The Impact Aid Infrastructure Partnership Act aims to create a collaborative Federal-local community partnership to provide funding for facility needs in federally impacted local educational agencies (LEAs). Many of these LEAs serve schools with facilities that fall short of basic life-safety standards, are often over 65 years old, and frequently lack the capacity to issue bonds for necessary repairs or modernization. Studies by the Government Accountability Office have consistently highlighted the poor condition of these facilities and the positive correlation between better facilities and improved student outcomes. The bill authorizes an appropriation of $250,000,000 annually for four fiscal years, with 75 percent designated for competitive grants and 25 percent for formula grants. These funds are intended to supplement, not supplant, existing appropriations for Impact Aid construction. The authority to award these grants will expire at the end of the four-year period, ensuring a focused investment over a defined timeframe. Competitive grants are awarded based on a facility condition priority listing, with Priority One addressing the most urgent needs. This includes facilities certified to be in violation of building codes representing a health hazard, failing to meet CDC health and safety standards (e.g., ventilation, social distancing, structural deficiencies), not meeting student capacity or accessibility standards, or lacking adequate technology infrastructure. Additionally, it covers LEAs needing repair or new construction for teacher housing for personnel residing on Indian Treaty and Federal trust land. Priority Two competitive grants target facilities that do not meet minimum structural or health and safety standards adopted by the American Society of Civil Engineers, such as those with poor indoor air quality, hazardous substances, lead in water, energy inefficiency, or excessive noise. Award criteria further prioritize LEAs with limited or no capacity to issue bonds or those with low assessed property values. Other considerations include the percentage of federally connected children, the learning opportunity threshold, potential for community use, project feasibility within 24 months, and the availability of other resources. Formula grants are distributed in accordance with existing Impact Aid provisions, with expanded calculations for weighted student units to ensure broader eligibility. Payments for grants vary, with full payment provided for LEAs with no bonding capacity or for projects under $5,000,000. Other LEAs are required to provide a non-Federal match ranging from 10 to 25 percent of the total project cost, based on their learning opportunity threshold. Funds can be used for construction, renovation, and repair of school facilities, but not for acquiring real property or for facilities where the agency does not hold full title or a long-term lease. The Secretary of Education is mandated to submit annual reports on projects carried out with these funds.