Date	Chamber	Action
6/26/2006	Senate	Public Act . . . . . . . . . 94-0929

Statutes Amended In Order of Appearance

30 ILCS 105/5.663 new

105 ILCS 5/27-12.5 new

Synopsis As Introduced
Amends the School Code and the State Finance Act. Requires the State Board of Education to develop and adopt curricula, materials, and guidelines for school boards to use in implementing a program of instruction on financial literacy within courses currently offered in public high schools in this State. Lists subject areas that the program must include. Creates the Financial Literacy Fund as a special fund in the State treasury. Provides that all money in the fund shall be used by the State Board to award grants to school districts for certain financial literacy purposes. Allows a school board to establish a special fund, with moneys to be used for certain financial literacy purposes. Requires the State Board to incorporate the elements of the program into Illinois learning standards. Effective immediately.

Senate Floor Amendment No. 2

	Deletes reference to:
	105 ILCS 5/27-12.5 new

	Adds reference to:
	105 ILCS 5/27-12.1	from Ch. 122, par. 27-12.1

Deletes everything after the enacting clause. Amends the School Code and the State Finance Act. In a Section requiring consumer education to be taught, provides that the instruction must include an understanding of the basic concepts of financial literacy, including installment purchasing, budgeting, savings and investing, banking, understanding simple contracts, State and federal income taxes, personal insurance policies, and the comparison of prices (now, the instruction must include installment purchasing, budgeting, and the comparison of prices). Creates the Financial Literacy Fund as a special fund in the State treasury. Provides that all money in the fund shall be used by the State Board of Education to award grants to school districts for certain financial literacy purposes. Allows a school board to establish a special fund, with moneys to be used for certain financial literacy purposes. Urges the State Board, upon the next comprehensive review of the Illinois Learning Standards, to include the basic principles of personal insurance policies and understanding simple contracts. Effective immediately.

Actions 

Date	Chamber	Action
1/11/2006	Senate	Filed with Secretary by Sen. Jacqueline Y. Collins
1/11/2006	Senate	First Reading
1/11/2006	Senate	Referred to Rules
1/12/2006	Senate	Assigned to Education
1/31/2006	Senate	Added as Co-Sponsor Sen. Antonio Munoz
2/1/2006	Senate	Do Pass Education; 008-003-000
2/1/2006	Senate	Placed on Calendar Order of 2nd Reading February 2, 2006
2/7/2006	Senate	Second Reading
2/7/2006	Senate	Placed on Calendar Order of 3rd Reading February 8, 2006
2/21/2006	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
2/21/2006	Senate	Senate Floor Amendment No. 1 Referred to Rules
2/22/2006	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins
2/22/2006	Senate	Senate Floor Amendment No. 2 Referred to Rules
2/23/2006	Senate	Senate Floor Amendment No. 2 Rules Refers to Education
2/24/2006	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Education; 009-000-000
2/24/2006	Senate	Recalled to Second Reading
2/24/2006	Senate	Senate Floor Amendment No. 2 Adopted; Collins
2/24/2006	Senate	Placed on Calendar Order of 3rd Reading February 27, 2006
2/27/2006	Senate	Added as Chief Co-Sponsor Sen. Kwame Raoul
2/27/2006	Senate	Added as Co-Sponsor Sen. Deanna Demuzio
2/27/2006	Senate	Added as Chief Co-Sponsor Sen. Iris Y. Martinez
2/27/2006	Senate	Third Reading - Passed; 050-000-000
2/27/2006	Senate	Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
2/27/2006	House	Arrived in House
2/27/2006	House	Placed on Calendar Order of First Reading
2/28/2006	Senate	Added as Co-Sponsor Sen. James F. Clayborne, Jr.
2/28/2006	House	Chief House Sponsor Rep. Karen A. Yarbrough
2/28/2006	House	First Reading
2/28/2006	House	Referred to Rules Committee
3/8/2006	House	Assigned to Elementary & Secondary Education Committee
3/15/2006	House	Do Pass / Standard Debate Elementary & Secondary Education Committee; 011-010-000
3/15/2006	House	Placed on Calendar 2nd Reading - Standard Debate
3/15/2006	House	Added Alternate Chief Co-Sponsor Rep. Monique D. Davis
3/24/2006	House	Second Reading - Standard Debate
3/24/2006	House	Placed on Calendar Order of 3rd Reading - Standard Debate
3/29/2006	House	Added Alternate Chief Co-Sponsor Rep. Calvin L. Giles
3/29/2006	House	Added Alternate Chief Co-Sponsor Rep. Marlow H. Colvin
3/29/2006	House	Added Alternate Chief Co-Sponsor Rep. Arthur L. Turner
3/29/2006	House	Calendar Order of 3rd Reading - Standard Debate
3/29/2006	House	Motion Filed - Move to Previous Question Rep. Calvin L. Giles
3/29/2006	House	Motion Prevailed 062-051-000
3/29/2006	House	Added Alternate Co-Sponsor Rep. Cynthia Soto
3/29/2006	House	Added Alternate Co-Sponsor Rep. John A. Fritchey
3/29/2006	House	Added Alternate Co-Sponsor Rep. David E. Miller
3/29/2006	House	Third Reading - Standard Debate - Passed 063-051-000
3/29/2006	Senate	Passed Both Houses
4/5/2006	Senate	Added as Co-Sponsor Sen. Mattie Hunter
4/6/2006	Senate	Added as Co-Sponsor Sen. James T. Meeks
4/27/2006	Senate	Sent to the Governor
6/26/2006	Senate	Governor Approved
6/26/2006	Senate	Effective Date June 26, 2006
6/26/2006	Senate	Public Act . . . . . . . . . 94-0929

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