S. 2921 — A bill 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 section revises authorizations of appropriations for four Impact Aid programs—financial assistance to local educational agencies (LEAs) for costs associated with federal activities (e.g., military bases, Indian lands) that reduce local tax revenue—by striking prior amounts through FY2020 and authorizing the following for FY2026 through FY2031: (1) for payments related to federal acquisition of real property under section 7002, $90,313,000 in FY2026 increasing annually by $12 million to $150,313,000 in FY2031 (from $66,813,000 for FY2017-FY2019 and $71,997,917 for FY2020); (2) for basic payments and payments for heavily impacted LEAs under section 7003(b), $1,632,476,041 in FY2026 increasing annually by approximately $164 million to $2,453,646,246 in FY2031 (from $1,151,233,000 for FY2017-FY2019 and $1,240,572,618 for FY2020); (3) for payments for children with disabilities under section 7003(d), $60,316,000 in FY2026 increasing annually by $12 million to $120,316,000 in FY2031 (from $48,316,000 for FY2017-FY2019 and $52,065,487 for FY2020); and (4) for construction under section 7007, $22,906,000 in FY2026 increasing annually by $4.5 million to $45,406,000 in FY2031 (from $17,406,000 for FY2017-FY2019 and $18,756,765 for FY2020). (Thus, these programs lack statutory authorization for FY2021-FY2025.)