6219 AMH ED REAM 114
SB 6219 - H COMM AMD
By By Committee on Education
ADOPTED 3/7/2006
On page 2, after line 5, insert the following:
"Sec. 3. RCW 28A.300.455 and 2004 c 247 s 3 are each amended
to read as follows:
(1) By September 30, 2004, the financial literacy
public-private partnership shall adopt a definition of financial
literacy to be used in educational efforts.
(2) By June 30, ((2005)) 2007, the financial literacy
public-private partnership shall identify strategies to increase
the financial literacy of public school students in our state. To
the extent funds are available, strategies to be considered by the
partnership shall include, but not be limited to:
(a) Identifying and making available to school districts:
(i) Important financial literacy skills and knowledge;
(ii) Ways in which teachers at different grade levels may
integrate financial literacy in mathematics, social studies, and
other course content areas;
(iii) Instructional materials and programs, including
schoolwide programs, that include the important financial literacy
skills and knowledge;
(iv) Assessments and other outcome measures that schools and
communities may use to determine whether students are financially
literate; ((and))
(v) A template and resource materials to aid districts in
guiding student culminating projects with a focus on personal
finance; and
(vi) Other strategies for expanding and increasing the quality
of financial literacy instruction in public schools, including
professional development for teachers;
(b) Developing a structure and set of operating principles for
the financial literacy public-private partnership to assist
interested school districts in improving the financial literacy of
their students by providing such things as financial literacy
instructional materials and professional development; ((and))
(c) Developing essential academic learning requirements for
personal finance;
(d) Preparing recommendations for the inclusion of financial
literacy principles in the Washington assessment of student
learning; and
(e) Providing a report to the governor, the house and senate
financial institutions and education committees of the legislature,
the superintendent of public instruction, the state board of
education, and education stakeholder groups, on the results of work
of the financial literacy public-private partnership. A final
report shall be submitted to the same parties by June 30,((2007))
2008.
Sec. 4. RCW 28A.300.460 and 2004 c 247 s 5 are each amended to
read as follows:
The task of the financial literacy public-private partnership
is to seek out and determine the best methods of equipping students
with the knowledge and skills they need, before they become
self-supporting, in order for them to make critical decisions
regarding their personal finances. The components of personal
financial literacy examined shall include, at a minimum, consumer
financial education, personal finance, and personal credit. The
partnership shall identify the types of outcome measures expected
from participating districts and students, in accordance with the
definitions and outcomes developed under RCW 28A.300.455.
NEW SECTION. Sec. 5. A new section is added to chapter
28A.230 RCW to read as follows:
(1) To the extent funds are appropriated or are available for
this purpose, the superintendent of public instruction and other
members of the partnership created in RCW 28A.300.455 shall make
available to school districts the list of identified financial
literacy skills and knowledge, instructional materials,
assessments, and other relevant information.
(2) For the purposes of RCW 28A.300.455, 28A.300.460, and this
section, it is not necessary to evaluate and apply the office of
the superintendent of public instruction essential academic
learning requirements or to develop grade level expectations.
NEW SECTION. Sec. 6. (1) The sum of fifty thousand dollars,
or as much thereof as may be necessary, is appropriated for the
fiscal year ending June 30, 2007, from the general fund to the
Washington financial literacy public-private partnership account
for the purposes of RCW 28A.300.465.
(2) The amount in this section is provided solely for the
purposes of RCW 28A.300.465. The superintendent of public
instruction or the superintendent's designee may authorize
expenditure of the amount provided in this section as equal
matching amounts from nonstate sources are received in the
Washington financial literacy public-private partnership account.
NEW SECTION. Sec. 7. This act is necessary for the immediate
preservation of the public peace, health, or safety, or support of
the state government and its existing public institutions, and
takes effect immediately."
Correct the title.
EFFECT: The Financial Literacy Public-Private Partnership
(Partnership) will complete its tasks by June 30, 2007. The Partnership is directed to consider four additional strategies for increasing financial literacy: (1) identifying and making available to school districts a template for resource materials to aid in guiding student culminating projects with a focus on personal finance; (2) developing essential academic learning requirements for personal finance; (3) preparing recommendations for including financial literacy principles in the Washington Assessment of Student Learning; and (4) and identifying the outcome measures expected from school districts participating in financial literacy education programs.
Fifty thousand dollars is appropriated from the State General Fund to the Partnership account for the fiscal year ending June 30, 2007. To the extent funds are appropriated or available, the Office of the Superintendent of Public Instruction (OSPI) and the Partnership must make available to school districts a list of financial literacy skills and knowledge, instructional materials, assessments, and other relevant information.