BILL REQ. #:  H-1126.1 

Read first time 01/26/11.   Referred to Committee on Education.

     AN ACT Relating to the membership and work of the financial education public-private partnership; and amending RCW 28A.300.450 and 28A.300.462.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 28A.300.450 and 2009 c 443 s 1 are each amended to read as follows:
     (1) A financial education public-private partnership is established, composed of the following members:
     (a) Four members of the legislature, with one member from each caucus of the house of representatives appointed for a two-year term of service by the speaker of the house of representatives, and one member from each caucus of the senate appointed for a two-year term of service by the president of the senate;
     (b) Four representatives from the private for-profit and nonprofit financial services sector, including at least one representative from the jumpstart coalition, to be appointed for a staggered two-year term of service by the governor;
     (c) Four teachers to be appointed for a staggered two-year term of service by the superintendent of public instruction, with one each representing the elementary, middle, secondary, and postsecondary education sectors;
     (d) A representative from the department of financial institutions to be appointed for a two-year term of service by the director;
     (e) Two representatives from the office of the superintendent of public instruction, with one involved in curriculum development and one involved in teacher professional development, to be appointed for a staggered two-year term of service by the superintendent.
     (2) The chair of the partnership shall be selected by the members of the partnership from among the legislative members.
     (3) One-half of the members appointed under subsections (1)(b), (c), and (e) of this section shall be appointed for a one-year term beginning August 1, 2011, and a two-year term thereafter.
     (4) To the extent funds are appropriated or are available for this purpose, the partnership may hire a staff person who shall reside in the office of the superintendent of public instruction for administrative purposes. Additional technical and logistical support may be provided by the office of the superintendent of public instruction, the department of financial institutions, the organizations composing the partnership, and other participants in the financial education public-private partnership.
     (((4))) (5) The members of the partnership shall be appointed by August 1, ((2009)) 2011.
     (((5))) (6) Legislative members of the partnership shall receive per diem and travel under RCW 44.04.120.
     (((6))) (7) Travel and other expenses of members of the partnership shall be provided by the agency, association, or organization that member represents.
     (((7))) (8) This section shall be implemented to the extent funds are available.

Sec. 2   RCW 28A.300.462 and 2009 c 443 s 3 are each amended to read as follows:
     (1) Subject to funds appropriated to support school districts with curriculum and professional development to implement the financial education learning standards, the jumpstart coalition national standards in K-12 personal finance education are adopted as the essential academic learning requirements for financial education. If funds are not appropriated for school districts to implement the financial education standards, school districts are encouraged to adopt the standards voluntarily and provide students with an opportunity to master the standards.
     (2) Subject to funds appropriated specifically for this purpose, the office of the superintendent of public instruction and the financial education public-private partnership shall provide technical assistance and grants to support demonstration projects for district-wide adoption and implementation of the financial education learning standards under this section.
     (((2))) (3) School districts may apply on a competitive basis to participate as a demonstration project. The office and the partnership shall select up to four school districts as demonstration projects, with two districts located in eastern Washington and two districts located in western Washington, if possible.
     (((3))) (4) Selected districts must:
     (a) Adopt the jumpstart coalition national standards in K-12 personal finance education as the essential academic learning requirements for financial education and provide students with an opportunity to master the standards;
     (b) Make a commitment to integrate financial education into instruction at all grade levels and in all schools in the district;
     (c) Establish local partnerships within the community to promote financial education in the schools; and
     (d) Conduct pre and posttesting of students' financial literacy.
     (((4))) (5) The office of the superintendent of public instruction, with the advice of the financial education public-private partnership, shall provide assistance to the demonstration projects regarding curriculum, professional development, and innovative instructional programs to implement the financial education standards.
     (((5))) (6) The selected districts must report findings and results of the demonstration project to the office of the superintendent of public instruction and appropriate committees of the legislature ((by April 30, 2011)) annually.