II 

111TH CONGRESS 

1ST SESSION S. 1339 

To provide for financial literacy education. 

IN THE SENATE OF THE UNITED STATES 

JUNE 24, 2009 

Mrs. HAGAN introduced the following bill; which was read twice and referred 

to the Committee on Health, Education, Labor, and Pensions 

A BILL 

To provide for financial literacy education. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Financial Literacy for 

5 Students Act of 2009’’. 

6 SEC. 2. FINANCIAL LITERACY EDUCATION. 

7 Part D of title V of the Elementary and Secondary 

8 Education Act of 1965 (20 U.S.C. 7241 et seq.) is amend9 ed by adding at the end the following: 


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1 ‘‘Subpart 22—Financial Literacy Education 

2 ‘‘SEC. 5621. STATEWIDE INCENTIVE GRANTS FOR FINAN3 CIAL LITERACY EDUCATION. 

4 ‘‘(a) GRANTS.—From amounts appropriated under 

5 subsection (d), the Secretary may award grants to States 

6 to enable the States, on a statewide basis— 

7 ‘‘(1) to integrate financial literacy education 

8 into each public middle school and secondary school 

9 within the State; and 

10 ‘‘(2) to provide professional development re11 garding the teaching of financial literacy to each 

12 public middle school and secondary school teacher of 

13 financial literacy within the State. 

14 ‘‘(b) LIMITATION.—Each State receiving a grant 

15 under this section shall use not more than a total of 20 

16 percent of the grant funds for professional and curriculum 

17 development. 

18 ‘‘(c) DEFINITION OF MIDDLE SCHOOL.—The term 

19 ‘middle school’ means a nonprofit institutional day or resi20 dential school, including a public middle charter school, 

21 that provides middle education, as determined under State 

22 law. 

23 ‘‘(d) AUTHORIZATION OF APPROPRIATIONS.—There 

24 are authorized to be appropriated to carry out this section 

25 such sums as may be necessary for fiscal year 2010 and 

26 each of the 4 succeeding fiscal years. 


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1 ‘‘SEC. 5622. PARENT INVOLVEMENT. 

2 ‘‘(a) GRANTS.— 

3 ‘‘(1) IN GENERAL.—From amounts appro4 priated under subsection (b), the Secretary may 

5 award grants to local educational agencies to enable 

6 the local educational agencies to support and provide 

7 training and assistance to or for parents and stu8 dents regarding financial literacy. 

9 ‘‘(2) PARTNERSHIPS ENCOURAGED.—In award10 ing a grant under this section the Secretary shall en11 courage a local educational agency to create, pro12 mote, and implement the programming assisted 

13 under the grant in partnership with a community or14 ganization, financial institution, or local business. 

15 ‘‘(b) AUTHORIZATION OF APPROPRIATIONS.—There 

16 are authorized to be appropriated to carry out this section 

17 such sums as may be necessary for fiscal year 2010 and 

18 each of the 4 succeeding fiscal years.’’. 

19 SEC. 3. FINANCIAL LITERACY EDUCATION COORDINATION. 

20 Subpart 13 of part D of title V of the Elementary 

21 and Secondary Education Act of 1965 (20 U.S.C. 7267 

22 et seq.) is amended by adding at the end the following: 

23 ‘‘SEC. 5538. COORDINATION. 

24 ‘‘(a) IN GENERAL.—The Secretary and the Board of 

25 Governors of the Federal Reserve System shall coordinate 

26 the activities assisted under this subpart with the activities 


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1 carried out by any financial education research center op2 erated by a Federal Reserve bank, in order to increase 

3 the usage and the prevalence of financial literacy edu4 cation programs and educational resources. 

5 ‘‘(b) AUTHORIZATION OF APPROPRIATIONS.—There 

6 are authorized to be appropriated to carry out this section 

7 such sums as may be necessary for fiscal year 2010 and 

8 each of the 4 succeeding fiscal years.’’. 

Æ 


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