Economic literacy training for certain employees of the executive office of the President

(a)

Establishment

Not later than 120 days after the date of the enactment of this Act, the Executive Office of the President shall establish a program (in this Act referred to as the Program) to provide covered employees training on economic literacy.(b)

Training course

(1)

In general

Except as provided in paragraph (2), the training provided under the Program shall include a course or program on economic literacy that—(A)primarily provides instruction on inflation; and(B)is accredited by a nationally recognized accrediting agency or association that provides standards for economic or financial education, as determined by the Director of the National Economics Council.(2)

Alternative course or program selection

(A)

In general

During any period in which no course or program described in paragraph (1) is reasonably available for covered employees to participate in under the Program, as determined by the Director of the National Economics Council—(i)paragraph (1) shall not apply; and(ii)the Program shall require covered employees to participate in a course or program on economic literacy that is selected by the Director and includes instruction on inflation.(B)

Selection deadline

Not later than 60 days after the Director of the National Economics Council makes the determination described in subparagraph (A), the Director shall make the selection described in subparagraph (A)(ii).(c)

Timing

(1)

In general

Each covered employee shall receive training on economic literacy under the Program—(A)in the case of an individual that is a covered employee as of the date on which the Program is established, not later than 90 days after such date; or(B)in the case of an individual that becomes a covered employee after the date on which the Program is established, not later than 90 days after the date such individual becomes a covered employee.(2)

Tolling

Each period of time specified in paragraph (1) shall be tolled during any period of time for which the Director of the National Economics Council has made a determination described in subsection (b)(2)(A) and has not made a selection described in subsection (b)(2)(A)(ii).(d)

Reports

(1)

Annual certification

Not later than one year after the date of the enactment of this Act, and annually thereafter, the Director of the Office of Administration of the Executive Office of the President shall submit to Congress a report certifying whether the Executive Office of the President has complied with the requirements of this section during the one-year period ending on the date on which the report is submitted.(2)

Noncompliant employee list

On each January 1 and June 1 occurring after the date that is 90 days after the date on which the Program is established, the Director of the Office of Administration of the Executive Office of the President shall submit to the Committee on Oversight and Reform of the House of Representatives and the Committee on Homeland Security and Governmental Affairs of the Senate a list of each covered employee that has not received training on economic literacy in accordance with this section.(e)

Covered employee defined

In this Act, the term covered employee means an employee (as defined in section 2105(a) of title 5, United States Code) of the Executive Office of the President.