I 
118TH CONGRESS 
1ST SESSION H. R. 2943 
To establish a competitive grant program to increase financial literacy 
instruction in elementary schools and secondary schools. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 27, 2023 
Mr. GALLAGHER (for himself and Mrs. BEATTY) introduced the following bill; 
which was referred to the Committee on Education and the Workforce 
A BILL 
To establish a competitive grant program to increase finan-
cial literacy instruction in elementary schools and sec-
ondary schools. 
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 ‘‘Student Empowerment 
and Financial Literacy Act’’. 
SEC. 2. FINANCIAL LITERACY GRANT PROGRAM. 
(a) IN GENERAL.—The Secretary shall award grants 
on a competitive basis to eligible entities for the purposes 
of promoting new and existing strategies to expand, de-
velop, implement, evaluate, and disseminate for voluntary 
VerDate Sep 11 2014 
22:36 May 08, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2943.IH
H2943
kjohnson on DSK79L0C42PROD with BILLS
use innovative approaches or professional development 
programs in financial literacy for elementary school and 
secondary school students, that— 
(1) show potential to improve student aware-
ness of personal finance topics; 
(2) show potential to improve teaching of such 
topics, including by training teachers and instructors 
to teach such topics; and 
(3) demonstrate innovation, scalability, account-
ability, and a focus on underbanked populations. 
(b) APPLICATIONS.—In order to receive a grant 
under this Act, an eligible entity shall submit an applica-
tion to the Secretary at such time and in such manner, 
and containing such information, as the Secretary may 
reasonably require. 
(c) 
PROGRAM
PERIODS
AND
DIVERSITY
OF 
PROJECTS.— 
(1) GRANT PERIOD.—A grant awarded under 
this Act shall be awarded for a period of not more 
than 3 years. 
(2) REAPPLICATION.—In a case in which an eli-
gible entity submits an application under subsection 
(b), and is not awarded a grant under this Act— 
(A) the Secretary shall provide to such eli-
gible entity— 
VerDate Sep 11 2014 
22:36 May 08, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2943.IH
H2943
kjohnson on DSK79L0C42PROD with BILLS
(i) an explanation for the denial of 
such grant; and 
(ii) any suggestions for improvements 
to the application the eligible entity should 
make to be eligible for such a grant; and 
(B) the eligible entity may resubmit such 
application after receipt of the explanations and 
suggestions under subparagraph (A). 
(3) RENEWAL.—The Secretary may renew a 
grant awarded under this Act for one additional 2- 
year period for an eligible entity that demonstrates 
the success of the program funded under the grant, 
such as through student, parent, teacher or satisfac-
tion, or program efficacy. 
(4) PRIORITY.—In awarding grants under this 
Act, the Secretary shall award grants to eligible en-
tities that will use the grant to provide programs 
that account for diverse student and community 
needs, including any need for electronic and written 
materials, broadband or connectivity, multiple lan-
guages, and assistance for students with disabilities. 
(5) DIVERSITY
OF
PROJECTS.—In awarding 
grants under this Act, the Secretary shall ensure 
that, to the extent practicable, grants are distributed 
among eligible entities that will serve— 
VerDate Sep 11 2014 
22:36 May 08, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2943.IH
H2943
kjohnson on DSK79L0C42PROD with BILLS
(A) geographically diverse areas, including 
urban, suburban, and rural areas; and 
(B) diverse types of elementary schools 
and secondary schools. 
SEC. 3. DEFINITIONS. 
In this Act: 
(1) ELEMENTARY SCHOOL.—The term ‘‘elemen-
tary school’’ has the meaning given such term in 
section 8101 of the Elementary and Secondary Edu-
cation Act of 1965 (20 U.S.C. 7801(19)), and in-
cludes a home school that provides elementary edu-
cation, as such terms are defined under State law. 
(2) ELIGIBLE ENTITY.— 
(A) IN GENERAL.—The term ‘‘eligible enti-
ty’’ means an entity— 
(i) with demonstrated expertise in the 
development of strategies designed to im-
prove understanding of personal finance 
topics among elementary school or sec-
ondary school students; and 
(ii) that may be in a partnership with 
a community group, financial institution, 
or another educational entity. 
(B) DEMONSTRATED EXPERTISE.—In this 
paragraph, the term ‘‘demonstrated expertise’’ 
VerDate Sep 11 2014 
22:36 May 08, 2023
Jkt 039200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H2943.IH
H2943
kjohnson on DSK79L0C42PROD with BILLS
includes expertise demonstrated through post- 
program performance data (such as post-pro-
gram review by parents, teachers, and students 
that shows demonstrated learning and efficacy 
of program, and post-program student work- 
product that demonstrates real learning). 
(3) PERSONAL
FINANCE
TOPICS.—The term 
‘‘personal finance topics’’ includes bank accounts, 
credit union accounts, credit and debit cards, online 
banking, mobile payment services, student loans, 
taxes, mortgages, credit reports, debt management, 
investing, lending, retirement planning, trade-offs, 
the power of compound interest, and saving. 
(4) SECONDARY
SCHOOL.—The term ‘‘sec-
ondary school’’ has the meaning given such term in 
section 8101 of the Elementary and Secondary Edu-
cation Act of 1965 (20 U.S.C. 7801(45)), and in-
cludes a home school that provides secondary edu-
cation, as such terms are defined under State law. 
(5) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Education. 
Æ 
VerDate Sep 11 2014 
22:36 May 08, 2023
Jkt 039200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6301
E:\BILLS\H2943.IH
H2943
kjohnson on DSK79L0C42PROD with BILLS