SF 2865

as introduced - 89th Legislature (2015 - 2016) Posted on 04/26/2016 09:16am

A bill for an act
relating to education; funding competitive grants to increase the financial literacy
of girls and women of color; appropriating money; requiring a report.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin COMPETITIVE GRANT PROGRAMS TO INCREASE THE
FINANCIAL LITERACY OF GIRLS OF COLOR.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the terms defined in
this subdivision have the meanings given.
new text end

new text begin (b) "Commissioner" means the commissioner of education.
new text end

new text begin (c) "Eligible organization" means community-based organizations able to help
girls or women of color become financially literate, Minnesota public elementary and
secondary schools and postsecondary institutions offering financial literacy instruction
and curricula, and other Minnesota organizations experienced in helping girls or women
of color become financially literate, consistent with this section.
new text end

new text begin (d) "Financial literacy" means the knowledge and understanding needed to make
responsible and appropriate personal financial decisions.
new text end

new text begin (e) "Girls of color" means females through age 17 who self-identify as American
Indian, Asian, Black, or Hispanic.
new text end

new text begin (f) "Women of color" means females age 18 and older who self-identify as American
Indian, Asian, Black, or Hispanic.
new text end

new text begin Subd. 2. new text end

new text begin Grants. new text end

new text begin The commissioner shall award competitive grants, to the extent
funds are available, on a first-come, first-served basis to eligible organizations to help girls
and women of color gain financial literacy. The commissioner must award at least two
grants to eligible organizations serving girls or women of color in Ramsey County, and
at least one of these grant recipients must serve girls of color in secondary school. The
commissioner also must award at least two grants to eligible organizations serving girls or
women of color in greater Minnesota, and at least one of these grant recipients must serve
girls of color in secondary school. The eligible organizations receiving a grant must use
grant funds to increase the financial literacy of girls and women of color. Instruction in
financial literacy must be culturally specific and provided in the primary language of the
girls or women of color receiving the instruction.
new text end

new text begin Subd. 3. new text end

new text begin Report. new text end

new text begin By January 15, 2019, the commissioner must submit a written
report to the committees of the legislature with jurisdiction over kindergarten through
grade 12 education containing information about the competitive grant program design,
activities, expenditures, and outcomes disaggregated by categories of race, cultural
group, family income, age, grade level, school district, geographical location, migrant,
foreign immigrant, home language, English learner status under Minnesota Statutes,
section 124D.59, disability, homelessness, and foster care, to the extent the information
is available and no individual can be personally identified from the information. The
commissioner must include in the report recommendations for a model program to
increase the financial literacy of girls and women of color in Minnesota.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2016.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin $....... in fiscal year 2017 is appropriated from the general fund to the commissioner
of education for a competitive grant program to increase the financial literacy of girls and
women of color under section 1. This is a onetime appropriation and is available until
expended.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for fiscal year 2017.
new text end