Declares it is the goal of the state that by 2020: (1) Ninety-five percent of students must graduate from high school in four years; and

(2) Sixty percent of youth who have dropped out of school must be reengaged in education and be college and work ready.

Requires the state board of education to: (1) Establish annual graduation rate targets for schools and school districts in order to meet the graduation rate goal;

(2) Establish annual targets for youth who have dropped out of school in order to meet the reengagement goal; and

(3) In consultation with the office of the superintendent of public instruction, make recommendations to the legislature on a focused assistance program and incentives for school districts to improve their high school graduation rate.

Requires the workforce training and education coordinating board, the state board for community and technical colleges, the employment security department, the department of community, trade, and economic development, the department of health, the department of social and health services, and the family policy council to collaborate with other state agencies and organizations to meet state graduation rate goals and help reduce the dropout rate.