A bill to amend section 3 (d) (2) (B) of the act of September 30, 1950 (Public Law 874, 81st Congress) to provide for local educational agencies having property of insufficient assessed valuation.

Sets forth a method of computation for the Commissioner of Education to follow in determining the amount of additional Federal assistance due under the Education Amendments of 1974 to educational agencies which lack property of sufficient assessed valuation to generate revenue from a reasonable tax levy sufficient to enable such agency to provide a level of education equivalent to that maintained in comparable school districts of the State.