Equal Protection School Finance Act

[AI summary unavailable — showing source text] Equal Protection School Finance Act - Provides for a system to help equalize funding for education within States. Makes a State ineligible for Federal funds administered by the Department of Education to support elementary and secondary education unless the coefficient of variation of per pupil expenditures in local educational agencies statewide for elementary and secondary education is greater than ten percent. Authorizes the Secretary of Education to provide such funding to a noncompliant State if that State submits a plan which the Secretary determines will bring the State into compliance within five years. Sets forth procedures for compliance reporting, certification, and challenges. Directs the Secretary to reallocate to compliant States, and States developing or implementing compliance plans, any funds that are not distributed to noncompliant States.…