Equalization in Education Act of 1992

[AI summary unavailable — showing source text] Equalization in Education Act of 1992 - Title I: Equalization of State Spending for Public Education - Prohibits any State from receiving Federal educational assistance for distribution to its public elementary and secondary schools, after August 1, 1996, unless it: (1) employs an equitable method for financing such schools, as determined by the Secretary of Education (the Secretary); or (2) has in effect a State equalization plan approved by the Secretary. Exempts from such prohibition Federal assistance received under provisions for educationally disadvantaged children under chapter 1 of title I of the Elementary and Secondary Education Act of 1965 (ESEA chapter 1). Requires direct distribution to the local education agencies within the State of any Federal funds denied to a State under this Act, so that funding purposes may be carried out and equalized financing standards met. Directs the Secretary to provide requested technical assistance to any State to assist in complying with this Act. Directs the Secretary to review annually each State's school financing methods to determine compliance with standards for equalized financing established by the Secretary under this Act. Requi…