,,ii #aagth ,,congress #ast ,session ,s4 #hgi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #bb1 #bjba,mr4 ,coons 7for himself and ,mr4 ,cornyn7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to authorize the ,secretary of ,education to make grants to support educational programs in civics and history1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,civics ,secures ,democracy ,act4 #b4 ,purposes2 ,rule of ,construction 7a7 ,purposes ,the purposes of this ,act are-- 7#a7 to support local educational agencies1 elementary schools1 and secondary schools in selecting and making available to all students innovative1 engaging curricula and programs in civics and history that prepare them to understand ,american ,government and engage in ,american democratic practices as citizens and residents of the ,united ,states2 7#b7 to provide resources to institutions of higher education for the purposes of offering effective professional development opportunities to enable and encourage teachers to deliver instruction that engages students in learning civics and history2 7#c7 to provide resources to nonprofit organizations that have developed1 or are developing1 programs in civic education that incorporate practices that are proven to be effective in engaging students1 and to assist in making such curricula and programs more widely available to schools and students1 particularly in rural and inner-city urban areas that have traditionally been underserved by civic learning programs2 7#d7 to provide resources to continue and expand research into practices1 methods1 and approaches that are effective in instructing elementary and secondary school students in civics and history2 7#e7 to diversify the civics1 history1 and government education workforce by offering targeted incentives and honoring those who commit to the profession2 7#f7 to encourage participation in the ,national ,assessment of ,educational ,progress assessments in civics and history in grades #d1 #h1 and #ab1 using a methodology sufficient to provide accurate ,state-level data on student proficiency in civics and history disaggregated so as to have statistical significance for every ,state2 7#g7 to reauthorize and modernize the existing ,federal civics education grant program for institutions of higher education1 including by strengthening academic independence and supporting partnerships between academic centers and local educational agencies2 and 7#h7 to strengthen and make independently sustainable the ,harry ,s4 ,truman ,scholarship ,foundation ,trust ,fund and the ,james ,madison ,memorial ,fellowship ,trust ,fund1 which respectively support exceptional ,americans who aspire to careers in public service and as secondary school history1 government1 and civics educators4 7b7 ,rule of construction ,nothing in this ,act shall be construed to authorize the ,secretary of ,education to prescribe a civics and history curriculum4 ,i ,grant ,program #aja4 ,definitions ,in this ,act3 7#a7 ,the term civics1 when used with respect to an educational program1 means a program that addresses the following3 7,a7 ,acquisition of civic knowledge1 including an understanding of the history1 heritage1 civic life1 and civic institutions of the ,united ,states4 7,b7 ,acquisition of civic skills1 such as the ability to analyze text and determine the reliability of sources and an understanding of the ways in which civic institutions operate and how individuals may be involved in civic life4 7,c7 ,acquisition of civic dispositions1 values such as appreciation for free speech1 civil discourse1 tolerance and inclusion1 and understanding perspectives that differ from one's own as well as a disposition to be civically engaged4 7,d7 ,development of civic behaviors1 including civic habits and practices such as voting1 serving on juries1 engagement in deliberative discussions1 volunteering1 attending public meetings1 and other activities related to civic life4 7#b7 ,the term eligible entity means-- 7,a7 with respect to grant program under section #ajc1 a ,state2 7,b7 with respect to the grant program under section #ajd1 a qualified nonprofit organization2 7,c7 with respect to the grant program under section #aje1 an institution of higher education2 and 7,d7 with respect to the grant program under section #ajf1 a qualified researcher4 7#c7 ,the term evidence-based practices means practices proven to contribute to the effectiveness of educational programs in civics1 including-- 7,a7 innovative and engaging classroom instruction in civics1 ,government1 and history2 7,b7 service learning and student civic projects linked to classroom learning2 7,c7 learning through participation in models and simulations of democratic processes and experiential learning2 7,d7 guided classroom discussion of current issues and events2 7,e7 meaningful participation in school governance2 and 7,f7 instruction in media literacy4 7#d7 ,the term institution of higher education has the meaning given that term in section #aja of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajja74 7#e7 ,the term ,national ,assessment of ,educational ,progress means the ,national ,assessment of ,educational ,progress carried out under section #cjc7;b7 of the ,national ,assessment of ,educational ,progress ,authorization ,act 7#bj ,u4,s4,c4 #ifbb7;b774 7#f7 ,the term qualified nonprofit organization means an organization that-- 7,a7 is described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf and which is exempt from taxation under section #eja7;a7 of such ,code2 and 7,b7 has experience developing curricula1 instructional models1 and other educational programs for students in elementary schools and secondary schools4 7#g7 ,the term qualified researcher means-- 7,a7 a nonprofit organization that has ability and capacity to carry out scientifically valid research2 or 7,b7 an individual affiliated with such an organization4 7#h7 ,the terms ,english learner1 elementary school1 local educational agency1 secondary school1 and ,state have the meanings given those terms in section #haja of the ,elementary and ,secondary ,education ,act of #aife 7#bj ,u4,s4,c4 #ghja74 #ajb4 ,general provisions 7a7 ,in general ,from amounts made available under section #ajg the ,secretary of ,education is authorized to carry out the civics education grant programs described in sections #ajc through #ajf4 7b7 ,application ,to be considered for a grant under this ,act1 an eligible entity shall submit to the ,secretary of ,education an application at such time1 in such manner1 and containing such information as the ,secretary may require4 7c7 ,grant duration ,each grant under this ,act shall be awarded for a period of not less than #c years4 7d7 ,priority ,except as otherwise provided in this ,act1 the ,secretary shall prioritize the award of grants to eligible entities that demonstrate the greatest potential to-- 7#a7 improve knowledge and engagement among students traditionally underserved by comprehensive civic education and ,american history programs1 including rural and inner-city urban students1 ,english learners1 students who have not completed high school1 and other such students2 7#b7 close gaps in civic knowledge and achievement among students of different income levels1 racial and ethnic groups1 and native languages2 7#c7 improve performance on the ,national ,assessment of ,educational ,progress assessments in civics and history among students in grades #d1 #h1 and #ab2 7#d7 integrate evidence-based practices for promoting student proficiency and engagement in civics2 and 7#e7 provide cost-effective1 scalable delivery of programs and services4 #ajc4 ,grants to ,states 7a7 ,program authorized ,the ,secretary of ,education is authorized to make grants to ,states1 on a competitive basis1 to support educational programs in civics and history in accordance with this section4 7b7 ,grant amount ,the amount of each grant to a ,state under this section shall be proportional to the amount received by all local educational agencies in the ,state under part ,a of title ,i of the ,elementary and ,secondary ,education ,act of #aife 7#bj ,u4,s4,c4 #fcaa et seq47 for the previous fiscal year relative to the total such amount received by all local educational agencies in every ,state that receives a grant under this section4 7c7 ,state reservation ,a ,state that receives a grant under this section may reserve not more than #e percent of the amount of the grant for-- 7#a7 administrative costs of carrying out the ,state's responsibilities under this section2 and 7#b7 monitoring and evaluating programs and activities supported with the grant4 7d7 ,subgrants to local educational agencies ,a ,state that receives a grant under this section shall use not less than #ie percent of the amount of the grant to make subgrants1 on a competitive or formula basis1 to local educational agencies within the ,state to assist such agencies in carrying out programs to improve the achievement of elementary and secondary school students in the fields of civics and history4 7e7 ,supplement not supplant ,a ,state shall use a grant under this section only to supplement the level of ,federal1 ,state1 and local public funds that would1 in absence of such grant1 be made available for the activities supported by the grant1 and not to supplant such funds4 7f7 ,contents of application ,as part of the application required under section #ajb7;b71 a ,state shall include a plan describing how the ,state intends to use the grant under this section4 ,each ,state plan shall include1 at a minimum1 the following3 7#a7 ,an explanation of how the ,state will use the grant to supplement1 and not supplant1 other public funds provided for educational programs in civics and history4 7#b7 ,plans to address civics and history achievement gaps among students of different income levels1 racial and ethnic backgrounds1 and native languages4 7#c7 ,plans to improve civics and history achievement among traditionally underserved students1 including rural and urban students and ,english learners4 7#d7 ,plans for making subgrants to local educational agencies as required under subsection 7d71 including-- 7,a7 details of how the ,state intends to distribute funding to local educational agencies1 whether by competition or through a formula-based system2 7,b7 how the ,state's approach to distributing funds to local educational agencies will take into account requirements of paragraphs 7#a7 through 7#c72 7,c7 criteria by which local educational agencies' applications for funding will be evaluated1 including how such applications will take into account the requirements of paragraphs 7#a7 through 7#c72 7,d7 how the ,state will ensure that local educational agencies will use grant funds to supplement1 and not supplant1 other public funding for educational programs in civics and history2 and 7,e7 how the ,state will evaluate and hold local educational agencies accountable for improved student knowledge and achievement in civics and history4 7#e7 ,an assurance that the ,state will participate in the ,national ,assessment of ,educational ,progress assessments in civics and history in grades #d1 #h1 and #ab4 7#f7 ,in the case of a ,state applying to renew a grant previously received under this section1 an evaluation of the effectiveness of the activities carried out using the previous grant1 which shall be based on the results of the most recent ,national ,assessment of ,educational ,progress assessment in civics and history1 to the extent the results of such assessment are available at the time of the ,state's application4 #ajd4 ,grants to nonprofit organizations 7a7 ,program authorized ,the ,secretary of ,education is authorized to make grants to qualified nonprofit organizations1 on a competitive basis1 to assist such organizations in developing or expanding access to evidence-based curricula1 instructional models1 and other educational programs to enhance student knowledge and achievement in civics and history in elementary schools and secondary schools4 7b7 ,contents of application ,as part of the application required under section #ajb7;b71 a qualified nonprofit organization shall include a proposal that demonstrates how the activities proposed to be carried out with the grant under this section will enhance student knowledge and achievement in civics and history in elementary schools and secondary schools4 7c7 ,priority of awards ,in awarding grants under this section1 the ,secretary shall give priority to qualified nonprofit organizations that propose to use the grant to develop or expand access to curricula1 instructional models1 and other educational programs that-- 7#a7 address the learning needs of traditionally underserved students1 including rural and inner-city urban students and ,english learners2 and 7#b7 incorporate evidence-based practices to enhance student learning and engagement in civics and history4 #aje4 ,grants to institutions of higher education 7a7 ,program authorized ,the ,secretary of ,education is authorized to make grants to institutions of higher education1 on a competitive basis1 to assist such institutions in developing and implementing programs to train elementary and secondary school teachers in methods for instructing and engaging students in civics and history4 7b7 ,contents of application ,as part of the application required under section #ajb7;b71 an institution of higher education shall include a proposal demonstrating that the institution-- 7#a7 has the ability to train elementary and secondary school teachers to provide comprehensive civics education2 7#b7 is familiar