SACRAMENTO – This evening, Assemblymember Alanis proudly announced that his financial literacy bill was signed into law by Governor Newsom.
The bill, AB 1871, adds personal finance to the list of required subject matter to be taught within the social studies curriculum for students in grades 7-12. Unlike past efforts, this bill grants schools flexibility in how they implement financial literacy lessons into the existing curriculum.
“I am eager to see AB 1871 signed into law,” said the Assemblymember. “This bill was a high priority for my district, and I am proud to have led the efforts to advance this curriculum requirement and ensure that our youth are adequately prepared to become financially independent adults before turning 18.”
Assemblymember Alanis co-authored a similar effort, AB 2927, which was also signed into law. While Assemblymember Alanis’ bill adds financial literacy into the curriculum for students in grades 7-12, AB 2927 creates a graduation requirement for high school students to complete a semester-long course in financial literacy before earning their diploma. AB 2927 will go into effect for students graduating in 2031, while AB 1871 becomes operative on January 1, 2025.
“I have been and will continue to be an advocate for supporting our youth and their preparation for adulthood,” said Assemblyman Alanis. “California has done a disservice to students who turn 18 without adequate knowledge of concepts like debt, loans, down payments, interest, and more. It is long overdue that we provide our youth with the resources they deserve.”
The bill will go into effect on January 1, 2025. It is the 15th Alanis authored bill signed into law in his first term. One more Alanis bill remains with the Governor for his review and consideration.
Assemblymember Juan Alanis represents the 22nd Assembly District, which includes the communities of Modesto, Turlock, Ceres, Denair, Patterson, Gustine, Newman, Hilmar, Ballico, Snelling, Keyes, Grayson, Crows Landing, Diablo Grande, Stevinson, & Empire.