Finds that the focus of college-readiness standards for students has been on courses and credits. It is the legislature's intent to change the focus of college-readiness to student skills and abilities.

Requires the higher education coordinating board to report to appropriate committees of the legislature on the progress and status of the project in this section by March 1, 2007. The report shall identify any barriers encountered by the project.

Requires the higher education coordinating board to submit a final report to appropriate committees of the legislature by December 1, 2007. The report shall identify the skills and abilities necessary for students to enter and succeed in postsecondary education.