,i #aag? ,,congress #b;d ,session ,h4 ,r4 #ibgb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,novemb] #c1 #bjbb,mr4 ,david ,scott ( ,georgia 7= himself1 ,mr4 ,l\d]milk1 ,ms4 ,dean1 ,mr4 ,hill1 & ,mrs4 ,beatty7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to e/abli% an aw>d allocation to facilitate f9ancial lit]acy programs1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,consum] ,f9ancial ,education & ,emp[]m5t ,act4 #b4 ,f9ancial lit]acy aw>d allocation program 7a7 ,9 g5]al ,! ,consum] ,f9ancial ,protection ,act ( #bjaj 7#ab ,u4,s4,c4 #edha et seq47 is am5d$ by ins]t+ aft] section #ajcg ! foll[+3 #ajch4 ,f9ancial lit]acy aw>d allocation program 7a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,director %all e/abli% aw>d allocations = f9ancial lit]acy & consum] education programs on a competitive basis to eligible entities z describ$ 9 subsection 7d74 7b7 ,application requirem5ts ,to be eligible = an aw>d allocation "u ! program e/abli%$ "u subsection 7a71 an eligible entity %all submit an application to ! ,director at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,director may require1 includ+ in=mation on-- 7#a7 ! curriculum & design ( ! f9ancial lit]acy program propos$ by ! eligible entity1 includ+ a description ( h[ su* program meets ! requirem5ts ( subsection 7d72 7#b7 expect$ p>ticipants 9 ! propos$ program2 7#c7 :o is expect$ to be employ$ or o!rwise involv$ ) ! propos$ program1 includ+-- 7,a7 adm9i/rators2 7,b7 consultants2 & 7,c7 f9ancial advisors2 & 7#d7 a prospective budget = ! propos$ f9ancial lit]acy program4 7c7 ,aw>d allocation 7#a7 ,am\nts ,! ,director %all det]m9e ! am\nt ( ea* aw>d allocation "u ! program e/abli%$ "u subsection 7a74 7#b7 ,multiye> aw>d allocations ,! ,director may n aw>d m ?an #e consecutive aw>d allocations to an eligible entity bas$ on a s+le application4 7d7 ,f9ancial lit]acy program describ$ ,a f9ancial lit]acy program describ$ 9 ?is subsection is a program t provides ! foll[+3 7#a7 ,in/ruction to p>ticipants1 includ+ individuals :o provide in/ruction ) respect to f9ancial lit]acy education1 on "o or m ( ! foll[+3 7,a7 ,p]sonal f9ancial wellness4 7,b7 ,cr$it & alt]natives to cr$it4 7,c7 ,managem5t ( /ud5t loan debt4 7,d7 ,prep>ation = home[n]%ip4 7,e7 ,basic inve/+4 7,f7 ,f9ancial sav+1 plann+1 & managem5t4 7,g7 ,tax plann+4 7,h7 ,p]sonal in=mation security4 7,i7 ,prep>ation = h\sehold *anges1 includ+ m]g+ assets aft] m>riage & prep>+ = co/s associat$ ) *ildr54 7,j7 ,o!r topics z det]m9$ by ! ,director4 7#b7 ,an 9-p]son in/ruction compon5t t-- 7,a7 may be provid$ z a web9>1 an 9-classroom exp]i5ce1 or "o-on-"o f9ancial coa*+2 7,b7 includes-- 7i7 live1 real-"t in/ruction2 & 7ii7 an opportunity = /ud5ts to engage ) an in/ructor2 & 7,c7 is n prim>ily compris$ ( self-taught in/ruction4 7e7 ,fund+ 7#a7 ,9 g5]al ,! ,director %all1 9 accordance ) section #ajag7;d71 