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HR 767 111th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Credit and credit markets Department of the Treasury Employee benefits and pensions Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Financial literacy Financial services and investments Government lending and loan guarantees Income tax credits National Credit Union Administration Public contracts and procurement Small business

National Financial Literacy Act of 2009

Introduced: January 28, 2009 See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 2009
Referred to the Subcommittee on Finance and Tax.
Jan 28, 2009
Referred to House Small Business
Jan 28, 2009
Referred to House Financial Services
Jan 28, 2009
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Small Business, 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.
Jan 28, 2009
Referred to House Ways and Means
Jan 28, 2009
Introduced in House
 Plain-English summary Congressional Research Service

National Financial Literacy Act of 2009 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.

Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs.

Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees.

Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.

What's happening now January 28, 2009

Referred to the Subcommittee on Finance and Tax.

 Committees of jurisdiction 4
 Cosponsors 3
All 3 Democratic 3