113 HR 2920 IH: Financial Literacy for Students Act
U.S. House of Representatives
2013-08-01
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Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.This Act may be cited as the
Financial Literacy for Students
Act
.
2.Statewide
incentive grants for financial literacy educationPart D of title V of the Elementary and
Secondary Education Act of 1965 (20 U.S.C. 7241 et seq.) is amended by adding
at the end the following:
22
5621.Statewide
incentive grants for financial literacy education
(a)From amounts
appropriated under subsection (e), the Secretary may award grants to State
educational agencies to enable State educational agencies, on a statewide
basis—
(1)to integrate
financial literacy education into each public elementary school and public
secondary school within the State that is eligible to receive funds under title
I; and
(2)to provide
professional development regarding the teaching of financial literacy in core
academic subjects to each secondary school teacher of financial literacy or
entrepreneurship within the State.
(b)Permissible uses
of fundsIn carrying out the
grant activities described in subsection (a), the State educational agency may
use grant funds to—
(1)implement school-based financial literacy
activities, including after school activities;
(2)enhance student understanding and
experiential learning with consumer, economic, entrepreneurship, and personal
finance concepts; and
(3)promote partnerships with community-based
organizations, financial institutions, local businesses, entrepreneurs, or
other organizations providing financial literacy activities.
(c)Limitation on
uses of fundsA State educational agency receiving grant funds
under this section shall not use more than 20 percent of such grant funds to
carry out the following:
(1)Teacher
professional development programs to embed financial literacy or personal
finance or entrepreneurship education into core academic subjects.
(2)Curriculum
development.
(3)An evaluation of
the impact of financial literacy or personal finance education on students'
understanding of financial literacy concepts.
(d)A State educational agency that receives a grant under this
section shall provide matching funds, from non-Federal sources, in an amount
equal to 25 percent of the amount of grant funds provided to the State to carry
out the activities supported by the grant.
(e)There
are authorized to be appropriated to carry out this section such sums as may be
necessary for fiscal year 2014 and each of the 4 succeeding fiscal
years.
.