Gifted and Talented Children's Educational Assistance Act

Gifted and Talented Children's Educational Assistance Act - States that it is the purpose of this Act to assist State and local educational agencies to develop special educational programs for gifted and talented children and youth. Provides that the Commissioner of Education shall designate an administrative unit within the Office of Education to administer the programs and projects authorized by this Act and to coordinate all Federal programs for gifted and talented children and youth.

Authorizes the commissioner to establish independently or locate in an existing clearinghouse the National Clearinghouse on Gifted and Talented Children and Youth. States that the clearinghouse shall obtain and disseminate to the public information pertaining to the education of such youth. Authorizes to be appropriated for the establishment and operation of the clearing house $1,000,000 for fiscal year 1973 and $1,000,000 for fiscal year 1940.

Authorizes the Commissioner to make grants to assist the States in the initiation, expansion, and improvement of programs and projects for the education of such youth at the preschool, elementary and secondary school levels. Authorizes to be appropriated for the purpose of making such grants $50,000,000 for fiscal year 1973 and $60,000,000 for fiscal year 1974.

Provides that three percent of the amounts appropriated for such grants shall be allotted among Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Trust territory of the Pacific according to their respective needs. States that eighty-two percent of the amounts appropriated shall be allotted to the States according to a formula set forth in this Act, except that no State shall be allotted less than $50,000. Provides that fifteen percent of such funds shall be used for special project grants.

Provides that any State which desires to receive such grants shall submit a State plan through its State educational agency to the Commissioner. Sets forth requirements that each such plan shall contain. Provides for judicial review of the Commissioner's final action with respect to the approval of State plans under this Act.

Authorizes the Commissioner to make grants to State educational agencies to assist them in establishing or maintaining a program for training personnel engaged in or preparing to engage in educating gifted and talented children and youth. Authorizes to be appropriated $15,000,000 for fiscal year 1973 and $20,000,000 for fiscal year 1974. Provides that at least fifty percent of such funds but not more than seventy-five percent shall be expended for the training of such personnel.

Authorizes the Commissioner to conduct or make grants to or enter into contracts with States or other organizations set forth in this Act for research and related purposes, relating to the education of gifted and talented youth. Authorizes to be appropriated $14,000,000 for fiscal year 1973 and $16,000,000 for fiscal year 1974.