S.Amdt. 1106

SA 1106. Mrs. MURRAY submitted an amendment intended to be proposed
to amendment SA 1058 proposed by Mr. Dodd (for himself and Mr. Shelby)
to the bill H.R. 627, to amend the Truth in Lending Act to establish
fair and transparent practices relating to the extension of credit
under an open end consumer credit plan, and for other purposes; which
was ordered to lie on the table; as follows:

At the end of title V, add the following:

SEC. 503. FINANCIAL AND ECONOMIC LITERACY.

(a) Report on Federal Financial and Economic Literacy
Education Programs.--
(1) In general.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Education and the
Director of the Office of Financial Education of the
Department of the Treasury shall coordinate with the
President's Advisory Council on Financial Literacy--
(A) to evaluate and compile a comprehensive summary of all
existing Federal financial and economic literacy education
programs, as of the time of the report; and
(B) to prepare and submit a report to Congress on the
findings of the evaluations.
(2) Contents.--The report required by this subsection shall
address, at a minimum--
(A) the 2008 recommendations of the President's Advisory
Council on Financial Literacy;
(B) existing Federal financial and economic literacy
education programs for grades kindergarten through grade 12,
and annual funding to support these programs;
(C) existing Federal postsecondary financial and economic
literacy education programs and annual funding to support
these programs;
(D) the current financial and economic literacy education
needs of adults, and in particular, low- and moderate-income
adults;
(E) ways to incorporate and disseminate best practices and
high quality curricula in financial and economic literacy
education; and
(F) 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.
(b) Strategic Plan.--
(1) In general.--The Secretary of Education and the
Director of the Office of Financial Education of the
Department of the Treasury shall coordinate with the
President's Advisory Council on Financial Literacy to develop
a strategic plan to improve and expand financial and economic
literacy education.
(2) Contents.--The plan developed under this subsection
shall--
(A) incorporate findings from the report and evaluations of
existing Federal financial and economic literacy education
programs under subsection (a); and
(B) include proposals to improve, expand, and support
financial and economic literacy education based on the
findings of the report and evaluations.
(3) Presentation to congress.--The plan developed under
this subsection shall be presented to Congress not later than
90 days after the date that the report under subsection (a)
is submitted to Congress.
(c) Effective Date.--Notwithstanding section 3, this
section shall become effective on the date of enactment of
this Act.
______