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 FY2029 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 118 hr 1591, also known as the Impact Aid Funding for Federal Lands Act, aims to amend section 7014 of the Elementary and Secondary Education Act of 1965 in order to move closer to 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 owned lands, such as military bases or national parks, which are exempt from local property taxes.

The bill seeks to increase the amount of funding available for impact aid, ensuring that these school districts are adequately supported in providing quality education to their students. By advancing towards full Federal funding for impact aid, the bill aims to alleviate the financial burden on these districts and ensure that all students have access to a high-quality education, regardless of the presence of federally owned lands in their communities.

In addition to increasing funding for impact aid, the bill also includes provisions for other purposes related to education and school funding. Overall, the Impact Aid Funding for Federal Lands Act is aimed at improving educational opportunities for students in school districts with a high concentration of federally owned lands, ultimately working towards a more equitable education system for all students in the United States.