Financial Assistance for Elementary and Secondary Education Act

[AI summary unavailable — showing source text] Financial Assistance for Elementary and Secondary Education Act - Title I: General Provisions - Authorizes appropriations for purposes of titles II and III of this Act. States that an amount not to exceed three percent of such appropriations be used to meet the education needs existing in American territories and for Indian children at schools operated by the Department of Interior. Allots to each State from such appropriations $5,000,000 annually or the amount allotted to that State in the preceding fiscal year under this Act or programs consolidated under this Act whichever is less and 85 percent of the amount in excess of $5,000,000 allotted to that State under such programs. Directs that the remaining appropriations be allocated to each State based on a ratio of the number of children from low-income areas in such State. Requires that any State desiring grants under this Act: (1) designate the agency which will administer such assistance; (2) develop a plan meeting specified requirements for the use of such funds; (3) certify to the Commissioner of Education that it has such a plan; (4) certify annually that it has complied with such plan; (5) develop procedures for the periodi…