Massachusetts S421: An Act requiring financial education in schools

What the bill says

From the introduced text, February 27, 2025:

SECTION 1. Chapter 29 of the General Laws is hereby amended by inserting after section 2DDDDDD the following section:- Section 2EEEEEE. (a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Financial Literacy Trust Fund. The fund shall be administered by the commissioner of elementary and secondary education. The fund shall be credited with: (i) revenue from appropriations or other money authorized by the general court and specifically designated to be credited to the fund; (ii) interest earned on such revenues; and (iii) funds from public and private sources such as gifts, grants and donations to further financial education and professional development. Amounts credited to the fund shall not be subject to further appropriation and any money remaining in the fund at the end of a fiscal year shall not revert to the General Fund. (b) Amounts credited to the fund may be expended without further appropriation by the commissioner, for purposes related to the instruction of elementary, middle and high school students on financial literacy, including, but not limited to: (i) development of curricular materials for the financial literacy framework; and (ii) professional development training, including the provision of training, seminars, conferences, and materials, for educators to use in the teaching of financial literacy. In expending amounts …

Read the full official text

Sponsors

• Patrick O'Connor (R, First Plymouth and Norfolk) · primary sponsor
• General, Deborah B. Goldberg, Treasurer and Receiver (I)
• James Eldridge (D, Middlesex and Worcester)
• John Keenan (D, Norfolk and Plymouth)
• Patrick Kearney (D, 4th Plymouth)
• Tarr, Andrew (D, 5th Essex)
• Michael Brady (D, Second Plymouth and Norfolk)
• Nick Collins (D, First Suffolk)

Latest actions

1. July 30, 2026: Accompanied a study order, see S3238
2. July 2, 2026: Reporting date extended to Friday July 31, 2026
3. September 2, 2025: Hearing scheduled for 09/16/2025 from 11:00 AM-5:00 PM in Gardner Auditorium
4. February 27, 2025: House concurred
5. February 27, 2025: Referred to the committee on Education

Common questions

What is S421?

S421 is a bill in the Massachusetts Legislature (194th General Court): An Act requiring financial education in schools.

What is the status of S421?

Failed as of July 30, 2026. Latest action: Accompanied a study order, see S3238 (July 30, 2026).

Who sponsored S421?

Patrick O'Connor (R, First Plymouth and Norfolk), with 7 co-sponsors.

Where is the official record for S421?

On the Massachusetts Legislature website: https://malegislature.gov/Bills/194/S421