Midwest Schools Disaster Recovery Act

Midwest Schools Disaster Recovery Act - Authorizes the Secretary of Education to make payments to Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, and Wisconsin to enable such states to assist their local educational agencies (LEAs) in recovering from the severe storms and flooding that hit the Midwest during the months of May and June, 2008.

Protects such LEAs, that serve major disaster areas due to those storms and floods, from experiencing a FY2009 reduction of school improvement funds under part A of title I (Improving the Academic Achievement of the Disadvantaged) of the Elementary and Secondary Education Act of 1965.

Authorizes the Secretary to waive or modify the application of maintenance of effort and cost-sharing conditions on the receipt of educational funding by entities in states affected by such disaster.

Directs the Secretary to provide: (1) temporary emergency Impact Aid to states and, through them, to LEAs and Indian schools to enable such LEAs and schools to instruct students displaced by such disaster; and (2) assistance, consistent with the McKinney-Vento Homeless Assistance Act, to LEAs serving students rendered homeless by such disaster.

Terminates this Act's programs on August 1, 2009.