Authorizing the state bank commissioner to establish a nonprofit organization incorporated under the laws of Kansas to provide charitable consumer financial education initiatives in Kansas.

SB 316 authorizes Kansas' state bank commissioner to create a Kansas-incorporated nonprofit organization focused on providing free consumer financial education to Kansans. The nonprofit can directly offer financial literacy programs, fund other nonprofit education efforts, provide education scholarships, or invest idle funds - all funded through public donations, fines from enforcement actions (paid as donations instead of fines), and settlement funds. The nonprofit must operate without paid staff, own no property beyond educational materials, and cannot engage in political activities. It will be governed by a volunteer board appointed initially by the commissioner, with no state agency status.