National Education Investment Act

[AI summary unavailable — showing source text] National Education Investment Act - Title I: Grants for Construction and Acquisition of Facilities and Equipment for Schools Serving Children of Low-Income Families - Elementary and Secondary School Construction Act - States that it is the policy of the United States to provide financial assistance to local educational agencies serving areas with concentrations of children from low-income families to construct, reconstruct, renovate, and improve elementary and secondary school facilities so as to more effectively meet the special educational needs of educationally deprived children. Authorizes the Commissioner of Education to make payments to State educational agencies for a grant to local educational agencies for the period beginning July 1, 1973, and ending June 30, 1977. Specifies a formula by which the Commissioner shall determine the maximum grant which a local educational agency shall be eligible to receive under this title. Sets forth requirements which such an agency must meet to be eligible for a grant under this title. Provides that a local educational agency may receive a grant under this title upon the approval of its application by the State educational agency. Require…