with research on practices that are proven to contribute to effective instruction in civics and history and will incorporate such research into the training provided to teachers using the grant2 and 7#c7 will use the grant to make training in civics education available to elementary and secondary school teachers in the ,state or geographic region served by the institution4 7c7 ,priority of awards ,in awarding grants under this section1 the ,secretary shall give priority to institutions of higher education that propose to use the grant to carry out training programs for teachers that-- 7#a7 address the specific needs of teachers working with traditionally underserved students1 including rural and inner-city urban students and ,english learners2 and 7#b7 incorporate evidence-based practices for improving the ability of teachers to provide effective instruction in civics and history4 7d7 ,reservation of funds ,from the amounts made available to carry out this section1 #ce percent shall be reserved to award grants1 on a competitive basis1 to institutions of higher education that are eligible to receive funds under-- 7#a7 part ,a or part ,b of title ,,iii of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajeg et seq41 #ajfj et seq472 7#b7 part ,a or part ,b of title ,v of such ,act 7#bj ,u4,s4,c4 #aaja et seq41 #aajb et seq472 or 7#c7 subpart #d of part ,a of title ,,vii of such ,act 7#bj ,u4,s4,c4 #aacf;a et seq474 #ajf4 ,research grants 7a7 ,program authorized ,the ,secretary of ,education is authorized to make grants1 on a competitive basis1 to qualified researchers to research and evaluate-- 7#a7 elementary and secondary school students' knowledge of civics and history2 and 7#b7 effective instructional practices and educator professional development in the fields of civics and history4 7b7 ,contents of application ,as part of the application required under section #ajb7;b71 a qualified researcher shall include a description of the project to be funded with the grant under this section4 ,the description of the project shall include a separate section that describes how the project may directly or indirectly affect civics education generally1 which may include effects such as-- 7#a7 achieving the full participation of women1 persons with disabilities1 and underrepresented minorities in civics and history education2 7#b7 increasing public civic literacy and civic engagement2 7#c7 developing a diverse educator workforce2 or 7#d7 other such effects4 7c7 ,priority of awards ,in awarding grants under this section1 the ,secretary shall give priority to qualified researchers who propose to carry out activities that will benefit historically underserved communities1 including rural and inner-city urban communities and communities of ,english learners4 #ajg4 ,authorization of appropriations ,there are authorized to be appropriated-- 7#a7 for fiscal year #bjbb and for each of the #e succeeding fiscal years-- 7,a7 #ehe1jjj1jjj to carry out section #ajc2 7,b7 #bjj1jjj1jjj to carry out section #ajd2 and 7,c7 #ej1jjj1jjj to carry out section #ajf2 and 7#b7 #aej1jjj1jjj for fiscal year #bjbb and for each of the #e succeeding fiscal years to carry out-- 7,a7 section #aje2 and 7,b7 section #hje of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #aafa;e74 ,,ii ,amendments to other laws #bja4 ,prince ,hall ,civics ,fellowship ,program ,the ,james ,madison ,memorial ,fellowship ,act 7#bj ,u4,s4,c4 #deja et seq47 is amended-- 7#a7 in section #hjb1 by inserting 1 and to establish the ,prince ,hall ,civics ,fellowship ,program which is designed to diversify the civics and history education workforce after development2 7#b7 in section #hjg-- 7,a7 by striking this title and inserting section #hjd each place the term appears2 and 7,b7 by striking this ,act and inserting section #hjd each place the term appears2 and 7#c7 by inserting after section #haj the following new section3 #haj;,a4 ,prince ,hall ,civics ,fellowship ,program 7a7 ,in general ,notwithstanding sections #hjd through #haj-- 7#a7 the ,foundation is authorized to award scholarships under an additional fellowship program to be administered by the ,james ,madison ,fellowship ,program1 which shall be known as the ,prince ,hall ,civics ,fellowship ,program2 and 7#b7 the terms and conditions under this section shall apply with respect to the ,prince ,hall ,civics ,fellowship ,program4 7b7 ,purpose ,the purpose of the ,prince ,hall ,civics ,fellowship ,program is to diversify the civics and history education workforce4 7c7 ,applications ,in order to be eligible to receive a scholarship under the ,prince ,hall ,civics ,fellowship ,program1 an individual shall submit an application to the ,foundation1 containing an assurance that the applicant meets the following requirements3 7#a7 ,the applicant holds a valid teaching credential in the applicant's home ,state and a baccalaureate degree or higher degree in the subject of humanities1 political science1 government1 or ,american history1 or a dual degree in one of those subjects and education4 7#b7 ,the applicant will commit to #e years of teaching in kindergarten through grade #ab and will provide verification for each year of employment4 7d7 ,selection ,the ,foundation shall1 either directly or by contract1 provide for the conduct of a nationwide competition for the purpose of selecting recipients of fellowships under the ,prince ,hall ,civics ,fellowship ,program 7referred to as fellows74 ,the ,foundation shall adopt selection procedures which shall assure that-- 7#a7 the number of recipients selected from each ,state is in proportion to each ,state's share of funding under part ,a of title ,i of the ,elementary and ,secondary ,education ,act of #aife 7#bj ,u4,s4,c4 #fcaa et seq472 and 7#b7 in selecting fellows1 priority is given to individuals-- 7,a7 who are teaching in communities to which the individual has ties at the time of the individual's application for the fellowship2 or 7,b7 are from populations underrepresented in the civics and history education workforce4 7e7 ,amount of fellowship ,each fellow shall receive a stipend of #e1jjj for each year1 not to exceed a total of #e years1 that the fellow is employed as a teacher in kindergarten through grade #ab and submits employment verification to the ,foundation in the manner prescribed by the ,foundation4 4 #bjb4 ,national ,assessment of ,educational ,progress ,section #cjc7;b7 of the ,education ,sciences ,reform ,act of #bjjb 7#bj ,u4,s4,c4 #ifbb7;b77 is amended-- 7#a7 in paragraph 7#b7-- 7,a7 by redesignating subparagraphs 7,d7 through 7,h7 as subparagraphs 7,e7 through 7,i7 respectively2 7,b7 by inserting after subparagraph 7,c7 the following3 7,d7 conduct a national assessment1 using a methodology sufficient to provide accurate1 disaggregated1 statistically significant ,state-level data on student proficiency for every ,state1 on student academic achievement in public and private elementary schools and secondary schools at least once every #b years1 in grades #d1 #h1 and #ab in civics and history2 2 and 7,c7 in subparagraph 7,e71 as so redesignated1 by striking history1 geography1 civics and inserting geography2 and 7#b7 in paragraph 7#c77;,a7-- 7,a7 in clause 7i71 by striking 7#b77;,e7 and inserting 7#b77;,f72 7,b7 by redesignating clauses 7iii7 and 7iv7 as clauses 7iv7 and 7v71 respectively2 7,c7 by inserting after clause 7ii7 the following3 7iii7 shall conduct biennial ,state academic assessments of student achievement in civics and history in grades #d1 #h1 and #ab1 as described in paragraph 7#b77;,d7 2 and 7,d7 in clause 7iv71 as so redesignated1 by striking 7#b77;,d7 and inserting 7#b77;,e74 #bjc4 ,,usa ,civics ,act ,section #hje of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #aafa;e7 is amended-- 7#a7 in the section heading1 by striking history for freedom and inserting civics education program2 7#b7 in subsection 7a7-- 7,a7 by striking subsection 7f7 and inserting subsection 7g72 7,b7 by striking the ,secretary is authorized to award three-year grants1 on a competitive basis1 and inserting the ,secretary is authorized to award grants1 once every #c years and on a competitive basis12 7,c7 by striking paragraph 7#a7 and inserting the following3 7#a7 ,american political thought and history2 2 7,d7 in paragraph 7#b7 by striking or after the semicolon2 7,e7 by striking paragraph 7#c7 and inserting the following3 7#c7 the history1 achievements1 and impact of ,american representative democracy and constitutional democracies globally2 or 2 and 7,f7 by adding at the end the following3 7#d7 the means of participation in political and civic life4 2 7#c7 in subsection 7b7-- 7,a7 in paragraph 7#a71 by striking as defined in section #aja4 and inserting 1 or a partnership that includes an institution of higher education and one or more nonprofit organizations1 whose missions and demonstrated expertise are consistent with the purpose of this section42 7,b7 in paragraph 7#b71 by striking that emerged and all that follows through the period at the end and inserting founded on the principles