PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Congressional Research Service
Version 00 · Introduced in House · Mar 19, 2009
Financial and Economic Literacy Improvement Act of 2009 - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to award formula matching grants to states or partnerships between states, experienced nonprofit providers of financial and economic literacy education, and experienced nonprofit providers of teacher training in such fields.
Requires grantees to use 25% of the grant funds to: (1) develop financial and economic literacy standards and assessments for at least three grade levels; (2) create teacher training programs to embed financial and economic literacy education into core academic subjects; and (3) evaluate the impact such education has on students' financial and economic literacy.
Requires the remaining grant funds to be used for subgrants to local educational agencies (LEAs) or partnerships between LEAs and community organizations, local businesses, or other educational entities to implement such financial literacy activities, including student assessments and teacher training.
Showing the opening paragraphs of the official summary.
Directs the Secretary to maintain a Financial and Economic Literacy and Economic Education Clearinghouse of best practices, tools, and instructional materials that are aligned with voluntary nationally recognized curriculum standards in such areas.
Amends the Higher Education Act of 1965 to direct the Secretary to award competitive grants to institutions of higher education (IHEs) or partnerships between IHEs, experienced nonprofit providers of financial and economic literacy education, and experienced nonprofit providers of teacher training in such fields for activities that increase student knowledge in consumer, economic, and personal financial concepts.
People & committees
Rep. McCarthy, Carolyn [D-NY-4] · D–NY
Legislative record
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Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Referred to the House Committee on Education and Labor.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.
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