This is a topic that has many sides to it, whether transferring students from underperforming schools to better districts is a good idea or not:
When the Missouri Supreme Court upheld a law in June allowing students from failing school districts to transfer to good ones, Harriett Gladney saw a path to a better education for her 9-year-old daughter.
But then she watched television news clips from a town hall meeting for the Francis Howell School District, the predominantly white district here that her daughter’s mostly black district, Normandy, had chosen as a transfer site. Normandy, in neighboring St. Louis County, has one of the worst disciplinary rates in the state, and Francis Howell parents angrily protested the transfer of Normandy students across the county line, some yelling that their children could be stabbed and that the district’s academic standards would slip.
Read the rest of the article at: http://www.nytimes.com/2013/08/01/us/in-missouri-race-complicates-a-transfer-to-better-schools.html?pagewanted=1&hp 
What bothers me about this strategy is that you aren't fixing the problem of the underperforming school. Not only will they be taking funds away from the school, you are also potentially taking away the students that would be the motivators and role models.
What do you think?