A bill to amend the Elementary and Secondary Education Act of 1965 to provide Federal financial assistance to local educational agencies in order to assist them in meeting the emergency caused by the high costs of fuel and fuel shortages and adverse weather conditions.

Adds a new title to the Elementary and Secondary Education Act of 1965: "Title X - Emergency Assistance for Schools." Directs the Commissioner of Education to make basic grants to local educational agencies to pay 50 percent of the costs related to energy conservation measures.

Authorizes the appropriation for such basic grants of $350,000,000 for fiscal year 1978 and for each succeeding fiscal year through fiscal year 1981.

States that such basic grants shall be allocated among the States in an equitable manner and among certain U.S. possessions.

Requires the filing of an application with the Commissioner before any payments may be made for basic grants. Stipulates that such application shall include: (1) assurances that the high cost of fuel, energy shortage, or harsh weather conditions placed the applicant in need of assistance; (2) a full description of the energy conservation measures to be taken; (3) a statement of the policy and procedures to be utilized to assure proper use of such basic grants; (4) procedures for evaluating the effectiveness of the assistance given under this Act; (5) procedures for fiscal control and fund accounting; and (6) a provision requiring the furnishing of reports and the keeping of such records as the Commissioner may reasonably require.

Permits the Commissioner to approve an application only if it meets these requirements and it has first been submitted to the appropriate State agency for comment.

Authorizes the Commissioner to make grants to State agencies and educational institutions for 66.6 percent of the costs of demonstration projects involving the development and use of energy conservation measures which show unusual promise of promoting the objectives of this Act.

Directs the Commissioner, to the extend practicable, to provide for the equitable distributions of aid among the States for demonstration projects.

Prohibits the making of a grant for such project unless the Commissioner (1) determines that assistance is necessary because of high energy costs, energy shortages, or harsh weather conditions; and (2) has an application submitted to him containing such information as he may reasonably require and specifically including (a) assurances that the project is economically feasible (b) the comparative rate of return of the energy component of such project before and after any changes that have been made; and (c) a description of the feasibility of using such project in other communities.

Authorizes the appropriation, for such projects, of $30,000,000 for fiscal year 1978 and for each succeeding fiscal year ending prior to October 1, 1981.

Authorizes the Commission to make grants to State agencies and educational institutions for 50 percent of the costs of providing technical assistance for energy conservation measures.

Prohibits the making of grants for technical assistance unless the Commissioner determines (1) that such assistance is necessary because of high energy costs, the shortage of energy or harsh weather conditions; and (2) the application contains such information as the Commissioner reasonably may require and specifically includes provisions designed to insure such technical assistance will be shared, to the extend practicable, with private schools in the school district of such agency.

Authorizes the appropriation for such assistance of $120,000,000 for fiscal year 1978 and for each succeeding fiscal year ending prior to October 1, 1981.

Permits the Commissioner to waive such percentage limitations placed upon approved applications for basic grants or technical assistance and pay the full costs of such projects if he determines that the applicant is suffering from extreme financial need and could not carry out such project.

Permits the Commissioner to withhold grants made under this Act if after a hearing he finds that an applicant has substantially failed to comply with the requirements of this Act.

Stipulates that nothing in this Act shall be construed as authorizing payments for religious worship or instruction.

Directs the Commissioner to consult with specified officials and groups before promulgating regulations for the submission and approval of applications under this Act.