Z-0493.2
SENATE BILL 5819
State of Washington 68th Legislature 2024 Regular Session
By Senators Valdez, Boehnke, Gildon, Hasegawa, Keiser, Kuderer,
Lovick, Nobles, Saldaña, Torres, and C. Wilson; by request of State
Treasurer
Prefiled 12/08/23. Read first time 01/08/24. Referred to Committee
on Early Learning & K-12 Education.
1 AN ACT Relating to making financial education instruction a
2 graduation prerequisite and a required component of public education;
3 amending RCW 28A.300.468; adding a new section to chapter 28A.230
4 RCW; and creating a new section.
5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
6 NEW SECTION. Sec. 1. (1) The legislature recognizes that
7 acquiring and applying a basic knowledge of personal finance is
8 critical to the economic well-being of all adults. Without this
9 knowledge, persons are much less well equipped to navigate the
10 complicated financial issues of modern life, including household
11 budgets, consumer debt, loan applications and obligations, and
12 successful retirement planning.
13 (2) The legislature also recognizes that it has taken meaningful
14 steps to support financial education instruction in public schools,
15 including establishing the financial education public-private
16 partnership in 2004, adopting financial education learning standards
17 in 2015, and providing funds in 2022 for financial education
18 professional development for certificated staff.
19 (3) In recognition of the relevance and importance of personal
20 finance knowledge, the ongoing efforts of the financial education
21 public-private partnership, and the ability of public schools to
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1 teach or continue teaching financial education instruction, the
2 legislature intends to ensure that all Washington students are
3 provided financial education instruction. Therefore, the legislature
4 intends to make financial education instruction a graduation
5 prerequisite and a required component of public education: (a) While
6 maximizing flexibility for school districts to implement the
7 instruction in a manner that recognizes their local circumstances;
8 and (b) without increasing the number of credits the state requires
9 for graduating students.
10 Sec. 2. RCW 28A.300.468 and 2015 c 211 s 4 are each amended to
11 read as follows:
12 (((1))) After consulting with the financial education public-
13 private partnership, the office of the superintendent of public
14 instruction shall make available to all school districts a list of
15 instructional materials that align with the financial education
16 learning standards ((integrated into the state learning standards
17 pursuant to RCW 28A.300.460(2)(d).
18 (2) School districts shall provide all students in grades nine
19 through twelve the opportunity to access the financial education
20 standards, whether through a regularly scheduled class period; before
21 or after school; during lunch periods; at library and study time; at
22 home; via online learning opportunities; through career and technical
23 education course equivalencies; or other opportunities. School
24 districts shall publicize the availability of financial education
25 opportunities to students and their families. School districts are
26 encouraged to grant credit toward high school graduation to students
27 who successfully complete financial education courses)) adopted in
28 RCW 28A.300.469.
29 NEW SECTION. Sec. 3. A new section is added to chapter 28A.230
30 RCW to read as follows:
31 (1)(a) Beginning in or before the 2025-26 school year, each
32 school district that operates a high school shall provide high school
33 students with access to no less than one-half credit of financial
34 education instruction.
35 (b) Beginning with the graduating class of 2029, the earning by
36 each student of no less than one-half credit of financial education
37 instruction is a prerequisite to graduation from a public high
38 school.
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 1 (c) The content and instruction required by (a) and (b) of this
2 subsection (1) may be provided in stand-alone courses or embedded
3 into other courses and subject areas.
4 (2)(a) By December 15, 2024, school districts shall submit to the
5 state board of education a plan and timeline for providing students
6 with the ability to meet the requirement in subsection (1)(b) of this
7 section.
8 (b) If a school district, on or before September 1, 2023,
9 requires students to earn no less than one-half credit of financial
10 education as a graduation prerequisite, the district, instead of
11 submitting a plan and timeline, must submit notice to the state board
12 of education specifying how they are providing students with the
13 ability to meet the requirement in subsection (1)(b) of this section.
14 (c) Materials received by the state board of education under this
15 subsection (2) must be posted on their website.
16 (3) In addition to the requirements in subsections (1) and (2) of
17 this section, beginning in or before the 2026-27 school year, school
18 districts must provide financial education instruction to all public
19 school students in elementary and middle school grades. The
20 instruction required by this subsection (3) must be provided no less
21 than:
22 (a) Twice to students while they are in any of the grades of
23 kindergarten through three;
24 (b) Twice to students while they are in grades four or five; and
25 (c) Four times to students while they are in any of the grades of
26 six through eight, or grades six through nine if grade nine is not
27 offered at the applicable high school.
28 (4) Beginning no later than the 2025-26 school year, school
29 districts shall publicize the offering of financial education
30 instruction, and the associated graduation prerequisite, to students
31 and their parents or legal guardians.
32 (5) Instruction provided in accordance with this section must
33 conform with the financial education learning standards adopted in
34 RCW 28A.300.469.
35 (6) This section governs school operation and management under
36 RCW 28A.710.040 and 28A.715.020, and applies to charter schools
37 established under chapter 28A.710 RCW and state-tribal education
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1 compact schools subject to chapter 28A.715 RCW to the same extent as
2 it applies to school districts.
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Statutes affected:
Original Bill: 28A.300.468