20 U.S.C. § 7281B — Maximum amount

(a) Maximum amount

The maximum amount that a local educational agency is eligible to receive under this subpart for any fiscal year, when combined with its payment under section 7702(b) of this title, shall not be more than 50 percent of the maximum amount determined under section 7702(b) of this title.

(b) Insufficient funds

If funds appropriated under section 7241 of this title are insufficient to pay the amount determined under subsection (a) of this section, the Secretary shall ratably reduce the payment to each local educational agency eligible under this subpart.

If funds appropriated under section 7241 of this section are in excess of the amount determined under subsection (a) of this section, the Secretary shall ratably distribute any excess funds to all local educational agencies eligible for payment under section 7702(b) of this title.

Versions

Jan 8, 2002 – presentcurrentviewing

Annual edition

Source credit

Pub. L. 89–10, title V, § 5603, as added Pub. L. 107–110, title V, § 501, Jan. 8, 2002, 115 Stat. 1867.

See all changes since 2002 → current

Every enactment and amendment in this section's credit is listed. Full text is shown for versions back to 2002; earlier amendments are recorded by date and act, without pre-1994 full text.