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Full Text of this Amendment
In lieu of the matter proposed to be inserted, insert the following:
SEC. 503. FINANCIAL AND ECONOMIC LITERACY.
(a) In General.--Not later than 180 days after the date of enactment of this Act, the Financial Literacy and Education Commission shall--
(1) evaluate and compile a comprehensive summary of all existing Federal financial and economic literacy education programs, as of the time of the report; and
(2) prepare and submit a report to Congress that includes--
(A) the findings of the evaluations and the effectiveness of Federal financial and economic literacy education programs, including programs included in the Commission's 2006 National Strategy for Financial Literacy report;
(B) recommendations for improvements to Federal financial and economic literacy education programs;
(C) specific Federal policies that should be implemented, updated, or changed to improve financial and economic literacy education;
(D) a description of any gaps that exist in research on financial and economic literacy education, and recommendations on research that would fill those gaps;
(E) specific recommendations on sources of revenue to support financial and economic literacy education activities, with a specific analysis of the potential use of credit card transaction fees; and
(F) recommendations for ways to increase the awareness of elementary and secondary schools, postsecondary educational institutions, and the general public of the Commission's website, www.MyMoney.gov, or any successor to such website.
(b) Effective Date.--Notwithstanding section 3, this section shall become effective on the date of enactment of this Act.
(As printed in the Congressional Record for the Senate on May 14, 2009.)