FOR IMMEDIATE RELEASE
June 27, 2024

Proponents Withdraw Initiative to Add One-Semester Personal Finance Course to High School Graduation Requirements

Sacramento, Calif. – Secretary of State Shirley N. Weber, Ph.D. announced today that an initiative eligible for the November 5, 2024, General Election ballot has been withdrawn by the proponents.

The Attorney General's official title and summary of the initiative is as follows:

ADDS ONE-SEMESTER PERSONAL FINANCE COURSE TO HIGH SCHOOL GRADUATION REQUIREMENTS. INITIATIVE STATUTE. Adds one-semester personal finance course to existing graduation requirements for public high school students (including those attending charter schools) beginning with the graduating class in 2030. Requires schools to begin offering the course by the 2026-27 school year. This course would be in addition to currently required one-semester economics course, which may—but is not required to—include personal finance curriculum. Students may fulfill new requirement by completing an existing University of California-approved personal finance course, or a new course approved by a school’s governing body. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Potential increased costs to schools that could reach in the high tens of millions of dollars annually in the first few years and then likely decline over time. Costs could be related to additional teachers, curriculum development, and instructional materials and would depend on how the measure is implemented. (23-0022.)

Pursuant to Elections Code section 9604(b), proponents may withdraw an initiative at any time before the Secretary of State certifies it as qualified.

The proponents of the measure are Christopher Lee Kaufman and Timothy J. Ranzetta. They can be reached c/o George M. Yin, Kaufman Legal Group, at (213) 452-6565 and gyin@kaufmanlegalgroup.com. The address for the Kaufman Legal Group is 777 S. Figueroa Street, Suite 4050, Los Angeles, CA 90017.

For more information about how an initiative qualifies for the ballot in California, visit https://www.sos.ca.gov/elections/ballot-measures/how-qualify-initiative/.