To amend the Act of September 30, 1950, to require the Secretary of Education to calculate each payment to a local educational agency under section 2 of such Act on the basis of assessed valuation figures provided by the local official responsible for assessing the value of real property located in the jurisdiction of such local educational agency for purposes of levying a property tax.

[AI summary unavailable — showing source text] Amends Federal law relating to impact aid to require the Secretary of Education to calculate each payment to a local educational agency (LEA) on the basis of assessed valuation figures for the acquired Federal property provided by the local official responsible for property tax assessments of real property located in the jurisdiction of such LEA.…