Surplus School Conservation Act

Surplus School Conservation Act - Directs the Secretary of Housing and Urban Development to make grants to local agencies to pay the costs of renovating closed school buildings so they may be converted for other educational and social purposes. Suggests purposes for which conversion grants may be extended, including: (1) community centers; (2) senior citizen centers; (3) day care centers; (4) vocational schools; (5) medical facilities; and (6) recreational centers.

Sets forth application requirements which local agencies must complete including: (1) structuring a plan for renovation of the closed school building; (2) estimating costs of such renovation; and (3) demonstrating to the Secretary's satisfaction sufficient financial ability to carry out the provisions of such plan.

States that the amount of a grant under this Act shall be 80 percent of the estimated cost of renovation.

Requires local agencies which receive a grant for more than the actual cost of renovation to return such surplus money to the Secretary.

Sets priorities to be followed by the Secretary in approving applications for grants under this Act including: (1) an application for renovating a closed school building in a school district whose current school enrollments have decreased by ten percent or more from the enrollments of the previous school year, and (2) an application for renovating a closed school building which is not being utilized for any educational or social service purpose at the time of application.

Directs the Secretary to provide information on feasible alternative uses for closed school buildings to local agencies.

Requires the Secretary to report on such program to Congress and the President.