of representative democracy1 constitutional government1 individual rights1 market economics1 religious freedom and religious tolerance1 and freedom of thought and inquiry42 and 7,c7 by striking paragraph 7#c7 and inserting the following3 7#c7 ,american political thought and history ,the term ,american political thought and history means-- 7,a7 the significant constitutional1 political1 intellectual1 economic1 social1 and foreign policy trends and issues that have shaped the course of ,american history2 and 7,b7 the key episodes1 turning points1 texts1 and figures involved in the constitutional1 political1 intellectual1 diplomatic1 social1 and economic history of the ,united ,states4 2 7#d7 in subsection 7c77#b7-- 7,a7 in subparagraph 7,a71 by striking traditional and all that follows through the semicolon and inserting ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life22 and 7,b7 in subparagraph 7,b71 by inserting 1 which may include the creation or use of open educational resources after subsection 7e77#a77;,b72 7#e7 in subsection 7d7-- 7,a7 by striking paragraph 7#a7 and inserting the following3 7#a7 increase access to quality programming that expands knowledge of ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life2 2 and 7,b7 in paragraph 7#b71 by striking traditional ,american history1 free institutions1 or ,western civilization and inserting ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life42 7#f7 by striking subsection 7e7 and inserting the following3 7e7 ,use of funds 7#a7 ,required use of funds ,funds provided under this section shall be used-- 7,a7 for collaboration with local educational agencies for the purpose of providing elementary school and secondary school teachers an opportunity to enhance their knowledge of ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life2 and 7,b7 to carry out one or more of the following3 7i7 ,establishing or strengthening academic programs or centers focused on ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life1 which may include-- 7,i7 design and implementation of programs of study1 courses1 lecture series1 seminars1 and symposia2 7,,ii7 development1 publication1 and dissemination of instructional materials2 7,,iii7 research2 7,,iv7 support for faculty teaching in undergraduate and1 if applicable1 graduate programs2 or 7,v7 support for graduate and postgraduate fellowships1 if applicable4 7ii7 ,for teacher preparation initiatives that stress content mastery regarding ,american political thought and history1 free institutions1 the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life4 7iii7 ,to conduct outreach activities to ensure that information about the activities funded under this section is widely disseminated-- 7,i7 to undergraduate students 7including students enrolled in teacher education programs1 if applicable72 7,,ii7 to graduate students 7including students enrolled in teacher education programs1 if applicable72 7,,iii7 to faculty2 7,,iv7 to local educational agencies2 and 7,v7 within the local community4 7#b7 ,allowable uses of funds ,funds provided under this section may be used to support-- 7,a7 collaboration with entities such as-- 7i7 nonprofit organizations whose missions and demonstrated expertise are consistent with the purpose of this section1 for assistance in carrying out activities described under subsection 7a72 and 7ii7 ,federal or ,state humanities programs1 which may include those funded by the ,national ,endowment for the ,humanities2 7,b7 the creation and use of open educational resources on ,american political thought and history1 free institutions1 or the impact of ,american representative democracy and constitutional democracies globally1 or the means of participation in political and civic life2 and 7,c7 other activities that meet the purposes of this section4 2 7#g7 by redesignating subsection 7f7 as subsection 7g72 7#h7 in subsection 7g71 as redesignated by paragraph 7#g71 by striking #bjji and inserting #bjbb2 and 7#i7 by inserting after subsection 7e7 the following3 7f7 ,rule of construction ,nothing in this section shall be construed to authorize the ,secretary to prescribe an ,american political thought and history curriculum4 4 #bjd4 ,sustaining the ,truman ,foundation ,section #aj7;b7 of ,public ,law #ic-fdb 7#bj ,u4,s4,c4 #bjja et seq47 is amended to read as follows3 7b7 7#a7 ,it shall be the duty of the ,secretary of the ,treasury to invest in full the amounts appropriated to the fund4 7#b7 ,investments of amounts appropriated to the fund shall