SCR4 - Declares April 2025 as Financial Literacy Month. (BDR R-1163)

- 83rd Session (2025) Senate Concurrent Resolution No. 4–Senators Ohrenschall, Scheible; Cruz-Crawford, Daly, Doñate, Dondero Loop and Taylor Joint Sponsors: Assemblymembers Yeager, Nguyen; Anderson, Backus, Brown-May, Carter, Cole, Considine, Dalia, DeLong, Dickman, D’Silva, Edgeworth, Flanagan, Gallant, González, Goulding, Gray, Gurr, Hafen, Hansen, Hardy, Hibbetts, Hunt, Jackson, Jauregui, Karris, Kasama, Koenig, La Rue Hatch, Marzola, Miller, Monroe-Moreno, Moore, Mosca, Nadeem, O’Neill, Orentlicher, Roth, Torres-Fossett, Watts and Yurek FILE NUMBER.......... SENATE CONCURRENT RESOLUTION—Declaring April 2025 as Financial Literacy Month. WHEREAS, The Legislature passed Senate Bill No. 314 (2019), which helps make financial literacy in the classroom a reality for Nevada’s school-age children and established the State Financial Literacy Advisory Council; and WHEREAS, The duties of the State Financial Literacy Advisory Council include requirements for the Advisory Council to develop a strategic plan for the development of educational resources in financial literacy and identify learning activities targeted toward the standards and criteria of a curriculum in financial literacy; and WHEREAS, The Legislature passed Assembly Bill No. 274 (2023), which revised provisions relating to the instruction of financial literacy in this State to help students navigate personal finances; and WHEREAS, A lack of financial literacy has real consequences for individuals, including lower savings rates, poor credit and less wealth overall; and WHEREAS, The Organisation for Economic Co-operation and Development conducted a survey in 2022 of individuals who are 15 years of age in the United States and found that 17 percent of respondents did not learn or are unable to apply fundamental financial skills that often occur in everyday situations, such as building a simple budget, comparison shopping and understanding an invoice; and WHEREAS, According to an Organisation for Economic Co- operation and Development study conducted in 2022, more than one in six students in the United States did not reach the baseline level of proficiency in financial literacy; and – 2 – - 83rd Session (2025) WHEREAS, In 2018, an EVERFI survey of over 100,000 incoming college students found that 92 percent of students felt they needed more education, information or support to be able to pay off their college loans; and WHEREAS, According to a survey conducted by Experian in 2019, 49 percent of Generation Z consumers surveyed said that they found financial topics to be somewhat interesting or interesting, and 11 percent said they loved learning about such topics; and WHEREAS, The International Review of Economics Education published a paper in 2014 titled “The features and effectiveness of the Keys to Financial Success curriculum,” which found that one- semester financial literacy programs taught by trained teachers were found to increase the financial knowledge of high school students by 61 percent and were most effective in improving knowledge in the areas that the students were most deficient; and WHEREAS, A study from Montana State University found that high school financial education leads to better financial aid decisions once students reach college, increases subsidized borrowing at advantageous federal rates and decreases use of more costly forms of borrowing, including credit cards and private loans; and WHEREAS, Financial literacy rates directly affect the financial health of individuals, families, communities and the country; and WHEREAS, Resolutions similar to this resolution have been introduced and passed with strong bipartisan support to increase awareness of the need for financial literacy for Nevada citizens; now, therefore, be it RESOLVED BY THE SENATE OF THE STATE OF NEVADA, THE ASSEMBLY CONCURRING, That the Nevada Legislature hereby recognizes and declares the month of April 2025 as Financial Literacy Month, in order to raise public awareness about the need for increased financial capability; and be it further RESOLVED, That the Secretary of the Senate prepare and transmit a copy of this resolution to the Governor of the State of Nevada, the Majority Leader of the Senate, the Speaker of the Assembly, the Minority Leader of the Senate, the Minority Leader of the Assembly, the Superintendent of Public Instruction, the Nevada Credit Union League and the Nevada Bankers Association; and be it further RESOLVED, That this resolution becomes effective upon adoption. 20 ~~~~~ 25