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Code · BILL · 114th Congress · H.R. 346 (Introduced in House) — To improve the financial literacy of students. · Sec. 2

Sec. 2. Statewide incentive grants for financial literacy education

307 words·~1 min read·/bill/114/hr/346/ih/section-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Part 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: From amounts appropriated under subsection (e), the Secretary may award grants to State educational agencies to enable State educational agencies, on a statewide basis— 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 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.
In carrying out the grant activities described in subsection (a), the State educational agency may use grant funds to— implement school-based financial literacy activities, including after school activities; enhance student understanding and experiential learning with consumer, economic, entrepreneurship, and personal finance concepts; and promote partnerships with community-based organizations, financial institutions, local businesses, entrepreneurs, or other organizations providing financial literacy activities.
A 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: Teacher professional development programs to embed financial literacy or personal finance or entrepreneurship education into core academic subjects. Curriculum development. An evaluation of the impact of financial literacy or personal finance education on students' understanding of financial literacy concepts. 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.
There are authorized to be appropriated to carry out this section such sums as may be necessary for fiscal year 2016 and each of the 4 succeeding fiscal years. .
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Sec. 2
Statewide incentive grants for financial literacy education
U.S.C.§ 7241
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