Public Education Reinvestment, Reinvention, and Responsibility Act (Three R's)

[AI summary unavailable — showing source text] Public Education Reinvestment, Reinvention, and Responsibility Act (Three R's) - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to revise, and reauthorize appropriations for, certain ESEA programs. Sets forth national educational priorities, including: (1) performance-based funding; (2) State and local flexibility in using funds to achieve high student performance objectives; and (3) concentration of funding on impoverished areas, and on a small number of goals, including compensatory education for disadvantaged children and youth, teacher quality and professional development, programs for limited English proficient students, public school choice programs, innovative educational programs, student safety, and the incorporation of educational technology. Revises and renames ESEA title I as Student Performance programs, including: (1) the basic program for assistance to local educational agencies (LEAs) to help disadvantaged schoolchildren to achieve high standards; (2) Even Start family literacy programs; (3) education of migratory children; and (3) programs for neglected or delinquent youth, including those at-risk of dropping out. Reauthorizes appropriations for a…