Academic Emergency Act

[AI summary unavailable — showing source text] Academic Emergency Act - Authorizes the Secretary of Education to award grants to States that have one or more designated academic emergency schools to provide parents of children at such schools with education alternatives. Limits to five years the period for which such a grant may be made to a State. (Sec. 3) Authorizes State Governors to designate as academic emergency schools one or more public elementary schools in their States: (1) with a consistent record of poor performance by failing to meet minimum academic standards as determined by the State; and (2) in which more than 50 percent of the children attending are eligible for free or reduced price lunches under the National School Lunch Act. Sets forth requirements for: (1) lists of such schools; (2) State applications, including certain assurances and information; (3) selection, priorities, and criteria for grant awards to States; and (4) State plans. (Sec. 5) Requires recipient States to use such grants to make subgrants to academic emergency schools, based on: (1) the number of eligible students (in grades K through four) attending; (2) the availability of qualified schools near such schools; and (3) the academic perform…