,,ii #aac? ,,congress #a/ ,session ,s4 #aecb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,septemb] #ai1 #bjac,mrs4 ,murray introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,heal?1 ,education1 ,labor1 & ,p5sions ,a ,,bill ,to provide grants to promote f9ancial lit]acy4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,f9ancial & ,economic ,lit]acy ,improvem5t ,act ( #bjac4 #b4 ,f9ancial lit]acy education grants 7a7 ,9 g5]al ,"p ,d ( title ,v ( ! ,elem5t>y & ,second>y ,education ,act ( #aife 7#bj ,u4,s4,c4 #gbda et seq47 is am5d$ by ins]t+ aft] section #eecg ! foll[+3 #ac;,a ,f9ancial lit]acy education #eech4 ,f9ancial lit]acy education grants 7a7 ,au?orization ,! ,secret>y %all aw>d grants to eligible entities to enable su* entities-- 7#a7 to aw>d subgrants to local entities to provide f9ancial lit]acy education2 & 7#b7 to c>ry out activities design$ to promote f9ancial lit]acy education4 7b7 ,def9ition ( eligible entity ,9 ?is section1 ! t]m eligible entity means-- 7#a7 a ,/ate educational ag5cy2 or 7#b7 a ,/ate p>tn]%ip consi/+ (-- 7,a7 a ,/ate educational ag5cy2 & 7,b7 a nonpr(it organization ) exp]i5ce & a prov5 quality track record 9 f9ancial lit]acy or p]sonal f9ance education programs4 7c7 ,application ,an eligible entity t desires to receive a grant "u ?is section %all submit an application to ! ,secret>y at su* "t1 9 su* mann]1 & accompani$ by su* in=mation z ! ,secret>y may require4 7d7 ,=mula ,f ! total am\nt appropriat$ "u subsection 7g7 = a fiscal ye>1 ! ,secret>y %all allot to ea* ,/ate = su* fiscal ye> an am\nt t be>s ! same relation to su* total am\nt z ! am\nt su* ,/ate receiv$ "u "p ,a ( title ,i = su* fiscal ye> be>s to ! total am\nt receiv$ by all ,/ates "u "p ,a ( title ,i = su* fiscal ye>4 7e7 ,use ( funds 7#a7 ,subgrants to eligible local entities 7,a7 ,eligible local entity ,9 ?is section1 ! t]m eligible local entity means-- 7i7 a local educational ag5cy2 or 7ii7 a local p>tn]%ip consi/+ (-- 7,i7 a local educational ag5cy2 & 7,,ii7 n less ?an "o ( ! foll[+3 7aa7 ,a nonpr(it organization ) exp]i5ce & a prov5 track record 9 quality f9ancial lit]acy or p]sonal f9ance education programs4 7bb7 ,an educational s]vice ag5cy4 7cc7 ,a recipi5t ( an ,excell5ce 9 ,economic ,education grant "u subp>t #ac4 7dd7 ,an in/itution ( high] education4 7ee7 ,a community organization4 7ff7 ,a repres5tative ( local bus9ess4 7,b7 ,au?orization ( subgrants ,an eligible entity t receives a grant "u ?is section %all use #ge p]c5t ( su* grant funds to aw>d subgrants to eligible local entities4 7,c7 ,applications 7i7 ,9 g5]al ,an eligible local entity t desires to receive a subgrant "u ?is p>agraph %all submit an application to ! eligible entity at su* "t1 9 su* mann]1 & accompani$ by su* in=mation z ! eligible entity may require4 7ii7 ,review ( applications ,! eligible entity %all review applications submitt$ "u clause 7i7 9 ! same mann] z applications are review$ "u section #eecd7;b74 7,d7 ,use ( funds ,an eligible local entity t receives a subgrant "u ?is p>agraph-- 7i7 %all use ! subgrant funds to-- 7,i7 implem5t tea*] tra9+ programs to emb$ f9ancial lit]acy & p]sonal f9ance education into core academic subjects2 7,,ii7 adm9i/] f9ancial lit]acy assessm5ts on n less ?an an annual basis 91 at a m9imum1 ! grade levels select$ by ! ,/ate pursuant to p>agraph 7#b77;,a72 & 7,,iii7 implem5t f9ancial lit]acy activities & sequ5ces ( /udy )9 core academic subjects2 & 7ii7 may use ! subgrant funds to implem5t s*ool-bas$ activities1 includ+ aft] s*ool activities1 to enhance /ud5t und]/&+ & exp]i5tial le>n+ ) consum]1 economic1 & p]sonal f9ance concepts4 7,e7 ,report ,an eligible local entity t receives a subgrant "u ?is p>agraph %all include 9 ! annual report c>d "u section #aaaa7;h77#b7 ! same in=mation on /ud5t a*ievem5t on ! f9ancial lit]acy assessm5ts1 adm9i/]$ pursuant to subp>agraph 7,d71 z requir$1 pursuant to section #aaaa7;h77#b71 ( ! o!r ,/ate academic assessm5ts describ$ 9 section #aaaa7;b77#c74 7#b7 ,/ate activities ,an eligible entity t receives a grant "u ?is section %all use #be p]c5t ( su* grant funds to c>ry out ! foll[+3 7,a7 ,! developm5t ( f9ancial lit]acy /&>ds 9 n less ?an #c grade levels1 includ+ n less ?an #a grade level 9 elem5t>y s*ool1 n less ?an #a grade level 9 middle s*ool1 & n less ?an #a grade level 9 high s*ool4 7,b7 ,! developm5t ( appropriate f9ancial lit]acy assessm5ts 9 ! grade levels det]m9$ "u subp>agraph 7,a7 t are valid1 reliable1 & comp>able across ! ,/ate4 7,c7 ,tea*] pr(essional developm5t programs to emb$ f9ancial lit]acy or p]sonal f9ance education into core academic subjects4 7,d7 ,an evaluation ( ! impact ( f9ancial lit]acy or p]sonal f9ance education on /ud5ts' und]/&+ ( f9ancial lit]acy concepts4 7f7 ,mat*+ funds ,an eligible entity t receives a grant "u ?is section %all provide1 f non-,f$]al s\rces1 an am\nt equal to #be p]c5t ( ! am\nt ( ! grant aw>d to c>ry out activities requir$ "u ?is section4 7g7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ to c>ry out ?is section #abe1jjj1jjj = ea* ( fiscal ye>s #bjad ?r\gh #bjai4 4 7b7 ,table ( cont5ts ,! table ( cont5ts 9 section #b ( ! ,elem5t>y & ,second>y ,education ,act ( #aife is am5d$ by ins]t+ aft] ! item relat+ to section #eecg ! foll[+3 ,subp>t #ac;,a--,f9ancial lit]acy education,sec4 #eech4 ,f9ancial lit]acy education grants4 4 #c4 ,grants to promote po/second>y f9ancial lit]acy ,"p ,a ( title ,,iii ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajeg et seq47 is am5d$ by add+ at ! end ! foll[+3 #cbj;,a4 ,grants to promote po/second>y f9ancial lit]acy 7a7 ,au?orization ( grant aw>ds ,! ,secret>y %all aw>d grants1 on a competitive basis1 to eligible entities to enable su* entities to provide f9ancial lit]acy c\rses or c\rse compon5ts to /ud5ts4 7b7 ,def9ition ( eligible entity ,9 ?is section1 ! t]m eligible entity means-- 7#a7 an in/itution ( high] education2 or 7#b7 a p>tn]%ip consi/+ (-- 7,a7 an in/itution ( high] education2 & 7,b7 a nonpr(it organization ) exp]i5ce & a prov5 track record 9 quality f9ancial lit]acy or p]sonal f9ance education programs4 7c7 ,application ,an eligible entity t desires to receive a grant "u ?is section %all submit an application to ! ,secret>y at su* "t1 9 su* mann]1 & accompani$ by su* in=mation z ! ,secret>y may require4 7d7 ,m9imum grant am\nt ,! ,secret>y %all aw>d grants "u ?is section 9 am\nts ( n less ?an #ejj1jjj4 7e7 ,use ( funds ,an eligible entity t receives a grant "u ?is section %all use ! grant funds to develop & implem5t f9ancial lit]acy education1 activities1 /ud5t organizations1 or c\nsel+ t increase /ud5t k 9 consum]1 economic1 & p]sonal f9ancial concepts4 7f7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ to c>ry out ?is section #abe1jjj1jjj = fiscal ye> #bjad & ea* succe$+ fiscal ye>4 4