Rep. Jeff Hilovsky

Maddy summaryThis bill is a ceremonial resolution that officially recognizes November 11, 2024, as Veterans Day in the state of Delaware. It directly affects the approximately 70,000 veterans living in Delaware and encourages all citizens to participate in local ceremonies and activities honoring their service. The text highlights the historical significance of the date and the contributions of veterans across various military conflicts, but it does not create any new laws or change existing policies.

This House Resolution requests that the Department of Education does all of the following to expand and support equity and inclusion in financial literacy for all students in the State of Delaware: 1. Contract with the University of Delaware Institute for Public Administration to conduct a curriculum alignment study for all local education agencies (LEAs). 2. Reports the findings of the financial literacy standards curriculum alignment study to the General Assembly no later than May 1, 2025. 3. Provides assistance to LEAs to improve implementation of existing financial literacy standards. 4. Reports its findings and recommendations to the State Board of Education, the General Assembly, and the Governor.

This resolution urges the Department of Human Resources / Division of Statewide Benefits and Insurance Coverage, to collaborate with a health system partner to work with a technology partner to deliver focused and targeted care protocols to a measurable cohort of the State Employee Group Health Insurance Plan to proactively address the growing problem Diabetes and metabolic syndrome present, thereby improving health and decreasing expenses for the enrollees of the Plan.

With 60% of U.S. households living paycheck to paycheck, 40% of Americans having less than $300 in savings, 33% of Americans having saved nothing for retirement, 95% of Americans having not saved enough for retirement, and 87% of American teens admitting not understanding their finances, financial literacy education in Delaware high schools is needed. This Act, which may be cited as “The Equity and Inclusion in Financial Literacy for All High School Students in Delaware Act”, requires high schools to provide, at a minimum, a half credit course on financial literacy. And, beginning with students entering grade 9 in the 2025 through 2026 school year, successful completion of the course will be required to obtain a high school diploma. This Act requires the course to include instruction which meets the financial literacy standards for high school students adopted by the Department of Education and on all of the following financial literacy topics: (1) Introduction to behavioral economics, including enabling students to understand the impact of life experiences on personal money management decisions and habits. (2) Enabling students to understand the benefits of disciplined and regular savings to achieve financial goals and the power of compounding returns and interest. (3) Introduction to the why and how of different types of risk assessment and investing strategies that lead to sustainable and long-term financial success and a self-sufficient retirement, including introduction and explanation of the Delaware EARNS Program established under Chapter 38 of Title 19. (4) Enabling students to understand personal budgeting. (5) Enabling students to understand and manage credit and debt, including credit scores; types of credit to include credit cards, auto loans, mortgages, student loans, payday loans, and title loans; the benefits and methods of debt avoidance and repayment; and the rule of 72. (6) Enabling students to understand financial institutions, including banking services, brokerage services, account fees, and the difference between fiduciary and non-fiduciary advisors. (7) Enabling students to understand personal and payroll-related taxes and their impact on disposable income. (8) Enabling students to understand career options, including college vs. trade or technical school and entrepreneurship vs. employment. (9) Enabling students to understand philanthropy. (10) Insurance options.

This act regulates persons who receive compensation for advising or assisting with veterans' benefits earned by serving our nation in the military. This bill would not prohibit persons or business entities from receiving compensation for advice to Veterans that is unrelated to veteran claims or services available to veterans from the V.A. or its accredited agencies. Investment, insurance, banking, and other advice or services not provided by the V.A., or its accredited agencies may be obtained by veterans and fees charged for such services.

This bill adds optometrists to those health care providers eligible for the Health Care Provider Loan Repayment Program.

Through this resolution, we recognize the service and sacrifices Veterans have made for the safety of our nation and reaffirm our commitment to supporting and advocating for the needs of our Veteran community, ensuring that they receive the recognition, respect, care, and benefits they rightfully earned.

This resolution recognizes the last Monday of May as Memorial Day.