Federal Elementary and Secondary Education Assistance Act of 1980

Federal Elementary and Secondary Education Assistance Act of 1980 - Directs the Secretary of Education to make a payment to each local educational agency in an amount equal to: (1) $100 multiplied by the number of children aged five through 17, inclusive, in the school district of such local educational agency for fiscal year 1981; (2) $150 multiplied by such number for fiscal year 1982; and (3) $200 multiplied by such number for fiscal year 1983. Requires that such number be determined on the basis of the most recent satisfactory data available from the Department of Commerce for such agencies (or for counties, if unavailable for such agencies).

Provides for ratable reductions of the amounts of such payments if appropriations for any fiscal year are not sufficient.

Requires such agencies to expend such funds only in accordance with laws and procedures applicable to the expenditure of their own funds.

Authorizes appropriations of sums necessary to pay in full the sum of the amounts which all local educational agencies are eligible to receive under this Act for fiscal years 1981, 1982, and 1983.