Bill Summary & Status for the 107th Congress

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S.2628
Title: A bill to amend part A of title IV of the Social Security Act to require a State to promote financial education under the temporary assistance to needy families program and to allow financial education to count as a work activity under that program.
Sponsor: Sen Corzine, Jon [NJ] (introduced 6/17/2002)      Cosponsors: 4
Latest Major Action: 6/17/2002 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
6/17/2002:
Introductory remarks on measure. (CR S5633-5634)
6/17/2002:
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5634)
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(4), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Akaka, Daniel K. - 6/26/2002 [HI] Sen Kennedy, Edward M. - 6/17/2002 [MA]
Sen Sarbanes, Paul S. - 7/17/2002 [MD] Sen Torricelli, Robert G. - 6/17/2002 [NJ]

SUMMARY AS OF:
6/17/2002--Introduced.

TANF Financial Education Promotion Act of 2002 - Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to require a State to specify in its State plan how it intends to establish goals and take action to promote financial education among parents and caretakers receiving assistance under TANF through collaboration with community-based organizations, financial institutions and the Cooperative State Research, Education, and Extension Service of the Department of Agriculture.

Defines "financial education" as education that promotes an understanding of consumer, economic, and personal finance concepts, including the basic principles involved with earning, budgeting, spending, saving, investing, and taxation.

Defines "financial education" as a work activity for TANF purposes.