use am\nts 9 ! ,consum] ,f9ancial ,civil ,p5alty ,fund to c>ry out ?is section4 7#b7 ,am\nts ,to c>ry out ?is section1 ! ,director %all use n m ?an-- 7,a7 9 fiscal ye> #bjbf1 #cj1jjj1jjj2 7,b7 9 ea* allocation p]iod />t+ aft] fiscal ye> #bjbf1 ! lessor (-- 7i7 #ae1jjj1jjj2 or 7ii7 #bj p]c5t ( ! am\nt rema9+ 9 ! ,consum] ,f9ancial ,civil ,p5alty ,fund aft] allocation to victims has be5 det]m9$ = ! prior allocation p]iod2 & 7,c7 9 any allocation p]iod ) respect to :i* ! am\nt 9 ! ,consum] ,f9ancial ,civil ,p5alty ,fund decreas$ dur+ ! prior allocation p]iod1 #a p]c5t ( ! am\nt rema9+ 9 ! ,consum] ,f9ancial ,civil ,p5alty ,fund aft] allocation to victims has be5 det]m9$ = ! prior allocation p]iod4 7f7 ,initial /udy 7#a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is section1 ! ,director %all conduct a /udy on ! f9ancial lit]acy education ne$s ( expect$ p>ticipants ( ! f9ancial lit]acy programs facilitat$ by ?is section4 7#b7 ,f9d+s ,! f9d+s ( ! /udy requir$ "u p>agraph 7#a7 may be us$ to in=m ! aw>d allocations by ! program e/abli%$ "u subsection 7a74 7g7 ,f9ancial ,lit]acy & ,education ,commission report ,n lat] ?an #b ye>s aft] ! ,director e/abli%es ! program "u subsection 7a71 ! ,f9ancial ,lit]acy & ,education ,commission %all submit to ,congress & ! ,director a report t provides recomm5dations on improv+ ! program4 7h7 ,def9itions ,9 ?is section3 7#a7 ,allocation p]iod ,! t]m allocation p]iod means ! biannual allocation p]iod ( funds to a class ( victims t occurs accord+ to ! s*$ule e/abli%$ pursuant to section #ajge4aje7;b7 ( title #ab1 ,code ( ,f$]al ,regulations 7or any successor regulation74 7#b7 ,eligible entity ,! t]m eligible entity-- 7,a7 means-- 7i7 a ,/ate gov]nm5t1 local gov]nm5t1 or ag5cy ( a ,/ate or local gov]nm5t2 & 7ii7 o!r entities t ! ,director may id5tify1 includ+ ^? t h-- 7,i7 exp]i5ce ) f9ancial managem5t2 7,,ii7 a hi/ory ( a*iev+ goals & objectives ( f9ancial lit]acy programs2 7,,iii7 exp]tise 9 f9ancial education2 or 7,,iv7 exp]tise 9 provid+ f9ancial education in/ruction2 & 7,b7 does n include any entity if ! entity1 or a subsidi>y or affiliate ( ! entity1 has be5 f\nd to h violat$ any ,f$]al consum] f9ancial law4 7#c7 ,/ate ,! t]m ,/ate means ea* ,/ate ( ! ,unit$ ,/ates1 ! ,di/rict ( ,columbia1 ea* t]ritory or possession ( ! ,unit$ ,/ates1 & ea* f$]ally recogniz$ ,indian ,tribe4 4 7b7 ,con=m+ am5dm5ts ,! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#ab ,u4,s4,c4 #edig7;d77#b77 is am5d$-- 7#a7 9 ! table ( cont5ts1 by ins]t+ aft] ! item relat+ to section #ajcg ! foll[+3 ,sec4 #ajch4 ,f9ancial lit]acy aw>d allocation program4 2 & 7#b7 9 section #ajag7;d77#b7-- 7,a7 by /rik+ 1 ! ,bureau may use & ins]t+ 1 ! ,bureau-- 7,a7 may use 2 7,b7 by /rik+ programs4 & ins]t+ programs2 &2 & 7,c7 by add+ at ! end ! foll[+3 7,b7 %all use su* funds = ! aw>d allocation program e/abli%$ "u section #ajch4 4