United States 112th Congress Status: Died 1 D cosponsors

HR 4394 — National Financial Literacy Act of 2012

Last action — Referred to the Subcommittee on Financial Institutions and Consumer Credit.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

National Financial Literacy Act of 2012 - 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. Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 4394 on the official United States source →

Action History

  1. Referred to the Subcommittee on Financial Institutions and Consumer Credit.

  2. Referred to House Small Business

  3. Referred to House Financial Services

  4. Referred to House Ways and Means

  5. Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance education
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Frequently asked questions

What does HR 4394 do?
National Financial Literacy Act of 2012 - 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. Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.
Who sponsors HR 4394?
HR 4394 is sponsored by Eddie Johnson (D).
What is the current status of HR 4394?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 4394?
Track HR 4394 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes about 15 hours ago · updated continuously

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