STAND. COM. REP. NO. 674

Honolulu, Hawaii

RE: S.B. No. 1004

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Judiciary, to which was referred S.B. No. 1004 entitled:

"A BILL FOR AN ACT RELATING TO EDUCATION,"

begs leave to report as follows:

The purpose and intent of this measure is to require the Department of Education to include the teaching of financial literacy in the personal transition plan requirement for each student beginning with the 2021-2022 school year.

Your Committee received testimony in support of this measure from the Department of Education, Hawaii Credit Union League, and two individuals.

Your Committee finds that financial education is a lifelong learning process that empowers individuals to plan for their futures. In the past, the educational system has assumed that students will learn important financial skills from their families. However, it is clear that not all students are learning the financial skills they will need to be successful later in life. This measure will ensure that Hawaii's students receive an education to help them achieve financial success.

As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1004 and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Judiciary,

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KARL RHOADS, Chair