(Meredith) – A South Carolina lawmaker is proposing a new bill that would require high school students in the state to take a personal finance class.

Under the legislation from Sen. Luke Rankin (R-Conway), the students would also need to pass a course-related exam at the end of the school year in order to graduate.

The bill is currently sitting in the state Senate Education Committee.

If it passes the statehouse, the South Carolina Department of Education would be tasked with developing a new curriculum for the course by July 1, 2020. The requirement would then take effect at the start of the 2020-2021 school year.