Bill Summary – FastDemocracy

H-2902.1
                           SUBSTITUTE HOUSE BILL 1915
     State of Washington         68th Legislature       2024 Regular Session
     By House Education (originally sponsored by Representatives Rude,
     Stonier, Connors, Riccelli, Couture, Senn, McEntire, Santos, Steele,
     Bergquist, Harris, Walen, McClintock, Eslick, Cheney, Thai, Ortiz-
     Self, Bronoske, Leavitt, Corry, Tharinger, Low, Ryu, Christian,
     Slatter, Schmidt, Ramel, Barkis, Ramos, Cortes, Morgan, Reed, Graham,
     Ormsby, Barnard, Jacobsen, Fey, Timmons, Callan, Rule, Street, Chopp,
     Doglio, Sandlin, Goodman, Caldier, Berg, Robertson, Wylie, Hutchins,
     Reeves, Lekanoff, Shavers, Davis, and Griffey)
     READ FIRST TIME 01/29/24.
      AN ACT Relating to making financial education instruction a
  graduation prerequisite and a required component of public education;
  amending RCW 28A.300.468; 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.    (1) The legislature recognizes that
 acquiring and applying a basic knowledge of personal finance is
 critical to the economic well-being of all adults. Without this
 knowledge, persons are much less well equipped to navigate the
 complicated financial issues of modern life, including household
 budgets, consumer debt, loan applications and obligations, and
 successful retirement planning.
     (2) The legislature also recognizes that it has taken meaningful
 steps to support financial education instruction in public schools,
 including   establishing   the   financial  education public-private
 partnership in 2004, adopting financial education learning standards
 in 2015, and providing funds in 2022 for financial education
 professional development for certificated staff.
     (3) In recognition of the relevance and importance of personal
 finance knowledge, the ongoing efforts of the financial education
 public-private partnership, and the ability of public schools to
                                       p. 1                         SHB 1915
  teach or continue teaching financial education instruction, the
  legislature intends to ensure that all Washington students are
  provided financial education instruction. Therefore, the legislature
  intends to make financial education instruction a graduation
  prerequisite and a required component of public education: (a) While
  maximizing flexibility for school districts to implement the
  instruction in a manner that recognizes their local circumstances;
  and (b) without increasing the number of credits the state requires
  for graduating students.
     Sec. 2. RCW 28A.300.468 and 2015 c 211 s 4 are each amended to
 read as follows:
     (((1))) After consulting with the financial education public-
 private partnership, the office of the superintendent of public
 instruction shall make available to all school districts a list of
 instructional materials that align with the financial education
 learning standards ((integrated into the state learning standards
 pursuant to RCW 28A.300.460(2)(d).
     (2) School districts shall provide all students in grades nine
 through twelve the opportunity to access the financial education
 standards, whether through a regularly scheduled class period; before
 or after school; during lunch periods; at library and study time; at
 home; via online learning opportunities; through career and technical
 education course equivalencies; or other opportunities. School
 districts shall publicize the availability of financial education
 opportunities to students and their families. School districts are
 encouraged to grant credit toward high school graduation to students
 who successfully complete financial education courses)) adopted in
 RCW 28A.300.469.
     NEW SECTION. Sec. 3. A new section is added to chapter 28A.230
 RCW to read as follows:
     (1)(a) Beginning in or before the 2027-28 school year, each
 school district that operates a high school shall provide all high
 school students with access to no less than one-half credit of
 financial education instruction.
     (b) Beginning with the graduating class of 2031, each student
 graduating from a public high school must earn no less than one-half
 credit of financial education instruction.
                                     p. 2                         SHB 1915
     (c) The content and instruction required by this subsection (1)
 may be provided in stand-alone courses or embedded into other courses
 and subject areas.
     (d) Instruction provided in accordance with this subsection (1)
 must conform with the state financial education learning standards
 adopted in RCW 28A.300.469.
     (2)(a) By December 15, 2025, school districts shall submit to the
 state board of education and the financial education public-private
 partnership established in RCW 28A.300.450:
     (i) A list of the financial education instruction courses,
 graduation requirements, and credit requirements implemented for
 students during or prior to the 2024-25 school year;
     (ii) A description of the school district actions and other
 considerations necessary to implement this section; and
     (iii) A plan and timeline for providing students with the ability
 to meet the graduation requirement in subsection (1)(b) of this
 section.
     (b) The financial education public-private partnership shall
 analyze the information provided under (a) of this subsection and
 create a statewide implementation plan for the requirements of this
 section. The plan, which must be submitted to the office of the
 superintendent of public instruction, the state board of education,
 and, in accordance with RCW 43.01.036, the appropriate committees of
 the legislature by September 30, 2026, may include recommendations
 for additional funding for grants to integrate financial literacy
 education into professional development for certificated staff and
 other school district resources in accordance with submissions
 provided under (a) of this subsection.
     (3) Beginning no later than the 2027-28 school year, school
 districts shall publicize the offering of financial education
 instruction, and the associated graduation requirement, to students
 and their parents or legal guardians.
     (4) Principals may waive the graduation requirement established
 in subsection (1)(b) of this section for students who resided outside
 of the state for six or more consecutive months during any part of
 grades nine through 12. Waivers provided in accordance with this
 subsection (4) may only be issued on an individual basis and only for
 students in grade 12.
     (5)(a) The state board of education shall review and monitor
 financial education offerings to ensure school district compliance
                                     p. 3                         SHB 1915
 with the requirements of subsection (1)(a) of this section. The
 reviews and monitoring required by this subsection (5) may be
 conducted concurrently with other oversight and monitoring conducted
 by the state board of education.
     (b) The state board of education, in accordance with RCW
 43.01.036, shall provide a summary of the information collected under
 this subsection (5) for school years 2027-28 and 2028-29 to the
 appropriate committees of the legislature by January 10, 2030.
     (6) This section governs school operation and management under
 RCW 28A.710.040 and 28A.715.020, and applies to charter schools
 established under chapter 28A.710 RCW and state-tribal education
 compact schools subject to chapter 28A.715 RCW to the same extent as
 it applies to school districts.
                                  --- END ---
                                     p. 4                         SHB 1915
Statutes affected: 
Original Bill: 28A.300.468
Substitute Bill: 28A.300.468