Governor Signs Financial Literacy Bill

March 29, 2005 — Promoting the financial literacy of all Virginians is the hallmark of the VSCPA's Financial Fitness initiative, and the Society pledged support to Virginia Senate legislation that would require Virginia's public middle and high schools, as well as higher education public institutions, to provide instruction in economics education and financial literacy (SB 950). The bill was signed by Gov. Mark Warner on March 26.

By July 1, 2006, the Virginia Board of Education is required to develop and approve objectives for a course of instruction in economics and financial literacy in grades six through 12. The principles of the American economic system and financial literacy must to be systematically infused in the Standards of Learning for Mathematics and History, and in career and technical education programs.

The legislation, however, does not include a requirement for the Standards of Learning assessments to include the objectives.

If you have questions about important legislation or the Society's positions on key legislative issues, contact VSCPA Government Affairs Director Erin Collins at (800) 733-8272. Questions or comments about Financial Fitness can be directed to VSCPA Communications Director Tina Lambert.