House Committee of Reference Report
Committee on Appropriations
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April 25, 2025
After consideration on the merits, the Committee recommends the following:
HB25-1192 be amended as follows, and as so amended, be referred to the Committee of the Whole with favorable recommendation:
Page 1, Line 1Amend printed bill, page 2, line 5, strike "one-semester".
Page 1, Line 2Page 2, line 15, strike "skills;" and substitute "skills. Local education
Page 1, Line 3providers have broad discretion to determine the method of implementing
Page 1, Line 4a financial literacy course, the curriculum and materials used for teaching
Page 1, Line 5a financial literacy course, the licensing and certification requirements for
Page 1, Line 6teaching a financial literacy course, and existing local graduation
Page 1, Line 7requirements a financial literacy course may fulfill.".
Page 1, Line 8Page 4, line 3, strike "Submit" and substitute "Understand and practice
Page 1, Line 9using".
Page 1, Line 10Page 4, strike lines 5 through 27.
Page 1, Line 11Strike pages 5 through 7.
Page 1, Line 12Page 8, strike lines 1 through 11 and substitute:
Page 1, Line 13"SECTION 2. In Colorado Revised Statutes, add 22-1-104.9 as
Page 1, Line 14follows:
Page 1, Line 1522-1-104.9. Teaching of financial literacy - repeal.
Page 1, Line 16(1) (a) Satisfactory completion of a course on financial
Page 1, Line 17literacy, as defined in section 22-32-135, which incorporates the
Page 1, Line 18standards on financial literacy developed by the state board of
Page 1, Line 19education pursuant to section 22-7-1005 (2.8), is a condition of
Page 1, Line 20high school graduation in the public schools of this state.
Page 1, Line 21(b) School districts and charter schools shall teach a
Page 1, Line 22course on financial literacy in the ninth, tenth, eleventh, or
Page 2, Line 1twelfth grade but are encouraged to teach the course in the
Page 2, Line 2eleventh or twelfth grade.
Page 2, Line 3(2) A school district or charter school may utilize any
Page 2, Line 4curriculum the school district or charter school has adopted
Page 2, Line 5pursuant to section 22-32-135, the resource bank created
Page 2, Line 6pursuant to section 22-2-127, or any other alternative programs
Page 2, Line 7or materials. Any programs or materials used in teaching a
Page 2, Line 8course on financial literacy must represent best practices and
Page 2, Line 9be developed using input from experts in the area of personal
Page 2, Line 10finances.
Page 2, Line 11(3) This section applies to students in ninth grade on or
Page 2, Line 12after September 1, 2026.
Page 2, Line 13(4) (a) (I) For the 2025-26 state fiscal year, the general
Page 2, Line 14assembly shall appropriate money from the general fund to the
Page 2, Line 15department of education for distribution to school districts to
Page 2, Line 16support implementation of:
Page 2, Line 17(A) A financial literacy course required to be taught
Page 2, Line 18pursuant to subsection (1) of this section; and
Page 2, Line 19(B) The individual career and academic plan requirements
Page 2, Line 20described in section 22-2-136 (2)(d).
Page 2, Line 21(II) The department of education shall distribute money
Page 2, Line 22pursuant to subsection (4)(a)(I) of this section to school
Page 2, Line 23districts that do not currently offer a financial literacy
Page 2, Line 24course based on a formula determined by the department of
Page 2, Line 25education. The department of education may determine
Page 2, Line 26eligibility for funding pursuant to this subsection (4)(a) based on
Page 2, Line 27attestations from school districts.
Page 2, Line 28(III) Any unexpended money remaining at the end of the
Page 2, Line 292025-26 state fiscal year from this appropriation:
Page 2, Line 30(A) Does not revert to the general fund or any other
Page 2, Line 31fund;
Page 2, Line 32(B) May be used by the department of education in the
Page 2, Line 332026-27 or 2027-28 state fiscal years without further
Page 2, Line 34appropriation; and
Page 2, Line 35(C) Must not be used for any purpose other than the
Page 2, Line 36purposes set forth in this section.
Page 2, Line 37(b) The department of education may seek, accept, and
Page 2, Line 38expend gifts, grants, or donations from private or public sources
Page 2, Line 39for the purpose of supporting educators in implementing a
Page 2, Line 40financial literacy course pursuant to subsection (1) of this
Page 2, Line 41section.
