Department of Education Act

[AI summary unavailable — showing source text] Department of Education Act - Establishes an executive department to be known as the Department of Education to be headed by a Secretary of Education appointed by the President. Transfers to such Department all functions and assets of the Office of Education and of the Commissioner of Education, as well as other functions and related assets of the Department of Health, Education, and Welfare under specified laws and provisions of law relating to education. Transfers specified functions and related assets of other executive departments relating to education to such new Department. Redesignates the Department of Health, Education, and Welfare as the Department of Health and Welfare. Authorizes the Secretary to establish a working capital fund for the maintenance and operation of administrative services of the Department. Authorizes the Secretary to provide specified services, supplies, and facilities for employees of the Department and their dependents stationed in remote areas. Allows the Secretary of the Treasury to invest and reinvest in securities of the United States or in federally guaranteed securities, any moneys contained in the capital fund created by the Secretary of Educa…