To amend section 7014 of the Elementary and Secondary Education Act of 1965 to advance toward full Federal funding for impact aid, and for other purposes.

This bill reauthorizes through FY2026 certain activities under the Impact Aid Program. The program provides funding to local educational agencies that have lost property tax revenue due to the presence of tax-exempt federal property or to those that have experienced increased expenditures due to enrollment of federally connected children (e.g., children living on Indian lands or military bases).

Bill 117 hr 5255, also known as the Impact Aid Funding Enhancement Act, aims to make changes to section 7014 of the Elementary and Secondary Education Act of 1965 in order to move closer to providing full federal funding for impact aid. Impact aid is a program that provides financial assistance to school districts that have a high number of federally connected students, such as those whose parents work on federal land or in the military.

The bill seeks to increase the amount of federal funding available for impact aid, which would help alleviate the financial burden on school districts that serve these federally connected students. By advancing towards full federal funding for impact aid, the bill aims to ensure that all students have access to a quality education, regardless of their parents' employment status.

In addition to increasing funding for impact aid, the bill also includes provisions for improving the distribution of funds and ensuring that they are used effectively to support the education of federally connected students. This includes requirements for transparency and accountability in how the funds are allocated and spent. Overall, the Impact Aid Funding Enhancement Act is aimed at improving the support for school districts that serve federally connected students and ensuring that all students have access to a quality education.