National Education Investment Act

Summary

National Education Investment Act -- Establishes the National Education Trust Fund within the Treasury. States the purposes of such fund to be: (1) to provide funds for the reduction or elimination of real property taxation as a means of financing elementary and secondary education; (2) to promote equitable per pupil expenditures; and (3) to achieve State tax systems based upon the personal income of all State residents to finance such education. Authorizes to be appropriated to the fund such sums as may be necessary for the fiscal year ending September 30, 1978, and the succeeding two fiscal years. Establishes procedures for State and local governments to receive monies from the fund, and provides for judicial review of the Secretary of the Treasury's decisions regarding applications.

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1 official file

• Introduced in Senate

  summary · EN · 18 March 1977

  Open at official source

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