I 
114TH CONGRESS 
1ST SESSION H. R. 1801 
To amend the Internal Revenue Code of 1986 to allow a tax credit for 
providing programs to kindergarten, elementary, and secondary students 
that promote economic and financial literacy. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 15, 2015 
Ms. KELLY of Illinois introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to allow a 
tax credit for providing programs to kindergarten, ele-
mentary, and secondary students that promote economic 
and financial literacy. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Promoting Financial 
Literacy and Economic Opportunity Act of 2015’’. 
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SEC. 2. TAX CREDIT FOR PROVIDING PROGRAMS FOR STU-
DENTS THAT PROMOTE ECONOMIC AND FI-
NANCIAL LITERACY. 
(a) IN GENERAL.—Subpart D of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 (relating to business-related credits) is amended by 
adding at the end the following new section: 
‘‘SEC. 45S. EXCELLENCE IN ECONOMIC EDUCATION. 
‘‘(a) GENERAL RULE.—In the case of an eligible for 
profit organization, for purposes of section 38, the excel-
lence in economic education credit determined under this 
section for a taxable year is 50 percent of the amount paid 
or incurred during the taxable year to carry out the pur-
poses specified in section 5533(b) of the Elementary and 
Secondary Education Act of 1965 (20 U.S.C. 7267b(b)) 
pursuant to a qualified program. 
‘‘(b) LIMITATION ON NUMBER OF CREDIT RECIPI-
ENTS.— 
‘‘(1) IN GENERAL.—The excellence in economic 
education credit determined under this section for a 
taxable year may be allowed to not more than 20 for 
profit organizations in accordance with paragraph 
(2). 
‘‘(2) CREDIT AWARD BY SECRETARY.— 
‘‘(A) IN GENERAL.—The Secretary (in con-
sultation with the Secretary of Education) shall 
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determine which for profit organizations are al-
lowed the credit under this section for a taxable 
year in such manner as the Secretary deter-
mines appropriate. 
‘‘(B) MAJORITY OF RECIPIENTS MUST BE 
MWOSBS, OWNED
BY
VETERANS, OR
MEET 
ASSET
TEST.—In carrying out subparagraph 
(A), the majority of the taxpayers allowed a 
credit under paragraph (1) for a taxable year 
shall be entities that are— 
‘‘(i) either— 
‘‘(I) a socially and economically 
disadvantaged small business concern 
(as defined in section 8(a)(4)(A) of 
the Small Business Act (15 U.S.C. 
637(a)(4)(A))), 
‘‘(II) a small business concern 
owned and controlled by women (as 
defined under section 3(n) of such Act 
(15 U.S.C. 632(n))), or 
‘‘(III) a small business concern 
(as so defined) that is at least 51 per-
cent owned by veterans (as defined in 
section 101(2), United States Code), 
or 
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‘‘(ii) on the first day of the taxable 
year 
do 
not 
have 
more 
than 
$60,000,000,000 in assets. 
‘‘(C) PRIORITY.—In making determina-
tions under this paragraph, the Secretary shall 
give priority to taxpayers that have qualified 
programs which serve either urban or rural un-
derserved areas (determined on the basis of the 
most recent United States census data avail-
able). 
‘‘(c) LIMITATIONS RELATING TO EXPENDITURES.— 
‘‘(1) DIRECT
ACTIVITY.—25 percent of the 
amount allowed as a credit under subsection (a) 
shall be for amounts paid or incurred for direct ac-
tivities (as defined in section 5533(b)(1) of the Ele-
mentary and Secondary Education Act of 1965 (20 
U.S.C. 7267b(b)(1))). 
‘‘(2) SUBGRANTS.—75 percent of the amount 
allowed as a credit under subsection (a) shall be for 
amounts paid or incurred for subgrants (as defined 
in section 5533(b)(2) of the Elementary and Sec-
ondary 
Education 
Act 
of 
1965 
(20 
U.S.C. 
7267b(b)(1))), determined by treating amounts so 
paid or incurred as funds made available through a 
grant. 
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