Education Capital Fund Act of 1990

[AI summary unavailable — showing source text] Education Capital Fund Act of 1990 - Establishes the Education Capital Fund Board (the Board) as an independent agency. Authorizes the Board to enter into contracts with eligible entities to pay for the Federal share of the costs of educational reform projects. Lists the types of such projects for which such funds may be used. Requires such contracts to be competitive, with specified considerations and priorities, for periods of from three to ten years. Sets forth requirements for applications and contracts. Requires that eligible entities include: (1) local education agencies; (2) consortia of such agencies; (3) schools or consortia of schools in such agencies; or (4) nonprofit organizations with a special ability to carry out educational reform projects. Directs the Board to disseminate widely information about funding. Sets the Federal share of such projects at 75 percent, and requires the non-Federal share to be a cash contribution. Requires that funding under this Act not be taken into consideration in other Federal or State funding decisions, except to the extent that additional assistance is sought for a project receiving assistance under this Act. Sets forth nondiscriminati…