S.923 - TANF Financial Education Promotion Act of 2005109th Congress (2005-2006)
Summary: S.923 — 109th Congress (2005-2006)
Introduced in Senate (04/27/2005)
TANF Financial Education Promotion Act of 2005 - Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to require a State to specify in its State plan how it intends to establish goals and take action to promote financial education among parents and caretakers receiving TANF assistance through collaboration with community-based organizations, financial institutions, and the Cooperative State Research, Education, and Extension Service of the Department of Agriculture.
Defines financial education as education that promotes an understanding of consumer, economic, and personal finance concepts, including the basic principles involved with earning, budgeting, spending, saving, investing, and taxation.
Designates financial education a work activity for TANF purposes.