STEM Education in Accounting Act
Bill: S.3398 | Sponsor: Sen. Collins, Susan M. (R-ME)
Policy area: Education

Summary:
STEM Education in Accounting Act
This bill authorizes states and local educational agencies (LEAs) to use grant funds provided through the Student Support and Academic Enrichment Program for accounting education. In particular, LEAs may use these grant funds to implement programs to teach accounting, including by increasing access to high-quality accounting courses through 12th grade for students who are members of underrepresented groups.

To amend the Student Support and Academic Enrichment Grant program to 
 promote career awareness in accounting as part of a well-rounded STEM 
                        educational experience.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``STEM Education in Accounting Act''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) The accounting profession is working to ensure that it 
        meets the needs of the public, businesses, governments, and 
        not-for-profit organizations in a technology-driven 
        marketplace.
            (2) Promoting diversity, equity, and inclusion within the 
        accounting profession fosters a field that is reflective of the 
        local, regional, and global communities it serves, and is 
        better positioned to innovate around the complex issues facing 
        organizations of all kinds and the evolving public interest.
            (3) Early exposure to the accounting profession through 
        family, friends, and other community interactions, or relevant 
        elementary and secondary course offerings, increases 
        opportunity for students to recognize the limitless 
        possibilities of a career in accounting, and therefore inspires 
        that professional trajectory.
            (4) This Act seeks to build on existing financial literacy 
        initiatives by establishing the significance of early course 
        offerings in accounting education as drivers for improving 
        career opportunity and diversity within this STEM profession.
            (5) There is a clear and logical integration between 
        accounting and technology: as the profession continues to 
        advance its use of technology to serve the public interest, 
        accounting professionals, including CPAs, are technological 
        leaders who manage and analyze big data, ensure data security, 
        manage cybersecurity risk, and work alongside Information 
        Technology professionals.

SEC. 3. ACCOUNTING AS PART OF A WELL-ROUNDED EDUCATIONAL EXPERIENCE.

    Subpart 1 of part A of title IV of the Elementary and Secondary 
Education Act of 1965 (20 U.S.C. 7111 et seq.) is amended--
            (1) in section 4104(b)(3)(A)(i), by--
                    (A) striking ``or'' at the end of subclause (VI);
                    (B) redesignating subclause (VII) as subclause 
                (VIII); and
                    (C) inserting after subclause (VI) the following 
                new subclause:
                                    ``(VII) accounting education, 
                                including accounting career awareness; 
                                or''; and
            (2) in section 4107(a)(3), by--
                    (A) striking ``or'' at the end of subparagraph (I);
                    (B) redesignating subparagraph (J) as subparagraph 
                (K); and
                    (C) inserting after subparagraph (I) the following 
                new subparagraph:
                    ``(J) activities to promote the development, 
                implementation, and strengthening of programs to teach 
                accounting, including increasing access to high-quality 
                accounting courses for students through grade 12 who 
                are members of groups underrepresented in accounting 
                careers; or''.
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