Page 2, Line 42(c) This subsection (4) is repealed, effective July 1, 2028.
Page 2, Line 43SECTION 3. In Colorado Revised Statutes, 22-2-136, amend
Page 3, Line 1(2)(b) and (2)(c); and add (2)(d) as follows:
Page 3, Line 222-2-136. Additional duty - state board - individual career and
Page 3, Line 3academic plans - standards - rules. (2) In establishing the standards for
Page 3, Line 4individual career and academic plans, the state board shall ensure, at a
Page 3, Line 5minimum, that:
Page 3, Line 6(b) Each individual career and academic plan is accessible to
Page 3, Line 7educators, students, and parents; and
Page 3, Line 8(c) Each public school, in assisting students and parents in
Page 3, Line 9creating and maintaining the individual career and academic plans, is in
Page 3, Line 10compliance with the requirements of the federal "Family Educational
Page 3, Line 11Rights and Privacy Act of 1974", 20 U.S.C. sec. 1232g; and
Page 3, Line 12(d) (I) Beginning with the 2027-28 school year, each
Page 3, Line 13individual career and academic plan includes a requirement
Page 3, Line 14that, during the student's graduation year, the student has
Page 3, Line 15exposure to federal financial aid eligibility tools and
Page 3, Line 16state-based net price calculators and fills out a free
Page 3, Line 17application for federal student aid or the Colorado application
Page 3, Line 18for state financial aid.
Page 3, Line 19(II) Notwithstanding subsection (2)(d)(I) of this section, a
Page 3, Line 20student is not required to fill out a free application for federal
Page 3, Line 21student aid or the Colorado application for state financial aid
Page 3, Line 22if:
Page 3, Line 23(A) The student affirmatively declines to fill out the
Page 3, Line 24application; or
Page 3, Line 25(B) Authorized school personnel determines it is not
Page 3, Line 26feasible for the student to fill out an application.
Page 3, Line 27(III) If a student has not filled out the application or
Page 3, Line 28affirmatively declined to fill out the application pursuant to
Page 3, Line 29subsection (2)(d)(II)(A) of this section by May 1 of the applicable
Page 3, Line 30school year, the public school must indicate on the student's
Page 3, Line 31individual career and academic plan that the student has
Page 3, Line 32declined to fill out an application.
Page 3, Line 33SECTION 4. In Colorado Revised Statutes, 22-32-135, amend
Page 3, Line 34(4) as follows:
Page 3, Line 3522-32-135. Financial literacy curriculum - definition.
Page 3, Line 36(4) Pursuant to section 22-1-104.9, each school district board of
Page 3, Line 37education is further encouraged required to adopt successful
Page 3, Line 38satisfactory completion of a course in financial literacy as a graduation
Page 3, Line 39requirement.
Page 3, Line 40SECTION 5. In Colorado Revised Statutes, 23-3.3-106, add (5.5)
Page 3, Line 41as follows:
Page 3, Line 4223-3.3-106. Technology to support FAFSA and CASFA -
Page 3, Line 43definitions. (5.5) Any money appropriated to the department for
Page 4, Line 1the implementation of this section may be used for maintenance
Page 4, Line 2of the web-based financial aid completion tool.
Page 4, Line 3SECTION 6. Appropriation. (1) For the 2025-26 state fiscal
Page 4, Line 4year, $9,611 is appropriated to the department of higher education for use
Page 4, Line 5by the Colorado commission on higher education and higher education
Page 4, Line 6special purpose programs. This appropriation is from the general fund
Page 4, Line 7and is based on an assumption that the division will require an additional
Page 4, Line 80.1 FTE. To implement this act, the division may use this appropriation
Page 4, Line 9for administration.
Page 4, Line 10(2) For the 2025-26 state fiscal year, $210,389 is appropriated to
Page 4, Line 11the department of education for use by student pathways. This
Page 4, Line 12appropriation is from the general fund. To implement this act, the division
Page 4, Line 13may use this appropriation for support to local education providers for
Page 4, Line 14student financial literacy initiatives.".
Page 4, Line 15Renumber succeeding section accordingly.
Page 4, Line 16Page 1, line 102, strike "schools." and substitute "schools, and, in
Page 4, Line 17connection therewith, making an appropriation.".