SB 6272 -
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.