Promote Responsibility by Improving Development Education Act of 2006

Bill: 109-hr-4866
Sponsor: Rep. Ford, Harold E., Jr. [D-TN-9]
Introduced: 2006-03-02 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative procedure
Adoption
Aid to dependent children
Alternative dispute resolution
Authorization
Bank loans
Bankruptcy
Cash welfare block grants
Checks
Civics education
Civil actions and liability
Claims
Collection of accounts
Commerce
Commercial arbitration
Congress
Congressional investigations
Congressional reporting requirements
Consumer credit
Consumer education
Consumer protection
Contracts
Cost of living adjustments
Counseling
Credit unions
Curricula
Debtor and creditor
Department of Education
Department of Health and Human Services
Department of the Treasury
Economics and Public Finance
Education
Electronic funds transfers
Elementary and secondary education
Elementary education
Employee benefit plans
Employee ownership
Ethics
Executive reorganization
Families
Federal Reserve System
Federal aid to education
Federal officials
Federal preemption
Federal-state relations
Finance charges
Financial planning
Financial services
Financial statements
Government Operations and Politics
Housing and Community Development
Income tax
Indexing (Economic policy)
Interest
Interest rates
Labor and Employment
Law
Loans
Mortgages
Pension funds
Personal budgets
Science, Technology, Communications
Secondary education
Social Welfare
State constitutions
State laws
Tax credits
Tax refunds
Usury
Wages

Summary:
action_date: 2006-03-02
text: 
Promote Responsibility by Improving Development Education Act of 2006 - Character Education Act of 2006 - Amends the Elementary and Secondary Education Act of 1965 to increase the amount authorized to be appropriated in FY2007 for the Fund for the Improvement of Education. Reserves a specified amount of such Fund's appropriations in FY2007 and FY2008 for the Partnerships in Character Education program. Directs the Comptroller General to develop a model state character education curriculum.
 
Childhood Adoption Act of 2006 - Amends the Internal Revenue Code to increase the tax credit for adoption expenses and make it refundable. Increases the tax exclusion for employer-paid adoption expenses.
 
Amends title IV, part E (Federal Payments for Foster Care and Adoption Assistance) of the Social Security Act to increase the levels of adoption incentive payments to states and the FY2006-FY2008 authorization of appropriations for such payments.
 
Borrower's Bill of Rights Act - Creates the position of Assistant Secretary for Financial Education in the Department of the Treasury.
 
Amends the Financial Literacy and Education Improvement Act to direct such Secretary to establish a financial literacy pilot program for middle and high school students.
 
Amends the Truth in Lending Act to: (1) require that mandatory disclosures governing loan transactions be easy for consumers to comprehend; (2) prohibit loan flipping and mandatory arbitration; (3) lower the interest rate threshold for high-cost mortgages; (4) require creditors to ensure that consumers receive counseling before extending credit to them under high-cost mortgages; and (5) limit the rollover or refinancing of payday loans with the same creditor.
 
Amends the Depository Institutions Deregulation and Monetary Control Act of 1980 to repeal the preemption of state mortgage usury laws.
 
Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to provide that a state's laws or constitution which expressly limit loan interest, rates, or other charges apply to all depository institutions and credit unions doing business in the state with customers who reside in or are located in the state.
 
Amends the federal bankruptcy code to set an employee's claim to a debtor's equity securities held in a pension fund within the fourth order of priority and exempts such benefits from subordination agreement constraints. Increases the amount of an employee's earnings and benefits within such priority order.


Legislative actions:
action_date: 2006-05-01
text: Referred to the Subcommittee on Education Reform.
action_date: 2006-05-01
text: Referred to the Subcommittee on Employer-Employee Relations.
action_date: 2006-04-21
text: Referred to the Subcommittee on Financial Institutions and Consumer Credit.
action_date: 2006-03-02
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-02
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-02
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-02
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-02
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-02
text: Introduced in House
action_date: 2006-03-02
text: Introduced in House