C.R.S. Section 22-2-127
Financial literacy

  • resource bank
  • technical assistance
  • definitions
  • appropriation
  • repeal

(1)

As used in this section, unless the context otherwise requires:

(a)

“Colorado application for state financial aid” or “CASFA” means the application to determine student financial need and eligibility for state financial aid programs using federal FAFSA methodology, or any successor form.

(b)

“Financial literacy” means knowledge of personal finances that is sufficient to enable a person to manage savings, investment, and checking accounts; to design and maintain a household budget; to manage personal debt; to understand consumer credit and finance; to manage personal credit options; to assess the affordability of and how to budget for postsecondary education; to understand the purpose of and how to access and complete the FAFSA or CASFA to access student financial aid; to understand the home buying process, including home loans and managing mortgage debt; and to understand and select from short-term and long-term investment options.

(c)

“Free application for federal student aid” or “FAFSA” means the federal application used to determine student financial need and eligibility for federal student aid programs, or any successor form.

(2)

The state board shall create and maintain a resource bank of materials pertaining to financial literacy. At a minimum, the resource bank shall include national model standards for financial literacy, model programs of instruction for financial literacy, model financial literacy curricula, and model materials for professional educator development in teaching financial literacy. The resource bank shall also include a list of the available mathematics and economics textbooks that contain substantive provisions on personal finance, including personal budgeting, credit, debt management, and similar personal finance topics. The state board shall ensure that the materials included in the resource bank represent the best practices in the teaching of financial literacy. The materials in the resource bank shall be available to school districts not later than March 15, 2005.

(2.5)

In addition to the materials included in the resource bank pursuant to subsection (2) of this section, the resource bank must also include information concerning financial aid planning for postsecondary education expenses; information concerning the benefits of completing and submitting the FAFSA, or, for students who are not eligible for financial aid pursuant to Title IV, Part B of the federal “Higher Education Act of 1965”, as amended, the CASFA; and electronic links to the FAFSA and CASFA and instructions for completing the FAFSA and CASFA.

(3)

Upon the request of a school district or a charter school, the department shall provide technical assistance to the school district or charter school in designing a curriculum of financial literacy.

(4)

The department shall implement the provisions of this section to the fullest degree possible within existing resources. The department shall contract with one or more entities for the implementation of this section.

(5)

The general assembly hereby finds and declares that, for purposes of section 17 of article IX of the state constitution, creation of a resource bank of materials pertaining to financial literacy is an important element of an accountable program to meet state academic standards and may therefore receive funding from the state education fund created in section 17 (4) of article IX of the state constitution.

(6)

The department is authorized to accept and expend any gifts, grants, or donations that may be available from any private or public sources for the implementation of this section. All private and public funds received through gifts, grants, or donations pursuant to this subsection (6) shall be transmitted to the state treasurer, who shall credit the same to the financial literacy cash fund, which fund is hereby created and referred to in this subsection (6) as the “fund”. The moneys in the fund shall be subject to annual appropriation by the general assembly for the direct and indirect costs associated with the implementation of this section. Any moneys in the fund not expended for the purposes of this section may be invested by the state treasurer as provided by law. All interest and income derived from the investment and deposit of moneys in the fund shall be credited to the fund. Any unexpended and unencumbered moneys remaining in the fund at the end of a fiscal year shall remain in the fund and shall not be credited or transferred to the general fund or another fund.

(7)

Intentionally left blank —Ed.

(a)

The department, in collaboration with the department of higher education, shall:

(I)

Update financial literacy information and training provided to local education providers to include detailed resources and tools about financial aid, access to financial aid tools, and applications and processes beginning in middle school or earlier; and

(II)

Develop financial literacy training options aligned with financial aid information, federal and state application processes, and underlying financial literacy principles, such as in-demand, high-wage jobs and the necessary training leading to those jobs. The department shall prioritize providing training to financial literacy educators, career and technical education instructors, counselors, and professionals, such as those working in family engagement.

(b)

For the 2022-23 state fiscal year, the general assembly shall appropriate to the department two hundred seventy-five thousand dollars from the general fund for the programs pursuant to this subsection (7). Any unexpended money remaining at the end of the 2022-23 state fiscal year from this appropriation:

(I)

Does not revert to the general fund or any other fund;

(II)

May be used by the department in the 2023-24 or 2024-25 state fiscal year without further appropriation; and

(III)

Must not be used for any other purpose other than the purposes set forth in this subsection (7).

(c)

This subsection (7) is repealed, effective July 1, 2025.

Source: Section 22-2-127 — Financial literacy - resource bank - technical assistance - definitions - appropriation - repeal, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-22.­pdf (accessed Oct. 20, 2023).

