An Act amending the act of March 10, 1949 (P.L.30, No.14), known as the Public School Code of 1949, in duties and powers of boards of school directors, further providing for elementary schools; in school finances, further providing for when district distressed; repealing provisions relating to special board of control, petition and appointments, to when no appointment is made, and to compensation of special board of control; further providing for powers of special board of control; repealing provisions relating to additional tax and to school directors to remain in office and elections; and adding provisions relating to certain school district financial recovery.