nancial education or personal finance education 
programs. 
‘‘(2) LOW-INCOME FAMILY.—The term ‘low-in-
come family’ means a family below the poverty line, 
as determined under section 1124(c)(2). 
‘‘SEC. 5534. GRANT TO NATIONAL ORGANIZATION TO IM-
PROVE THE QUALITY OF FINANCIAL EDU-
CATION PROGRAMS. 
‘‘(a) AUTHORIZATION.—From the amounts appro-
priated under section 5536, the Secretary may award a 
competitive grant to a national nonprofit educational orga-
nization that has as its primary purpose the improvement 
of the quality of student understanding of personal finance 
and economics through effective teaching of economics in 
the Nation’s classrooms (referred to in this section as the 
‘grantee’). 
‘‘(b) USES OF FUNDS.— 
‘‘(1) DIRECT
ACTIVITIES.—The grantee shall 
use 25 percent of the funds made available through 
the grant for a fiscal year to— 
‘‘(A) strengthen and expand the grantee’s 
relationships with State and local personal fi-
nance, entrepreneurial, and economic education 
organizations; 
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‘‘(B) support and promote training of 
teachers who teach a grade from kindergarten 
through grade 12 regarding economics, includ-
ing the dissemination of information on effec-
tive practices and research findings regarding 
the teaching of economics; 
‘‘(C) support research on effective teaching 
practices and the development of assessment in-
struments to document student understanding 
of personal finance and economics; and 
‘‘(D) develop and disseminate appropriate 
materials to foster economic literacy. 
‘‘(2) SUBGRANTS.—The grantee shall use 75 
percent of the funds made available through the 
grant for a fiscal year to award subgrants to State 
educational agencies or local educational agencies, 
and State or local economic, personal finance, or en-
trepreneurial education organizations (referred to in 
this section as the ‘recipient’). The grantee shall 
award such a subgrant to pay for the Federal share 
of the cost of enabling the recipient to work in part-
nership with one or more of the entities described in 
paragraph (3) for one or more of the following pur-
poses: 
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‘‘(A) Collaboratively establishing and con-
ducting teacher training programs that use ef-
fective and innovative approaches to the teach-
ing of economics, personal finance, and entre-
preneurship. 
‘‘(B) Providing resources to local edu-
cational agencies that desire to incorporate eco-
nomics and personal finance into the curricula 
of the schools served by the agencies. 
‘‘(C) Conducting evaluations of the impact 
of economic and financial literacy education on 
students. 
‘‘(D) Conducting economic and financial 
literacy education research. 
‘‘(E) Encouraging replication of best prac-
tices to promote economic and financial literacy. 
‘‘(3) PARTNERSHIP ENTITIES.—The entities de-
scribed in this paragraph are the following: 
‘‘(A) A private sector entity. 
‘‘(B) A State educational agency. 
‘‘(C) A local educational agency. 
‘‘(D) An institution of higher education. 
‘‘(E) An organization promoting economic 
development. 
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‘‘(F) An organization promoting edu-
cational excellence. 
‘‘(G) An organization promoting personal 
finance or entrepreneurial education. 
‘‘(c) GRANTEE APPLICATIONS.— 
‘‘(1) IN GENERAL.—To be eligible to receive a 
grant under this section, the grantee shall submit to 
the Secretary an application at such time, in such 
manner, and accompanied by such information as 
the Secretary may require. 
‘‘(2) RECIPIENT APPLICATIONS.— 
‘‘(A) SUBMISSION.—To be eligible to re-
ceive a subgrant under this section, a recipient 
shall submit an application to the grantee at 
such time, in such manner, and accompanied by 
such information as the grantee may require. 
‘‘(B) REVIEW.—The grantee shall invite 
the individuals described in subparagraph (C) 
to review all applications from recipients for a 
subgrant under this section and to make rec-
ommendations to the grantee regarding the ap-
proval of the applications. 
‘‘(C) REVIEWERS.—The individuals de-
scribed in this subparagraph are the following: 
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‘‘(i) Leaders in the fields of economics 
and education. 
