No. 32980 (Amendment): Section R277-704-3. Financial and Economic Literacy Student Passport

(Amendment)

DAR File No.: 32980
Filed: 09/15/2009 05:44:58 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

Section R277-704-3 is amended to include language from S.B. 100, 2009 Legislative Session requiring that public schools provide parents/guardians and students with a financial and economic literacy passport and information about post-secondary education savings options during kindergarten enrollment. (DAR NOTE: S.B. 100 (2009) is found at Chapter 95, Laws of Utah 2009, and was effective 07/01/2009.)

Summary of the rule or change:

The amended rule provides additional language in Section R277-704-3 regarding the financial and economic literacy passport and about post-secondary education savings options.

State statutory or constitutional authorization for this rule:

• Section 53A-13-110
• Subsection 53A-1-401(3)

Anticipated cost or savings to:

the state budget:

There are no anticipated costs or savings to the state budget. New requirements requiring Utah State Office of Education responsibilities will be covered by existing staff within existing budget.

local governments:

There are no anticipated costs or savings to local government. Financial and economic litercy passports have been required. New requirements are nominal and costs, if any, will be covered by existing public school staff within existing budget.

small businesses:

There are no anticipated costs or savings to small businesses. This rule and amendment apply to public schools and not to businesses.

persons other than small businesses, businesses, or local governmental entities:

There are no anticipated costs or savings to persons other than small businesses, businesses, or local government entities. Financial and economic literacy passports and information about post-secondary education savings will be provided to parents/guardians and students during kindergarten enrollment at no cost to parents/guardians and students.

Compliance costs for affected persons:

There are no compliance costs for affected persons. Costs for public schools to provide financial and economic literacy student passports and information about post-secondary education savings options during kindergarten enrollment is nominal.

Comments by the department head on the fiscal impact the rule may have on businesses:

I have reviewed this rule and I see no fiscal impact on businesses.

Larry K. Shumway, State Superintendent

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Education
Administration
250 E 500 S
SALT LAKE CITY, UT 84111-3272

Direct questions regarding this rule to:

• Carol Lear at the above address, by phone at 801-538-7835, by FAX at 801-538-7768, or by Internet E-mail at [e-mail]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

11/02/2009

This rule may become effective on:

11/09/2009

Authorized by:

Carol Lear, Director, School Law and Legislation

RULE TEXT

R277. Education, Administration.

R277-704. Financial and Economic Literacy: Integration into Core Curriculum and Financial and Economic Literacy Student Passports.

R277-704-3. Financial and Economic Literacy Student Passport.

A. The Board and the USOE shall develop and promote a financial and economic literacy student passport model, which would include tracking of student progress toward a passport.

B. Early efforts will focus on students in grades nine through 12.

C. Development efforts will include parent and community participation.

D. A major goal of the development and promotion of a financial and economic literacy student passport will be to inform and educate students and their parents throughout the public school experience of the importance of financial and economic literacy and its applicability to all areas of the public school curriculum.

E. [Students and parents shall receive]Public schools shall provide parents/guardians and students with the following:

(1) during kindergarten enrollment, a financial and economic literacy passport and information about post-secondary education savings options; and

(2) information and encouragement toward the financial and economic literacy student passport opportunity upon development as part of the SEOP process.

KEY: financial, economics, literacy

Date of Enactment or Last Substantive Amendment: [ November 10, 2008 ] 2009

Authorizing, and Implemented or Interpreted Law: Art X Sec 3; 53A-13-110; 53A-1-401(3)

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