Teacher:In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? Solve this instance: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Building Our Children's Future Act
of 2002''.

SEC. 2. FINDINGS; PURPOSE.

(a) Findings.--Congress finds the following:
(1) According to a 1995 General Accounting Office report,
the unmet need for school construction and renovation in the
United States is $112,000,000,000. The National Center for
Education Statistics further found that /4\ of the Nation's
schools need funding to bring buildings up to good overall
condition.
(2) The Department of Education has found that the average
age of a public school building is 42 years, an age when
schools tend to deteriorate.
(3) According to a 1999 report from the National Education
Association, at least an additional 2,400 new public schools
will be needed by 2003 to accommodate the ''baby boom echo''.
(4) In 2000, the General Accounting Office reported that
annual school construction expenditures increased nationally by
39 percent from fiscal year 1990 through 1997, from
$17,800,000,000 to $24,700,000,000.
(5) Studies have found a link between school building
conditions and student learning. In 1996, Dr. Glenn Earthman of
the Virginia Polytechnic Institute and State University
compared test scores in substandard and above standard schools,
and found a positive correlation between school conditions and
test scores.
(6) Rural schools face different and difficult school
modernization needs and often have limited financial resources
to meet their needs. In 1996, the General Accounting Office
reported that 30 percent of small town and rural schools have
at least 1 inadequate building and 52 percent have at least 1
building feature, such as a roof, plumbing, heating or air
conditioning, needing repair or replacement.
(7) Schools in smaller areas have low tax bases that make
it difficult to pay for bond financing costs. Also, such
schools' bond issues are relatively small and unfamiliar to
investors, making them less attractive.
(8) In 2000, the General Accounting Office reported that
areas with the highest enrollment growth rates also tend to
have the highest construction expenditures per pupil.
(9) In addition to basic infrastructure, providing students
and teachers access to technology will be a critical part of
school improvement in the 21st century, and the provision of
such access will require renovation.
(10) The Federal Government has made a commitment to
support the education of students with disabilities and
providing such education can require renovation and increased
construction costs.
(b) Purpose.--It is the purpose of this Act to provide grants for
school renovation, repair, and construction, with priority given to
serving schools that--
(1) have been damaged or destroyed by a natural disaster;
or
(2) the State determines are high poverty or high growth
schools.

SEC. 3. DEFINITIONS.

In this Act:
(1) Local educational agency.--The term ''local educational
agency'' has the meaning given such term in section 9101 of the
Elementary and Secondary Education Act of 1965 (20 U.S.C.
7801).
(2) Outlying area.--The term ''outlying area'' has the
meaning given such term in section 9101 of the Elementary and
Secondary Education Act of 1965 (20 U.S.C. 7801).
(3) Secretary.--The term ''Secretary'' means the Secretary
of Education.
(4) State.--The term ''State'' means each of the 50 States,
the District of Columbia, and the Commonwealth of Puerto Rico.

SEC. 4. GRANTS FOR SCHOOL RENOVATION.

(a) Allotments.--
(1) Reservation of funds.--From funds appropriated under
subsection (c) for a fiscal year, the Secretary shall--
(A) reserve 7.5 percent to award grants to local
educational agencies--
(i) that received a basic support payment
under section 8003(b) of the Elementary and
Secondary Education Act of 1965 (20 U.S.C.
7703(b)) for the preceding fiscal year; and
(ii) with respect to which the number of
children determined under section 8003(a)(1)(C)
of the Elementary and Secondary Education Act
of 1965 (20 U.S.C. 7703(a)(1)(C)) for the
preceding school year constituted at least 50
percent of the total student enrollment in the
schools of that agency during the preceding
school year,
for the construction, renovation, or repair of schools
served by those agencies; and
(B) reserve 0.325 percent to award grants to local
educational agencies in the outlying areas for the
renovation or repair of high-need schools (as defined
in section 2304(d)(3) of the Elementary and Secondary
Education Act of 1965 (20 U.S.C. 6674(d)(3))) served by
such agencies.
(2) Allotment to states.--
(A) In general.--Subject to subparagraph (B), from
funds appropriated under subsection (c) for a fiscal
year that are not reserved under paragraph (1), the
Secretary shall make an allotment to each State in an
amount that bears the same relation to the funds as the
amount the State received under part A of title I of
the Elementary and Secondary Education Act of 1965 (20
U.S.C. 6311 et seq.) for the preceding fiscal year
bears to the amount received by all States under such
part for the preceding fiscal year.
(B) Minimum grant amount.--No State receiving an
allotment under subparagraph (A) shall receive less
than /2\ of 1 percent of the total amount allotted
under such subparagraph.
(b) Grants to Local Educational Agencies.--A State that receives an
allotment under subsection (a)(2) shall expend--
(1) 75 percent of the allotted funds to award grants, on a
competitive basis, to local educational agencies for the
renovation or repair of schools served by the agencies, with
priority given to the renovation or repair of schools that--
(A) have been damaged or destroyed by a natural
disaster; or
(B) the State determines are high poverty or high
growth schools; and
(2) 25 percent of the allotted funds to award grants, on a
competitive basis, to local educational agencies--
(A) to carry out part B of the Individuals with
Disabilities Education Act (20 U.S.C. 1400 et seq.); or
(B) to improve technology in the schools served by
the local educational agencies.
(c) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this Act $1,000,000,000 for fiscal year 2003
and each of the 4 succeeding fiscal years.
Student:
Building Our Children's Future Act of 2002 - Establishes a grant program for renovation of schools.Directs the Secretary of Education to allot such grants to States using an allocation formula based on part A of title I of the Elementary and Secondary Education Act of 1965.Requires reservation of specified amounts for direct Federal grants to: (1) local educational agencies (LEAs) that received impact aid basic support payments, and had eligible federally-connected students as more than half of their enrollment, during the preceding fiscal year, for construction, renovation, or repair; and (2) LEAs in the outlying areas, for renovation or repair of high-need schools.Requires a State's allotment to be used for competitive subgrants to LEAs, as follows. Requires 75 percent to be for school renovation or repair, with priorities for: (1) schools damaged or destroyed by a natural disaster; and (2) high-poverty or high-growth schools, as determined by the State. Requires the remaining 25 percent to be for carrying out part B of the Individuals with Disabilities Education Act, or for improving technology in schools.