BILL REQ. #:  H-1129.2 

Read first time 01/26/09.   Referred to Committee on Education.

     AN ACT Relating to including financial education in social studies courses required for high school graduation; adding a new section to chapter 28A.230 RCW; and creating a new section.

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

NEW SECTION.  Sec. 1   The legislature finds that a lack of statewide learning standards for financial literacy and personal financial education has resulted in inconsistent teaching techniques, curriculum, and assessment of student competencies. In 2008, Washington high school seniors could correctly answer fewer than half of the questions on a nationally administered survey on personal money management. Standards have been developed by national organizations with expertise in personal financial education and should be reviewed and considered for statewide adoption in Washington. However, to minimize additional burden on school districts and students, instruction in financial literacy and personal financial education should be included within an expansion of graduation requirements rather than separately imposed.

NEW SECTION.  Sec. 2   A new section is added to chapter 28A.230 RCW to read as follows:
     The state board of education shall convene a temporary work group to examine available financial literacy and personal financial education learning standards and shall recommend a set of standards for adoption by the superintendent of public instruction. The work group shall also advise the state board of education on the minimum content to be required of all high school graduates. The temporary work group must consist of representatives from the office of the superintendent of public instruction, the department of financial institutions, the financial literacy public-private partnership, and educators and representatives of the private financial sector with expertise in financial education.
     The superintendent of public instruction shall adopt essential academic learning requirements and grade level expectations for financial literacy and personal financial education based on the recommendations from the state board of education. The superintendent of public instruction shall also develop and disseminate to school districts for voluntary use, classroom-based assessments that measure student performance on the essential academic learning requirements and grade level expectations.
     By July 1, 2010, the state board of education shall, under RCW 28A.230.090, amend the high school graduation requirement to include instruction in financial literacy and personal financial education. The requirement must permit the instruction as part of social studies, career and technical education, or mathematics coursework.