‘‘(ii) Such other individuals as the 
grantee determines to be necessary, espe-
cially members of the State and local busi-
ness, banking, and finance communities. 
‘‘(d) ADMINISTRATIVE COSTS.—The grantee and 
each recipient receiving a subgrant under this section for 
a fiscal year may use not more than 5 percent of the funds 
made available through the grant or subgrant for adminis-
trative costs. 
‘‘(e) TEACHER TRAINING PROGRAMS.—In carrying 
out the teacher training programs described in subsection 
(b)(2)(A), a recipient shall— 
‘‘(1) train teachers who teach a grade from kin-
dergarten through grade 12; and 
‘‘(2) encourage teachers from disciplines other 
than economics and financial literacy to participate 
in such teacher training programs, if the training 
will promote the economic and financial literacy of 
those teachers’ students. 
‘‘(f) INVOLVEMENT OF BUSINESS COMMUNITY.—In 
carrying out the activities assisted under this section, the 
grantee and recipients are strongly encouraged to— 
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‘‘(1) include interactions with the local business 
community to the fullest extent possible to reinforce 
the connection between economic and financial lit-
eracy and economic development; and 
‘‘(2) work with private businesses to obtain 
matching contributions for Federal funds and assist 
recipients in working toward self-sufficiency. 
‘‘(g) ADDITIONAL REQUIREMENTS AND TECHNICAL 
ASSISTANCE.—The grantee shall— 
‘‘(1) meet such other requirements as the Sec-
retary determines to be necessary to assure compli-
ance with this section; and 
‘‘(2) receive from the Secretary such technical 
assistance as may be necessary to carry out this sec-
tion. 
‘‘(h) FEDERAL SHARE.—The Federal share of the 
cost described in subsection (b)(2) shall be 50 percent. 
‘‘(i) PAYMENT OF NON-FEDERAL SHARE.—The non- 
Federal share may be paid in cash or in kind (fairly evalu-
ated, including plant, equipment, or services). 
‘‘(j) REPORTS
TO CONGRESS.—Not later than 2 
years after the date funds are first made available to carry 
out this section, and every 2 years thereafter, the Sec-
retary shall submit to the appropriate committees of Con-
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gress a report regarding activities assisted under this sec-
tion. 
‘‘SEC. 5535. SUPPLEMENT, NOT SUPPLANT. 
‘‘Funds made available to carry out this subpart shall 
be used to supplement, and not supplant, other Federal, 
State, and local funds expended for the purpose described 
in section 5532(a). 
‘‘SEC. 5536. AUTHORIZATION OF APPROPRIATIONS. 
‘‘(a) IN GENERAL.—There are authorized to be ap-
propriated such sums as may be necessary to carry out 
this subpart for fiscal year 2011 and each of the 5 suc-
ceeding fiscal years. 
‘‘(b) DISTRIBUTION OF FUNDS.—Of the funds appro-
priated under subsection (a) for each fiscal year— 
‘‘(1) the Secretary shall reserve up to 4 percent 
to carry out the activities described in section 5534; 
and 
‘‘(2) shall use the remaining funds to carry out 
section 5533.’’. 
SEC. 3. CONFORMING AMENDMENT. 
The table of contents in section 2 of the Elementary 
and Secondary Education Act of 1965 (20 U.S.C. 6301 
et seq.) is amended by striking the item relating to sub-
part 13 of part D of title V and inserting the following: 
‘‘SUBPART 13—FINANCIAL EDUCATION FOR STUDENTS 
‘‘Sec. 5531. Short title. 
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‘‘Sec. 5532. Purpose and goals. 
‘‘Sec. 5533. Grants to State educational agencies for financial education for 
students. 
‘‘Sec. 5534. Grant to national organization to improve the quality of financial 
education programs. 
‘‘Sec. 5535. Supplement, not supplant. 
‘‘Sec. 5536. Authorization of appropriations.’’. 
Æ 
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