be made in public debt securities of the ,united ,states with maturities suitable to the fund4 ,for such purpose1 such obligations may be acquired-- 7,a7 on original issue at the issue price2 or 7,b7 by purchase of outstanding obligations at the market price4 7#c7 ,the purposes for which obligations of the ,united ,states may be issued under chapter #ca of title #ca1 ,united ,states ,code1 are hereby extended to authorize the issuance at par of special obligations exclusively to the fund4 ,such special obligations shall bear interest at a rate equal to the average rate of interest1 computed as to the end of the calendar month next preceding the date of such issue1 borne by all marketable interest-bearing obligations of the ,united ,states then forming a part of the public debt1 except that where such average rate is not a multiple of #a_/h of #a percent1 the rate of interest of such special obligations shall be the multiple of #ah of #a percent next lower than such average rate4 ,such special obligations shall be issued only if the ,secretary determines that the purchases of other interest-bearing obligations of the ,united ,states1 or of obligations guaranteed as to both principal and interest by the ,united ,states or original issue or at the market price1 is not in the public interest4 4 #bje4 ,sustaining the ,madison ,foundation ,subsection 7b7 of section #haa of the ,james ,madison ,memorial ,fellowship ,act 7#bj ,u4,s4,c4 #deaj7 is amended to read as follows3 7b7 7#a7 ,it shall be the duty of the ,secretary of the ,treasury to invest in full the amounts appropriated to the fund4 7#b7 ,subject to paragraph 7#c71 investments of amounts appropriated to the fund shall be made in public debt securities of the ,united ,states with maturities suitable to the fund4 ,for such purpose1 such obligations may be acquired 7,a7 on original issue at the issue price1 or 7,b7 by purchase of outstanding obligations at the market price4 ,the purposes for which obligations of the ,united ,states may be issued under chapter #ca of title #ca1 ,united ,states ,code1 are hereby extended to authorize the issuance at par of special obligations exclusively to the fund4 ,such special obligations shall bear interest at a rate equal to the average rate of interest1 computed as to the end of the calendar month next preceding the date of such issue1 borne by all marketable interest-bearing obligations of the ,united ,states then forming a part of the public debt1 except that where such average rate is not a multiple of #a_/h of #a percent1 the rate of interest of such special obligations shall be the multiple of #a_/h of #a percent next lower than such average rate4 ,such special obligations shall be issued only if the ,secretary determines that the purchases of other interest-bearing obligations of the ,united ,states1 or of obligations guaranteed as to both principal and interest by the ,united ,states or original issue or at the market price1 is not in the public interest4 7#c7 7,a7 ,notwithstanding paragraph 7#b71 upon receiving a determination of the ,board described in subparagraph 7,b71 the ,secretary shall invest up to #dj percent of the fund's assets in securities other than public debt securities of the ,united ,states1 provided that the securities are traded in established ,united ,states markets4 7,b7 ,a determination described in this subparagraph is a determination by the ,board that investments as described in subparagraph 7,a7 are necessary to enable the ,foundation to carry out the purposes of this title without any diminution of the number of fellowships provided under section #hjd4 7,c7 ,nothing in this paragraph shall be construed to limit the authority of the ,board to increase the number of fellowships provided under section #hjd1 or to increase the amount of the fellowship authorized by section #hji1 as the ,board considers appropriate and is otherwise consistent with the requirements of this title4 4 #bjf4 ,authorization of appropriations ,there are authorized to be appropriated-- 7#a7 for fiscal year #bjbb and for each of the #e succeeding fiscal years1 #ae1jjj1jjj to carry out section #bja2 7#b7 for fiscal year #bjbb1 #cjj1jjj1jjj for the ,harry ,s4 ,truman ,scholarship ,foundation ,trust ,fund1 established by section #aj of ,public ,law #ic-fdb 7#bj ,u4,s4,c4 #bjji72 and 7#c7 for fiscal year #bjbb1 #bj1jjj1jjj for the ,james ,madison ,memorial ,fellowship ,trust ,fund1 established by section #haa of the ,james ,madison ,memorial ,fellowship ,act 7#bj ,u4,s4,c4 #deaj74