To amend the Internal Revenue Code of 1986 to extend qualified zone academy bonds for 2 years and to reduce the private business contribution requirement with respect to such bonds, and for other purposes.

Amends the Internal Revenue Code, with respect to qualified zone academy bonds, to: (1) extend through 2015 the national limitation amount for such bonds, and (2) reduce from 10% to 5% of bond proceeds the required contribution amount for private businesses.