All Year School Study Act - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to carry out a multi-year pilot program awarding four grants to states, local educational agencies, or other public entities to establish or expand year-round education programs at public elementary or secondary schools that focus on raising student achievement.
Allows grantees to increase the salaries of teachers participating in the year-round education programs, but by no more than 100%.
Requires the Secretary to give priority to grant applicants that: (1) propose to carry out year-round education activities that emphasize science, technology, engineering, and mathematics; and (2) target high-poverty areas and low-performing schools.
Directs the Secretary to enter into a contract for an independent evaluation of the pilot program's effectiveness.