Answer:
"School districts would be allowed to spend about 60% of their federal aid in the next three years."
"Districts would essentially have to save the rest of the aid."
Step-by-step explanation:
Compound sentences are those sentences that have two or more independent clauses, joined by a coordinating conjunction. Such coordinating conjunctions are for, and, nor, but, or, yet, so, FANBOYS, for short.
In the given compound sentence, the two independent clauses are
"School districts would be allowed to spend about 60% of their federal aid in the next three years"
and
"districts would essentially have to save the rest of the aid."
And the coordinating conjunction used is "but".
Removing the conjunction, the single sentence can be changed into two complete sentences.
Thus, the final two complete sentences are-
"School districts would be allowed to spend about 60% of their federal aid in the next three years."
"Districts would essentially have to save the rest of the aid."