AB 990

Under current law, a school board may grant a high school diploma to a pupil only if the pupil meets specific statutory requirements, including earning a certain number of credits in various subjects in the high school grades. Beginning with pupils graduating in 2028, current law requires that, to receive a high school diploma, a pupil must earn at least one-half credit of personal financial literacy.

Under the bill, a school board must award one-half credit of personal financial literacy to a pupil who successfully completes a financial literacy program offered by a financial institution at a branch located in a school if the school board determines that the financial literacy program satisfies the personal financial literacy requirement. Under the bill, a “financial institution” is a bank, savings bank, savings and loan association, trust company, or credit union chartered under the laws of this state, another state, or territory, or under federal law.