22‑2‑101
Short title
22‑2‑102
Definitions
22‑2‑103
Department of education
22‑2‑104
Offices and positions - nature
22‑2‑105
State board of education - composition
22‑2‑105.5
State board of education - definitions - vacancies - procedure for filling
22‑2‑106
State board - duties - rules
22‑2‑106.5
State board - duties with regard to student data - memorandum of understanding
22‑2‑107
State board - power
22‑2‑108
Federal financial assistance
22‑2‑109
State board of education - additional duties - teacher standards - principal standards - rules
22‑2‑110
Commissioner of education - oath - qualifications - tenure
22‑2‑111
Commissioner of education - office - records - confidential nature
22‑2‑112
Commissioner - duties - report - legislative declaration
22‑2‑113
Commissioner - powers
22‑2‑113.8
Department of education - additional local revenues - distribution to schools - annual report
22‑2‑114.1
Dropout rates - collection of data on grades seven through twelve
22‑2‑116
Additional power - waiver of reporting requirements - review of reporting requirements
22‑2‑116.5
Department of education - student-level course completion data
22‑2‑117
Additional power - state board - waiver of requirements - rules
22‑2‑119
Department of education - inquiries concerning prospective employees - background investigation fee
22‑2‑119.3
Department of education - educator preparation program students - record check - fee - definitions
22‑2‑119.5
Department of education - duty to report - convictions
22‑2‑122
Grants to schools and school districts
22‑2‑122.5
COVID-19 learning impacts - extended learning opportunities - funding - combined application, reporting, and evaluation process - rules - legislative declaration - definitions - repeal
22‑2‑125
Loan program for capital improvements in growth school districts - use of public school fund
22‑2‑127
Financial literacy - resource bank - technical assistance - definitions - appropriation - repeal
22‑2‑127.1
Stipends for financial aid training - definitions - appropriation - repeal
22‑2‑127.3
Holocaust and genocide studies - resource bank - technical assistance - definitions
22‑2‑127.5
Computer science programs - resource bank
22‑2‑127.7
Marijuana education materials - resource bank - technical assistance
22‑2‑127.9
Mental health education literacy - resource bank - technical assistance
22‑2‑128
Department of education - reciprocal agreements with adjacent states - report
22‑2‑129
Department of education - approved supplemental education services providers - list
22‑2‑130
Supplemental online education grant program - legislative declaration - definitions - creation - eligibility - award - fund
22‑2‑132
Department of education - career and technical education authorization - rules
22‑2‑133
Assessment and identification of students with literacy challenges including dyslexia - training and technical assistance - collaboration with higher education - report
22‑2‑135
Food allergy and anaphylaxis management - rules
22‑2‑136
Additional duty - state board - individual career and academic plans - standards - rules
22‑2‑137
State schools - legislative declaration - feasibility study - authority to contract - funding
22‑2‑138
State environmental education plan - fund created
22‑2‑139
Memorandum of understanding - notification of risk - rules
22‑2‑141
Early literacy assessment tool - request for proposals - software - hardware - training - distribution - legislative declaration
22‑2‑144
Bullying prevention and education policies - short title - study
22‑2‑145
Media literacy - committee - report - strategic plan - resource bank - definition - rules
22‑2‑146
Department of education - COVID-19-related education loss - strategies - resources - report - legislative declaration
22‑2‑146.5
Department of education - improving mathematics outcomes - training and technical assistance - report - definitions
22‑2‑146.6
Colorado academic accelerator grant program - report - rules - definitions
22‑2‑147
Menstrual hygiene products accessibility grant program - eligibility - rules - report - definitions
22‑2‑148
Secondary school student substance use - committee - definitions - repeal
22‑2‑301
Short title
22‑2‑302
Legislative declaration
22‑2‑303
Definitions
22‑2‑304
Education data advisory committee - creation - duties - approval
22‑2‑305
Data dictionary - legislative declaration - creation - contents - report
22‑2‑306
Advance notice - legislative declaration - data collection - data submission changes - website update - submission windows
22‑2‑307
Data reporting requirements - interpretation of federal law - suspension
22‑2‑308
Data reporting requirements - office of legislative legal services
22‑2‑401
Legislative declaration
22‑2‑402
Definitions
22‑2‑403
Office of facility schools - created
22‑2‑404
Facility schools board - created - membership
22‑2‑405
Facility schools office - duties
22‑2‑406
Facility schools board duties - curriculum - graduation standards - report - rules
22‑2‑407
List of approved facility schools - application - criteria - rules
22‑2‑407.5
Facility schools - sustainable model of education for facility students - work group - created - membership - duties - reporting requirements - funding
22‑2‑408
Approved facility schools - funding
22‑2‑409
Notification of risk
22‑2‑410
Administration - licensing - reports
22‑2‑411
Shared operational services grant program - creation - report - rules - definitions - repeal
22‑2‑412
Technical assistance center - creation - definitions
22‑2‑501
Legislative declaration
22‑2‑502
Definitions
22‑2‑503
Teaching and learning conditions survey
22‑2‑504
National certification compensation - definition - study
22‑2‑505
Minority teacher recruitment - short title - legislative declaration - study - report
Green check means up to date. Up to date

Current through Fall 2024

§ 22-2-127’s source at colorado​.gov