Resolve, To Encourage Personal and Family Financial Management Education
Maine Legislature, Session 122, LD 1318
Committee: Education and Cultural Affairs
Sponsors: SCHNEIDER, CUMMINGS, MERRILL, MITCHELL, TURNER

Legislative Document 
No. 1318 
H.P.916 
House of Representatives, March 15,2005 
Resolve, To Encourage Personal and Family Financial Management 
Education 
(EMERGENCY) 
Reference to the Committee on Education and Cultural Affairs suggested and ordered 
printed. 
Presented by Representati ve BOWEN of Rockport. 
Cosponsored by Senator SCHNEIDER of Penobscot and 
1J1~ 
1J?1J7ac~ 
MILLICENT M. MacFARLAND 
Clerk 
Representatives: CUMMINGS of Portland, MERRILL of Appleton, Senators: MITCHELL of 
Kennebec, TURNER of Cumberland. 
Printed on recycled paper 
Emergency preamble. 
Whereas, acts 
Legislature 
do 
not 
become 
effective 
adjournment unless enacted as emergencies; 
and 
until 
and 
resolves 
of 
the 
g,O 
days 
after 
Whereas. the State has seen a dramatic rise in the amount of 
unsecured personal debt and the number of personal bankruptcies 
and recognizes the importance of educating Maine people in the 
management of personal and family finances: and 
Whereas, this resolve establishes the Commission to Study 
the Scope and Quality of Personal and Family Financial Management 
Education; and 
Whereas, this resolve is necessary as 
to 
afford adequate 
time 
for 
the 
issues 
addressed by the commission; and 
an emergency measure 
to 
be 
appropriately 
Whereas, 
the 
study must 
be initiated before 
the 
gO-day 
period expires in order that the study may be completed and a 
report submitted in time for submission to the next legislative 
session: and 
Whereas, in the judgment of the Legislature, 
these facts 
create an emergency within the meaning of the Constitution of 
Maine 
and 
require 
the 
following 
legislation 
as 
immediately 
necessary for the preservation of the public peace, health and 
safety: now, therefore, be it 
Sec. 1. Commission established. Resolved: 
That the Commission 
to Study the Scope and Quality of Personal and Family Financial 
Management 
Education, 
referred 
to 
in 
this 
resolve 
as 
"the 
commission," is established: and be it further 
Sec. 2. Commission membership. Resolved: 
That the commission 
consists of 11 members appointed as follows: 
1. 
Two members of the Senate, appointed by the President of 
the Senate; 
2. 
Two members of the House of Representatives, appointed 
by the Speaker of the House: and 
3. 
Seven members appointed by the Governor as follows: 
A. 
One member who teaches personal finances in a Maine high 
school or community college: 
B. 
One representative of the Finance Authority of Maine: 
Page l-LR1227 (1) 
C. 
One representative of the Maine Bankers Association or 
the Maine Credit Union League; 
D. One member with experience in curriculum development in 
the field of personal and family financial management; 
E. 
One 
member 
representing 
a 
nonprofit credit counseling 
agency; 
F. 
One member representing a 
community action program or 
similar nonprofit organization who has experience with the 
financial matters of low-income people; and 
G. 
One 
member 
who 
financial 
education 
further 
is 
at 
involved in teacher 
the university level: 
training 
and be 
for 
it 
Sec. 3. Chairs. Resolved: 
That the first-named Senate member 
is the Senate chair of the commission and the first-named House 
of Representatives member is the House chair of the commission; 
and be it further 
Sec. 4. Appointments: convening of commission. Resolved: 
That 
all appointments must be made no later than 30 days following the 
effective date of this resolve. 
The appointing authorities shall 
notify the Executive Director of the Legislative Council once all 
appointments 
have 
been 
completed. 
Within 
days 
after 
appointment of all members, the chairs shall call and convene the 
first meeting of the commission; and be it further 
Sec. 5. Duties. Resolved: 
That the commission shall examine: 
1. 
The 
extent 
to 
which 
personal 
and 
family 
financial 
management is currently included in the visions, missions, values 
and practices of school administrative units and institutions of 
higher education in the State; 
2. 
National 
models 
for 
educational curricula 
preschool 
through 
college 
with 
the 
potential 
for 
students in the State to be financially literate; 
that cover 
preparing 
3. 
Models 
for 
making 
comprehensive 
personal 
and 
family 
financial management education available at the adult education, 
community college or other postsecondary level; and 
I 
4. Strategies for integrating financial management education 
into 
social 
services 
programs 
to 
ensure 
that 
the 
State's 
low-income residents receive skills training and education in 
financial management; and be it further 
Sec. 6. Stoff assistance. Resolved: 
That, upon approval of the 
Legislative Council, 
the Office of Policy and Legal Analysis 
shall provide necessary staffing services to the commission; and 
be it further 
Sec. 7. Compensation. Resolved: 
That the legislative members 
of the commission are entitled to receive the legislative per 
diem, as defined in the Maine Revised Statutes, Title 3, section 
2, 
and reimbursement for travel 
and other necessary expenses 
related 
to 
their 
attendance 
at 
authorized 
meetings 
of 
the 
commission. 
Public members not otherwise compensated by their 
employers or other entities that they represent are entitled to 
receive 
reimbursement 
of 
necessary 
expenses 
and, 
upon 
C\ 
demonstration of financial hardship, 
a per diem equal to the 
legislative per diem for their attendance at authorized meetings 
of the commission; and be it further 
Sec. 8. Report. Resolved: 
That, 
no later than December 3, 
2005, 
the commission shall submit a 
report that includes its 
findings 
and 
recommendations, 
including suggest.ed legislat.ion, 
for presentation to the Second Regular Session of the 122nd 
Legislature. 
The 
commission 
is 
authorized 
to 
introduce 
legislation related to its report to the Second Regular Session 
of the 122nd Legislature at the time of submission of its report; 
and be it further 
Sec. 9. Extension. Resolved: 
That. if the commission requires 
a limited extension of time to complete its study and make its 
report, it may apply to the Legislative Council, which may grant 
an extension; and be it further 
Sec. 10. Commission budget. Resolved: 
That the chairs of the 
commission, 
with assistance 
from 
the 
commission staff, shall 
administer the commission's budget. 
Within 10 days after its 
first meeting, 
the commission shall present a 
work plan and 
proposed budget to the Legislative Council for its approval. 
The 
commission 
may 
not incur expenses 
that would result in the 
commission's exceeding its approved budget. 
Upon request from 
the commission, the Executive Director of the Legislative Council 
shall promptly provide the commission chairs and staff with 
C\ 
status report on the commission budget, expenditures incurred and 
paid and available funds. 
Emergency clause. 
In view of the emergency cited in the 
preamble, this resolve takes effect when approved. 
SUMMARY 
This resolve establishes the Commission to Study the Scope 
and Quality of Personal and Family Financial Management Education.