6272 AMH PRIE H5367.1

SB 6272  - H AMD992
     By Representative Priest

FAILED 02/06/2008

     Strike everything after the enacting clause and insert the following:

"NEW SECTION.  Sec. 1   A new section is added to chapter 43.320 RCW to read as follows:
     The director of financial institutions or the director's designee shall:
     (1) Disseminate information to the public concerning the laws regulating financial institutions of this state; and
     (2) Provide assistance to members of the public in obtaining information about financial products and consumer financial counseling available in the state.

Sec. 2   RCW 28A.300.460 and 2007 c 459 s 2 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, and homeownership. 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. 3   The sum of one million five hundred thousand dollars, or as much thereof as may be necessary, is appropriated for the fiscal year ending June 30, 2008, from the general fund to the financial literacy public-private partnership account for the purpose of implementing this act."

     Correct the title.

EFFECT:  Language regarding consumer assistance is modified. There is an appropriation of one million five hundred thousand dollars to the financial literacy public-private partnership account. Provisions regarding the department of financial institutions creating education and outreach programs are removed. The appropriations to the department of financial institutions are removed. The emergency clause is removed.

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