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Bill

S 3497

Extends provisions relating to the mortgage tax in the county of Yates

2025 Regular Session Introduced by Tom O'Mara

New Jersey must add a required high school financial literacy course with specified topics and qualified teachers, effective for 12th graders entering 2027-2028.

SIGNED CHAP.252
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Bill Summary · S 3497

Summary — S.3497 (Signed Chapter 252, 2025)

Status: Signed into law (Chap. 252, Aug. 7, 2025)
Introduced: June 26, 2024 — Sponsor(s): Senator Vin Gopal; Senator Angela V. McKnight; cosponsored by Senators Turner and Singleton.
Related/companion: A4764, A4069; prior-session S5612.

Purpose

Amend existing law (P.L.2018, c.167; C.18A:35-4.34) to expand and strengthen financial literacy requirements by adding a required high school course, clarifying curriculum scope, and setting teacher-endorsement expectations. The goal is to ensure students graduate with practical personal finance knowledge for sound financial decision-making.

Key provisions

  • Requires school districts to provide each high school student with a one-semester (or one-trimester, as applicable) course in financial literacy in addition to existing middle‑school instruction (grades 6–8).
  • Specifies required curriculum topics: budgeting, savings, credit, debt, insurance, investment, behavioral economics, banking, consumer skills, taxes, college financial planning, accounting, and other personal financial responsibility topics as set by the State Board of Education.
  • Clarifies that courses principally focused on economic, business, or entrepreneurial literacy do not satisfy the financial literacy requirement.
  • Teacher qualifications: financial literacy instruction must be delivered by teachers holding an appropriate endorsement, such as:
    • Business (Comprehensive Business)
    • Business (Finance, Economics, Law)
    • Family and Consumer Sciences
    • Social Studies
    • Middle School with Subject Matter Specialization, Social Studies (Grades 5–8)
  • State Board/Commissioner role: the State Board will set instructional requirements; the Commissioner of Education will provide sample instructional materials and resources.
  • For State‑endorsed diplomas: district boards of education must adopt local graduation requirements that include completion of the required financial literacy course.
  • Effective dates: the act takes effect immediately; the requirement to include the course as a local graduation requirement applies to students entering 12th grade in the 2027–2028 school year.

Who is affected

  • Public school students (middle and high school) in New Jersey — all students must receive age‑appropriate instruction in financial literacy.
  • School districts and local boards of education — must schedule the course, adopt local graduation requirements for State‑endorsed diplomas, and ensure qualified teachers are available.
  • Teachers and school staffing/training — districts may need to ensure sufficient staff with the specified endorsements or provide pathways for endorsement/ professional development.
  • State education agencies — must set standards and provide curriculum resources.

Timeline and procedural notes

  • Reported with committee amendments Dec 5, 2024; passed both houses in 2025; delivered to Governor Aug 4, 2025; signed into law Aug 7, 2025 (Chap. 252).
  • Local graduation‑requirement component applies first to students entering 12th grade in 2027–2028.

Fiscal/implementation considerations

The law does not specify funding. Districts may incur costs for curriculum materials, teacher assignments or endorsement training, and schedule adjustments. The Commissioner’s sample materials aim to support implementation.

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

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