2006 Louisiana Laws - RS 17:274 — Free enterprise; personal finance components; required course

§274.  Free enterprise; personal finance components; required course

A.  All public high schools shall give instruction in a course in free enterprise as a prerequisite to graduation.  Instruction shall be given in accordance with the course of study prescribed by the State Board of Elementary and Secondary Education for at least one semester, equal to one-half unit of credit.  The State Board of Elementary and Secondary Education shall prescribe suitable teaching materials for the instruction.

B.(1)  As used in this Section "free enterprise" means an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision rather than state control and by prices, production, and the distribution of goods that are determined in a free manner.  Instruction required herewith shall emphasize the positive values of profit and competition in a free economy and the enhancement of the worth and dignity of the individual under such a system.

(2)(a)  Beginning with the 2004-2005 school year, the course of free enterprise as defined in this Subsection shall include instruction in personal finance.

(b)  Such instruction shall include but shall not be limited to the following components:

(i)  Income.

(ii)  Money management.

(iii)  Spending and credit.

(iv)  Savings and investing.

C.  The State Board of Elementary and Secondary Education shall adopt regulations to insure instruction required herewith is given to all pupils in all public high schools and local boards of education of every city, parish and school district of this state shall schedule such instruction in accordance with said regulations of the State Board of Elementary and Secondary Education.  In-service training programs shall be provided each year by the State Department of Education to assist teachers who give instruction on the free enterprise system.

D.  The state superintendent of education shall have the authority at any time to waive such requirement for any person who is on active duty in the Armed Forces of the United States and who was transferred into the state during his senior year.  The state superintendent of education shall also have the authority at any time to waive such requirement for any student who transfers to a school in Louisiana from any school outside the state of Louisiana during his senior year.  The state superintendent of education shall have no authority to waive the teaching of the course on free enterprise for any entire high school student body.

E.  Repealed by Acts 1984, No. 283, §2.

Added by Acts 1976, No. 83, §1.  Amended by Acts 1977, No. 324, §1, eff. July 13, 1977.  Acts 1984, No. 283, §1, §2; Acts 2003, No. 296, §1, eff. June 13, 2003.