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).