S.Amdt. 2269

1. Adds SEC. 662. PREVENTION OF VETERANS HOMELESSNESS THROUGH IMPROVED FINANCIAL EDUCATION FOR MEMBERS OF THE ARMED FORCES at the end of subtitle E of title VI

   Adds a section

   In S. 1197 · Placed on Calendar Senate

   "(H) The Department of Justice.".

   Inserted: SEC. 662. PREVENTION OF VETERANS HOMELESSNESS THROUGH IMPROVED FINANCIAL EDUCATION FOR MEMBERS OF THE ARMED FORCES.

   Inserted: (a) Findings.--Congress makes the following findings:

   Inserted: (1) The veterans population, as a percentage of total homeless population, is still extraordinarily high, and higher than the percentage of veterans in the general population.

   Inserted: (2) The Department of Veterans Affairs goal of eliminating homelessness among veterans by 2015 is a laudable goal.

   Inserted: (3) The Department of Veterans Affairs has made significant progress toward reaching the goal of eliminating homelessness among veterans.

   Inserted: (4) Even if the Department of Veterans Affairs reaches the goal of eliminating homelessness among veterans, both the Department of Veterans Affairs and the Department of Defense will need to embrace long-term efforts to prevent future veterans from becoming homeless.

   Inserted: (5) In addition to triggers of homelessness such as lack of employment, Post-Traumatic Stress Disorder (PTSD), substance use and abuse, and a poor support system, veterans who lack basic financial skills may be at a higher risk of becoming homeless.

   Inserted: (6) According to a study by the American Journal of Public Health, many members of the Armed Forces lack basic financial skills such as how to make a household budget.

   Inserted: (7) The lack of basic financial skills puts veterans at higher risk of making poor financial decisions, becoming victims of predatory lenders, and losing housing as a result of these and other financial decisions.

   Inserted: (8) The Department and Defense and the Department of Veterans Affairs have made strides to educate members separating from the Armed Forces through the Transition Assistance Program, but more can be done to educate members about basic financial decision making.

   Inserted: (b) Training for Enlisted on Members on Basic Financial Skills.--

   Inserted: (1) Plan for training.--Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense shall submit to the Committees on Armed Services of the Senate and the House of Representatives a report setting forth a plan for providing improved training on basic financial skills to all enlisted members of the Armed Forces in grade E-3 and above during their military service, The plan shall be based on the reviews required by subsections (c) and (d).

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   Inserted: (2) Commencement of training.--The Secretary shall commence provision of the training described in paragraph (1) in accordance with the plan required by that paragraph by not later than one year after the date of the enactment of this Act.

   Inserted: (c) Reviews of Certain Training.--

   Inserted: (1) Training for officer candidates.--Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense shall conduct a review of the training on financial and economic matters provided to candidates for commissioning as officers in the Armed Forces to determine whether additional training on such matters should be provided to such candidates before commissioning.

   Inserted: (2) Training within tap.--Not later than 180 days after the date of the enactment of this Act, the Secretary shall conduct a review of the training provided through the Transition Assistance Program (TAP) to determine whether training on financial skills provided through that Program is adequate for preparing members for civilian life.

   Inserted: (d) Provision of Basic Financial Skills Training.--

   Inserted: (1) In general.--The Secretary of Defense shall--

   Inserted: (A) review the effectiveness of the initial training on basic financial skills that is provided to enlisted members of the Armed Forces;

   Inserted: (B) assess whether yearly training refreshers should be required for members of the Armed Forces in order to build on the initial training described in subparagraph (A);

   Inserted: (C) review the qualifications required of individuals for the provision of training on basic financial skills to members of the Armed Forces; and

   Inserted: (D) in light of the reviews and assessment under this paragraph, establish a revised curriculum to be followed in the provision of training on basic financial skills for both trainees and trainers.

   Inserted: (2) Consultation.--The Secretary of Defense shall carry out paragraph (1) in consultation with the Secretary of Veterans Affairs, the Secretary of Education, the Consumer Financial Protection Bureau, and such public and private organizations dedicated to financial skills education as the Secretary of Defense considers appropriate.

   Original wording

   At the end of subtitle E of title VI, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed