On May 2, SB 33 passed the Alabama House of Representatives. This legislation, sponsored by Sen. Shay Shellnut (R-Trussville), addresses several issues in the code, including giving state-charted credit unions the ability to expand their supervisory committees and to pay travel expenses for a guest of a board member on official credit union activities without that being considered as compensation.  SB 33 will now move to Gov. Kay Ivey’s desk where she is expected to sign it into law.

LSCU will continue to follow this breaking story and provide you with more information as it becomes available.

Florida: Financial Literacy Language Passes Legislature

For the first time in Florida history, an elective in financial literacy will be required to be offered by every school district in the state. The LSCU, along with other stakeholders throughout the state, have worked tirelessly to increase opportunity for Florida’s students to learn financial responsibility. While the bill that passed both the House and Senate, HB 7071, did not include the 1/2 credit in financial literacy requirement, all school districts will now be required to offer a financial literacy course as an elective. This will be the only elective required to be offered throughout the state, a major step in the right direction.

The bill passed the Senate by a 40-0 vote earlier this morning, following a passionate closing by Sen. Travis Hutson (R-Palm Coast), where he honored the late Sen. Dorothy Hukill, a true champion on the financial literacy issue. The bill was then sent to the House, who immediately took it up and passed it by a 113-0 vote.

The League wants to thank Sen. Hutson and Reps. Elizabeth Fetterhoff (R-DeLand) and Heather Fitzenhagen (R-Fort Myers) for refusing to allow another session to go by without financial literacy being addressed. HB 7071 now heads to the desk of Gov. Ron DeSantis where it is expected to be signed into law.

If you have any questions, please contact the LSCU Advocacy staff directly.