Texas Financial Literacy Bill Signed Into Law
Texas Society of CPAs Supported Legislation Requiring
Personal Finance Curriculum in High Schools

DALLAS — Texas high school students will soon be learning more than the traditional reading, writing and arithmetic. HB 492, a bill requiring personal finance education for high school graduation, was signed into law June 17 by Texas Gov. Rick Perry.

Texas CPAs supported the bill, which was first introduced in the Texas House of Representatives by Rep. Beverly Woolley (R-Houston). TSCPA Chairman Ed Polansky testified in favor of the legislation in March.

“Since American teens spend billions of dollars each year, it’s imperative that they learn smart spending and saving habits early in their lives,” Polansky said. “Texas CPAs believe teaching money management principles to high school students better prepare them for sound financial decision-making as adults.”

Texas becomes the eighth state to require personal finance education for high school graduation. According to the National Council on Economic Education, such requirements already exist in seven states: Alabama, Georgia, Idaho, Illinois, Kentucky, New York, and Utah.

Polansky said TSCPA is prepared to help school districts comply with the bill by continuing to make available its multi-lesson curriculum guide developed by the American Institute of Certified Public Accountants.

TSCPA will continue reaching out to Texas consumers of all ages through its “360 Degrees of Financial Literacy” program.

TSCPA’s statewide financial literacy initiative includes an informational bilingual Web site at www.ValueYourMoney.org. The Web site features special sections for kids, youth, young adults, adults, and military personnel. While online, consumers may register for a free monthly electronic newsletter with articles on saving for retirement, identity theft protection, budgeting, tax planning, and more.

ABOUT TSCPA

TSCPA (http://www.tscpa.org) is a nonprofit, voluntary, professional organization representing Texas CPAs. The society has 20 local chapters statewide and has 27,000 members, one of the largest in-state memberships of any state CPA society in the United States. TSCPA is committed to serving the public interest with programs that advance the highest standards of ethics and practice within the CPA profession.