Inspiring New STEM Professionals by Investing in Renovation of Education Spaces Act or the INSPIRES Act
Amends the Elementary and Secondary Education Act of 1965 (ESEA) to direct the Department of Education (ED) to support local educational agencies (LEAs), community colleges, and other appropriate entities in modernizing, renovating, or repairing facilities used to provide science, technology, engineering, mathematics, or career and technical education to public elementary, secondary school, or community college students.
Requires ED to furnish such support by providing eligible entities with grants or loan guarantees or by making payments of interest on the financial instruments they use to fund the modernization, renovation, or repair of those facilities.
Prohibits the use of that support for new construction or the payment of routine maintenance costs.
Requires ED to direct at least 25% of the funds made available under this Act to: (1) public schools or secondary schools served by high-need LEAs, or (2) community colleges that serve a substantial number of rural students.