Full Text of SR0311 102nd General Assembly
SR0311 102ND GENERAL ASSEMBLY |
| | SR0311 | | LRB102 18568 MST 26857 r |
|
| 1 | | SENATE RESOLUTION
| 2 | | WHEREAS, All young adults who graduate from a public | 3 | | secondary or postsecondary school in this State should be able | 4 | | to: (1) demonstrate competence in managing their finances, (2) | 5 | | identify and avoid fraud, predatory financial practices, and | 6 | | identity theft, (3) navigate the terminology associated with | 7 | | on-boarding documents, including, but not limited to, tax | 8 | | documents, life insurance policies, health insurance plans, | 9 | | and retirement plan options, (4) understand the lending | 10 | | process and the importance of strong credit, (5) understand | 11 | | the basics of investing in the stock market, and (6) display an | 12 | | awareness of the cost and benefits of credit and compounding | 13 | | interest; therefore, be it
| 14 | | RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL | 15 | | ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Bank on | 16 | | Commission, housed in the Illinois Comptroller's Office, to | 17 | | develop recommendations for improving the financial capability | 18 | | of students enrolled in Illinois' public colleges and | 19 | | universities; and be it further | 20 | | RESOLVED, That the Bank on Commission leadership is urged | 21 | | to select at least one member of the commission to lead a task | 22 | | force charged with identifying recommendations to improve the | 23 | | financial literacy outcomes of students enrolled in two and |
| | | SR0311 | - 2 - | LRB102 18568 MST 26857 r |
|
| 1 | | four year public colleges and universities in Illinois; and be | 2 | | it further | 3 | | RESOLVED, That the task force should be composed of young | 4 | | adults, financial institutions, community-based | 5 | | organizations, practitioners, teachers, and professors who are | 6 | | encouraged to serve in an advisory capacity to the commission | 7 | | and may or may not be part of the larger Bank on Commission; | 8 | | and be it further | 9 | | RESOLVED, That relevant state agencies, including the | 10 | | Illinois Board of Higher Education, the Illinois Student | 11 | | Assistance Commission, the Illinois State Board of Education, | 12 | | and the State Treasurer's Office, should fully cooperate in | 13 | | submitting needed information for the aforementioned task | 14 | | force to develop thorough, well-informed recommendations; and | 15 | | be it further
| 16 | | RESOLVED, That we urge the task force to complete its work | 17 | | and submit its recommendations to the Governor's Office and | 18 | | the General Assembly no later than December 31, 2022.
|
|