A bill to amend title 10, United States Code, to require the Secretary of Defense to provide financial assistance to local educational agencies administering public school districts where military installations are located.

Directs the Secretary of Defense to establish and conduct a program to provide direct financial assistance to each local public educational agency that: (1) administers a public school district in which there is located any military installation composed of property that was acquired by the United States since 1938, that was not acquired by exchange for other Federal property owned by the United States before 1939 that was located in the school district, and that had an assessed value aggregating ten percent or more of the assessed value of all real property in the school district; (2) experiences a substantial and continuing financial burden resulting from the acquisition of such property by the United States; and (3) is not being substantially compensated for the loss in revenue resulting from the acquisition of such property by the United States.