On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA), historic legislation designed to stimulate the economy, support job creation, and invest in critical sectors, including education. The ARRA lays the foundation for education reform by supporting investments in innovative strategies that are most likely to lead to improved results for students, long-term gains in school and school system capacity, and increased productivity and effectiveness. The ARRA provides $4.35 billion for the Race to the Top Fund, a competitive grant program designed to encourage and reward States that are creating the conditions for education innovation and reform; achieving significant improvement in student outcomes, including making substantial gains in student achievement, closing achievement gaps, improving high school graduation rates, and ensuring student preparation for success in college and careers; and implementing ambitious plans in four core education reform areas: (1) Adopting standards and assessments that prepare students to succeed in college and the workplace and to compete in the global economy; (2) Building data systems that measure student growth and success, and inform teachers and principals about how they can improve instruction; (3) Recruiting, developing, rewarding, and retaining effective teachers and principals, especially where they are needed most; and (4) Turning around our lowest-achieving schools. Race to the Top will reward States that have demonstrated success in raising student achievement and have the best plans to accelerate their reforms in the future. These States will offer models for others to follow and will spread the best reform ideas across their States, and across the country. This executive summary details the following: (1) Key Timing; (2) Overview of Program and Points; (3) Eligibility Requirements; (4) Priorities; (5) Selection Criteria; and (6) Definitions.