, spend, and invest money wisely.
 
SECTION IV - FUNDING
The funding will come from the General Education Aid Fund. The bill would require about 1-3 million annually. That
number is less than 0.02% of the state's budget. It funds teacher trainings, materials, while keeping the cost for
taxpayers the same.
 
SECTION V – PENALTIES/ENFORCEMENT
Schools that do not do this will not get the money for this program.
 
SECTION VI – EFFECTIVE DATE
This law will take effect in July 2027.