SF 1461

as introduced - 93rd Legislature (2023 - 2024) Posted on 07/05/2023 03:43pm

A bill for an act
relating to commerce; providing grants to the Minnesota Council on Economic
Education; requiring reports; appropriating money.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin MINNESOTA COUNCIL ON ECONOMIC EDUCATION; GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Transfer from consumer education account. new text end

new text begin $100,000 in fiscal year
2024 is transferred from the consumer education account in the special revenue fund to the
general fund.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. new text end

new text begin $100,000 in fiscal year 2024 is appropriated from the general
fund to the commissioner of education to issue the grants in subdivision 3. This balance
does not cancel but is available in the second year.
new text end

new text begin Subd. 3. new text end

new text begin Minnesota Council on Economic Education. new text end

new text begin (a) $50,000 in fiscal year 2024
and $50,000 in fiscal year 2025 are for grants to the Minnesota Council on Economic
Education.
new text end

new text begin (b) The funds under paragraph (a) must be used by the council to:
new text end

new text begin (1) provide professional development to Minnesota teachers of courses or content related
to personal finance or consumer protection for students in grade 9 through grade 12;
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new text begin (2) support the direct-to-student ancillary personal finance programs that Minnesota
teachers supervise and coach or that the Minnesota Council on Economic Education delivers
directly to students; and
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new text begin (3) provide support to geographically diverse affiliated higher education-based centers
for economic education engaged in financial literacy education as it pertains to financial
literacy education initiatives, including those based at Minnesota State University Mankato,
St. Cloud State University, and St. Catherine University, as their work relates to activities
in clauses (1) and (2).
new text end

new text begin (c) The Minnesota Council on Economic Education must prepare and submit reports to
the commissioner of education in the form and manner prescribed by the commissioner
that:
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new text begin (1) describe the number and type of in-person and online teacher professional
development opportunities provided by the Minnesota Council on Economic Education or
its affiliated state centers;
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new text begin (2) list the content, length, and location of the programs;
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new text begin (3) identify the number of preservice and licensed teachers receiving professional
development through each of these opportunities;
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new text begin (4) summarize evaluations of professional opportunities for teachers; and
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new text begin (5) list the number, types, and summary evaluations of the direct-to-student ancillary
personal finance programs that are supported with funds from the grant.
new text end

new text begin (d) By February 15 of each year following the receipt of a grant, the Minnesota Council
on Economic Education must provide a mid-year report to the commissioner of education
and, on August 15 of each year following receipt of a grant, the Minnesota Council on
Economic Education must prepare a year-end report according to the requirements of
paragraph (c). The reports must be prepared and filed according to Minnesota Statutes,
section 3.195. The commissioner may request additional information as necessary.
new text end