Business Law Section pushes for financial literacy course.

The Business Law Section, Florida Chamber of Commerce, and 43 legislators have come together to support a measure that would require a full-semester financial literacy course for high school students.

HB 367 and SB 212, together known as "The Money Course," is a recommendation of a statewide coalition led by the Florida Council on Economic Education, and comes on the heels of recent studies indicating that nearly half of Florida's high school seniors lack understanding of financial basics like income, credit, and insurance.

"We want to empower young people with the finance skills that will take them into young adulthood and beyond," said Stephen Nagin, chair of the Bar's Business Law Section. "Dedicating a semester to financial literacy will help set them up for success over the long term."

The House legislation is sponsored by Reps. Heather Fitzenhagen, R-Ft. Myers, and Manny Diaz, R-Hialeah, and has received the support of 34 co-sponsors. The Senate legislation is sponsored by Sen. Dorothy Hukill, R-Port Orange, and has received the support of nine Senate co-sponsors.

David Hart, executive vice president of the Florida Chamber of Commerce, said Florida's students aren't the only ones hurt by financial illiteracy. "Our state's businesses, small and large, suffer when our young adults lack the fundamental financial knowledge to contribute to Florida's economy," Hart said. "And sound personal finances are a top factor employers consider when hiring."

The Business Law Section and the Florida Chamber of Commerce join a number of other organizations supporting "The Money Course" legislation, including The Florida Bankers Association, the Florida Prosperity Partnership, and the Federal Reserve Bank of Atlanta.

"The Business Law Section of The Florida Bar and Florida Chamber recognize that 'The Money Course' is essential to ensuring our students are prepared for...