LD 184 LR 599(01)
An Act To Promote the Financial Literacy of High School Students
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Chipman of Portland
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
State Mandate - Unfunded
FY 2011-12 FY 2012-13 Projections  FY 2013-14 Projections  FY 2014-15
Net Cost (Savings)
General Fund $15,000 $0 $0 $0
General Fund $15,000 $0 $0 $0
State Mandates
Required Activity Unit Affected Local Cost
Requires secondary schools to add a personal finance course as part of the mathematics instruction required in order to obtain a high school diploma. School Significant statewide
The required local activities in this bill may represent a State mandate pursuant to the Constitution of Maine.  Unless General Fund appropriations are provided to fund at least 90% of the additional costs or a Mandate Preamble is amended to the bill and two-thirds of the members of each House vote to exempt this mandate from the funding requirement, municipalities may not be required to implement these changes.
Fiscal Detail and Notes
The PK-20 Curriculum, Instruction and Assessment program within the Department of Education will require a one-time General Fund appropriation of $15,000 in fiscal year 2011-12 for the costs associated with developing a course on personal finance.