HB164 Alabama 2023 Session

Updated Feb 26, 2026

Notable

Summary

Primary Sponsor: Andy WhittRepresentative
Republican
Session: Regular Session 2023
Title: Relating to public high schools; to require students to complete a personal financial literacy and money management course before graduation; to provide for the creation and administration of a financial literacy examination; and to require the reporting of a summary of examination results to the State Department of Education.
Summary: HB164 would require public high school students to complete a personal financial literacy and money management course before graduation, with an attached exam and annual reporting.
What This Bill Does
Starting with ninth graders entering the 2024-2025 school year, students must complete a personal financial literacy and money management course before graduating. The course covers topics such as managing bank accounts, budgeting, credit, debt, loans, insurance, taxes, interest, contracts, and savings or investments. The Department of Education must identify approved courses that can count as one math credit, create an exam by June 30, 2024, administer it after course completion, and annually report summary results to the Department, with the State Board of Education adopting necessary rules.

Who It Affects
Public high school students (especially those entering ninth grade in 2024-2025) who must take the financial literacy course and pass the exam before graduation.
State and local education agencies (the Department of Education and local school systems) who identify approved courses, administer the exam, collect results, and report them annually; and the Board of Education which will adopt implementing rules.

Key Provisions
Section 1(a): Public high school students entering ninth grade in 2024-2025 must complete a personal financial literacy and money management course before graduation, covering topics such as bank accounts, balancing a checking account, budgeting and debt, loans, insurance, taxation, interest, contracts, and savings/investments.
Section 1(b)(1-2): By June 30, 2024, the Department of Education must identify approved financial literacy courses that may fulfill one unit of math credit, and must create an exam focused on the course standards; the exam will be provided to local school systems and administered to each student upon course completion; a summary of results must be reported annually to the Department.
Section 1(c): The State Board of Education will adopt rules necessary to implement the section.
Section 2: The act becomes effective on the first day of the third month after passage.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Public K-12 education; course on personal financial literacy required; examination and reporting of results