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SR 27

A resolution to designate April 2025 as Financial Literacy Month.

2025-2026 Regular Session Introduced by Sarah Anthony and 13 co-sponsors

Designates April 2025 as Michigan Financial Literacy Month to raise awareness of personal finances and encourage schools, libraries, businesses, and government programs.

ADOPTED
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Bill Summary · SR 27

Summary — SR 27 (Michigan Senate Resolution)

Title: A resolution to designate April 2025 as Financial Literacy Month
Status: Adopted by the Michigan Senate (Adopted April 16, 2025; enrolled and filed)

Purpose and intent

SR 27 formally designates April 2025 as "Financial Literacy Month" in Michigan. The resolution seeks to raise public awareness of the importance of personal financial education, recognize the role of financial institutions and community partners in delivering financial education, and encourage parents, schools, businesses, libraries, community groups, and units of government to observe the month with appropriate programs and activities.

Key provisions

  • Officially designates April 2025 as Financial Literacy Month in Michigan.
  • Calls for raising public awareness about the importance of personal financial education to address problems tied to mismanagement of personal finances.
  • Encourages participation by parents, schools, businesses, financial institutions, community organizations, and government units in observing the month with programs and activities.
  • Highlights Michigan’s 2022 enactment (Public Act 105 of 2022) establishing a stand‑alone financial literacy course requirement for high school graduates.
  • Cites data (2022 National Foundation for Credit Counseling survey): 13% of Americans have difficulty paying a monthly bill and 11% missed at least one credit card or loan payment in the prior year.
  • Recognizes the coordinated work of banks, credit unions, schools, nonprofits, government entities, and libraries in delivering financial literacy programming.

Who is affected

  • Primary targets are students, educators, families, financial institutions, nonprofits, libraries, and state/local government entities that provide, support, or partner on financial education.
  • The resolution is ceremonial and advisory; it does not create new programs, mandates, or funding.

Procedural timeline and status

  • Introduced by Senator Mary Cavanagh (resolution offered by Senators Cavanagh, Anthony, Bayer, Chang, Cherry, Damoose, Geiss, Irwin, Klinefelt, McCann, McMorrow, Santana, Shink, Wojno).
  • Adopted by the Michigan Senate on April 16, 2025; enrolled and filed with the Secretary of State the same day.
  • Classified as a Senate resolution (non-binding, commemorative/advisory instrument).

Impact and limitations

  • Expected impact: increased visibility for financial education efforts, encouragement of local programming, and reinforcement of existing statutory emphasis on financial education (e.g., PA 105 of 2022).
  • Limitations: SR 27 is symbolic and does not appropriate funds, create enforceable obligations, or alter statute. Any substantive expansion of financial‑education programs or funding would require separate legislative or administrative action.

Compiled from official sources — confirm details with the bill’s official record.

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