To require the Secretary of the Treasury to establish a pilot national public service multimedia campaign to enhance the state of financial literacy in the United States.

October 15, 2003

Mr. DREIER (for himself, Mr. BACHUS, Mrs. BIGGERT, Mr. HINOJOSA, Mr. KANJORSKI, Mrs. KELLY, Mr. OXLEY, Mr. POMEROY, and Mr. SCOTT of Georgia) introduced the following bill; which was referred to the Committee on Financial Services

To require the Secretary of the Treasury to establish a pilot national public service multimedia campaign to enhance the state of financial literacy in the United States.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Financial Literacy Enhancement Act'.

SEC. 2. PILOT NATIONAL PUBLIC SERVICE MULTIMEDIA CAMPAIGN TO ENHANCE THE STATE OF FINANCIAL LITERACY.

(a) IN GENERAL- The Secretary of the Treasury, or a designee of the Secretary, shall develop, implement, and conduct a pilot national public service multimedia campaign to enhance the state of financial literacy in the United States.

(b) PROGRAM REQUIREMENTS-

(1) PUBLIC SERVICE CAMPAIGN- The Secretary, or a designee of the Secretary, shall select and work with an organization that is especially well-qualified in the distribution of public service campaigns and has secured private sector funds to produce the campaign.

(2) DEVELOPMENT OF MULTIMEDIA CAMPAIGN- The Secretary, or a designee of the Secretary, shall select and work with nonprofit, public, or private organizations that are especially well qualified by virtue of their education, training, or experience in the field of financial education to develop the financial literacy national public service multimedia campaign.

(3) FOCUS OF CAMPAIGN- The pilot national public service multimedia campaign shall focus on any target audience identified by the Secretary.

(c) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to the Secretary of the Treasury not to exceed $3,000,000 for fiscal years 2004, 2005, and 2006 for the development, production, and distribution of a pilot national public service multimedia campaign.

(d) PERFORMANCE MEASURES- The Secretary of the Treasury shall develop measures to evaluate the performance of the pilot national public service multimedia campaign that take into account the effectiveness of the campaign.

(e) REPORT- For each fiscal year for which there are appropriations pursuant to the authorization in subsection (c), the Secretary of the Treasury shall submit a report to the Congress describing the status and implementation of the provisions of this Act and the state of financial literacy in the United States.

END