1. (a) The local school board shall ensure a developmentally appropriate business education program at each high school consistent with local competencies and curriculum pursuant to Ed 306.22.

2. (b) Each district shall have curriculum to provide opportunities for students to demonstrate and achieve the following competencies:

   1. (1) In entrepreneurship, the concepts, processes, and skills associated with identifying new ideas, opportunities, and methods, including starting a new project or venture;
   2. (2) In business ethics, the ethical standards that govern business operations and transactions, and employee behavior;
   3. (3) In finance, the tools, strategies, and systems used to maintain, monitor, control, and plan the use of financial resources;

   4. (4) In management:

      1. a. Leadership, management, and teamwork concepts and principles; and
      2. b. A working understanding of the tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist in business decision-making; and
   5. (5) In marketing and sales, the techniques and strategies used to foster positive, ongoing relationships with customers while learning the skills required to maintain an exchange relationship for goods and services.

3. (c) Each district shall establish and provide competencies and curriculum for personal finance literacy that includes the following content areas:

   1. (1) Earning income, including:

      1. a. Understanding career paths and potential compensation for career paths;
      2. b. Wage and salary compensation and employee benefits;
      3. c. The major types of federal and state income tax and sales tax schemes; and
      4. d. Changes in economic conditions, technology, or the labor market that can cause changes in income, career opportunities, or employment status;

   2. (2) Spending, including:

      1. a. Budgeting;
      2. b. Consumer decision-making and the factors that influence spending;
      3. c. Federal and state consumer protection laws; and
      4. d. Financial record-keeping, including financial technology options;

   3. (3) Saving, including:

      1. a. Financial institutions, including the federal and state agencies that supervise and regulate them and the products and services offered;
      2. b. Interest rates, bank and investment management fees, inflation, and their effects on saving;
      3. c. Retirement and long-term financial goals; and
      4. d. Investing;

   4. (4) Managing credit, including:

      1. a. Secured and unsecured loans, credit cards, mortgages, and alternative financial services, including borrowing costs and repayment plans;
      2. b. Financing of post-secondary education, including federal and private student loans, scholarships, grants, work-study programs, and savings;
      3. c. Credit bureaus, credit scores, credit reports, and the assessment of creditworthiness; and
      4. d. Consumer credit protection laws and protections; and

   5. (5) Managing risk, including:

      1. a. Insurance types, coverage, risk exposure, premiums, and deductibles;
      2. b. Extended warranties and service contracts on consumer goods;
      3. c. Safeguarding personal financial data; and
      4. d. Identity theft and fraud.
4. (d) Schools shall adhere to assessment practices consistent with Ed 306.19.

Source. (See Revision Notes #1, #2, #3, and #4 at part heading for Ed 306) #14151, eff 12-13-24