A bill to provide that any payment to a local educational agency by the Department of Defense, that is available to such agency for current expenditures and used for capital expenses, shall not be considered funds available to such agency for purposes of making certain Impact Aid determinations.

Prohibits the Secretary of Education from considering any payment to a local educational agency by the Department of Defense that is available to such agency for current expenditures and used for capital expenses as funds available to such agency, for purposes of making certain FY 1994 impact aid determinations under specified Federal law, including the Elementary and Secondary Education Act of 1965.