,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hdhf  ,,in ,,the ,,house ,,of  
,,representatives  ,october #a1 #bjbj   
,mr4 ,gallagher introduced the following
 bill2 which was referred to the        
,committee on ,education and ,labor  ,a 
,,bill  ,to establish a competitive     
grant program to increase financial     
literacy instruction in elementary      
schools and secondary schools4  #a4     
,short title ,this ,act may be cited as 
the ,student ,empowerment and ,financial
 ,literacy ,act4  #b4 ,financial        
literacy grant program  7a7 ,in general 
,the ,secretary shall award grants on a 
competitive basis to eligible entities  
for the purposes of promoting new and   
existing strategies to expand1 develop1 
implement1 evaluate1 and disseminate for
 voluntary use innovative approaches or 
professional development programs in    
financial literacy for elementary school
 and secondary school students1 that--  
7#a7 show potential to improve student  
awareness of personal finance topics2   

7#b7 show potential to improve teaching 
of such topics1 including by training   
teachers and instructors to teach such  
topics2 and  7#c7 demonstrate           
innovation1 scalability1 accountability1
 and a focus on underbanked populations4
  7b7 ,applications ,in order to receive
 a grant under this ,act1 an eligible   
entity shall submit an application to   
the ,secretary at such time and in such 
manner1 and containing such information1
 as the ,secretary may reasonably       
require4  7c7 ,program periods and      
diversity of projects  7#a7 ,grant      
period ,a grant awarded under this ,act 
shall be awarded for a period of not    
more than #c years4  7#b7 ,reapplication
 ,in a case in which an eligible entity 
submits an application under subsection 
7b71 and is not awarded a grant under   
this ,act--  7,a7 the ,secretary shall  
provide to such eligible entity-- 7i7 an
 explanation for the denial of such     
grant2 and  7ii7 any suggestions for    
improvements to the application the     

eligible entity should make to be       
eligible for such a grant2 and  7,b7 the
 eligible entity may resubmit such      
application after receipt of the        
explanations and suggestions under      
subparagraph 7,a74  7#c7 ,renewal ,the  
,secretary may renew a grant awarded    
under this ,act for one additional      
#b-year period for an eligible entity   
that demonstrates the success of the    
program funded under the grant1 such as 
through student1 parent1 teacher or     
satisfaction1 or program efficacy4  7#d7
 ,priority ,in awarding grants under    
this ,act1 the ,secretary shall award   
grants to eligible entities that will   
use the grant to provide programs that  
account for diverse student and         
community needs1 including any need for 
electronic and written materials1       
broadband or connectivity1 multiple     
languages1 and assistance for students  
with disabilities4  7#e7 ,diversity of  
projects ,in awarding grants under this 
,act1 the ,secretary shall ensure that1 

to the extent practicable1 grants are   
distributed among eligible entities that
 will serve-- 7,a7 geographically       
diverse areas1 including urban1         
suburban1 and rural areas2 and  7,b7    
diverse types of elementary schools and 
secondary schools4  #c4 ,definitions ,in
 this ,act3  7#a7 ,elementary school    
,the term elementary school has the     
meaning given such term in section #haja
 of the ,elementary and ,secondary      
,education ,act of #aife 7#bj ,u4,s4,c4 
#ghja7ai771 and includes a home school  
that provides elementary education1 as  
such terms are defined under ,state law4
  7#b7 ,eligible entity  7,a7 ,in       
general ,the term eligible entity means 
an entity--  7i7 with demonstrated      
expertise in the development of         
strategies designed to improve          
understanding of personal finance topics
 among elementary school or secondary   
schools students2 and  7ii7 that may be 
in a partnership with a community group1
 financial institution1 or another      

educational entity4  7,b7 ,demonstrated 
expertise ,in this paragraph1 the term  
demonstrated expertise includes         
expertise demonstrated through          
post-program performance data 7such as  
post-program review by parents1         
teachers1 and students that shows       
demonstrated learning and efficacy of   
program1 and post-program student       
work-product that demonstrates real     
learning74  7#c7 ,personal finance      
topics ,the term personal finance topics
 includes bank accounts1 credit union   
accounts1 credit and debit cards1 online
 banking1 mobile payment services1      
student loans1 taxes1 mortgages1 credit 
reports1 debt management1 investing1    
lending1 retirement planning1           
trade-offs1 the power of compound       
interest1 and saving4  7#d7 ,secondary  
school ,the term secondary school has   
the meaning given such term in section  
#haja of the ,elementary and ,secondary 
,education ,act of #aife 7#bj ,u4,s4,c4 
#ghja7de771 and includes a home school  

that provides secondary education1 as   
such terms are defined under ,state law4
  7#e7 ,secretary ,the term ,secretary  
means the ,secretary of ,education4