HF4903

Purpose

• Authorizes an appropriation from the general fund to the Department of Education to fund a Youth Stabilization Program grant.
• The grant is intended to support Build Wealth Minnesota in implementing the Youth Stabilization Program and providing a research-based financial literacy curriculum aligned with K–12 financial literacy standards.

Key Provisions

• Grant creation and recipient

  • Establishes a Youth Stabilization Program grant to Build Wealth Minnesota.
  • The funds are intended to implement a financial literacy curriculum across Minnesota schools.

• Curriculum and alignment

  • Provides a research-based financial literacy curriculum aligned with kindergarten through 12th grade financial literacy standards.

• Grade levels and instruction

  • Targets middle school and high school financial literacy instruction.
  • Aims to help school districts meet financial literacy education requirements through practical, real-world financial education.
  • Implements the Youth Stabilization Program curriculum across multiple grade levels and courses to form a comprehensive financial readiness program for high school seniors preparing to transition into adulthood.

• Access, licenses, and district participation

  • Provides student licenses for the Youth Stabilization Program financial literacy curriculum.
  • Supports district integration of the curriculum into middle and high school coursework.
  • Offers implementation guidance and instructional support to participating school districts.
  • Seeks to expand access to financial literacy education for Minnesota students.

• Reporting requirement

  • By October 1, 2028, the grant recipient must report to the chairs and ranking minority members of the legislative committees with jurisdiction over kindergarten through 12 education on activities and outcomes funded by the appropriation.
  • The report must include:
  • Number of schools and students provided access to financial literacy instruction through the Youth Stabilization Program.
  • Number of districts that implemented financial literacy education.
  • Examples of curriculum developed by the Youth Stabilization Program.
  • A summary of the implementation support provided to participating schools.

Funding and Administration

• The bill appropriates funds from the general fund to the commissioner of education for the Youth Stabilization Program grant (specific dollar amount is indicated in the bill text but described here as an appropriation rather than a stated figure).
• The Department of Education administers the grant.

Implementation and Oversight

• The program is administered by the Department of Education.
• The reporting requirement provides legislative oversight by detailing activities, reach, and outcomes of the funded work.

Significant Changes to Existing Law

• Creates a new targeted grant program (Youth Stabilization Program) funded from the general fund.
• Establishes a formal reporting obligation tied to the use of the appropriation, with specific metrics and a defined reporting deadline (October 1, 2028).
• Expands access to a standardized financial literacy curriculum across middle and high schools and requires district-level integration and support.

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Relevant Terms - Youth Stabilization Program - Build Wealth Minnesota - financial literacy - K–12 financial literacy standards - middle school - high school - high school seniors - financial readiness program - district integration - implementation guidance - instructional support - student licenses - general fund - Department of Education - report - October 1, 2028 - chairs and ranking minority members - legislative committees with jurisdiction over K–12 education - research-based curriculum - real-world financial education - access to financial literacy instruction - outcomes and activities - curriculum examples