H.R.1538 - National Financial Literacy Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Johnson, Eddie Bernice [D-TX-30] (Introduced 04/12/2013)|
|Committees:||House - Ways and Means; Financial Services|
|Latest Action:||04/12/2013 Referred to House Financial Services (All Actions)|
This bill has the status Introduced
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Summary: H.R.1538 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (04/12/2013)
National Financial Literacy Act of 2013 - 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.